Ormat Technologies, Inc. (NYSE:ORA) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Ormat Technologies, Inc. has received a consensus rating of "Moderate Buy" from analysts, with three holding, eight buying, and one strongly buying the stock.
• The average 12-month price objective for Ormat Technologies among brokers is $94.50, reflecting expectations for future performance.
• Recent insider sales, including significant share offloading by the CFO, led to a notable decrease in their positions within the company.

Ormat Technologies, Inc. (NYSE:ORA - Get Free Report) has been given a consensus rating of "Moderate Buy" by the twelve ratings firms that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $94.50.

A number of brokerages have recently issued reports on ORA. Baird R W upgraded Ormat Technologies from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 30th. TD Cowen upped their price objective on Ormat Technologies from $76.00 to $85.00 and gave the stock a "hold" rating in a research note on Friday, August 8th. UBS Group upped their price objective on Ormat Technologies from $100.00 to $105.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Robert W. Baird upgraded Ormat Technologies from a "neutral" rating to an "outperform" rating and increased their price target for the company from $87.00 to $103.00 in a research note on Wednesday, July 30th. Finally, Barclays dropped their price target on Ormat Technologies from $90.00 to $89.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th.

Insiders Place Their Bets

In related news, insider Jessica Woelfel sold 692 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $94.57, for a total value of $65,442.44. Following the sale, the insider owned 5,234 shares in the company, valued at approximately $494,979.38. This represents a 11.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Assi Ginzburg sold 9,343 shares of the stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $93.31, for a total value of $871,795.33. Following the completion of the sale, the chief financial officer owned 24,482 shares in the company, valued at approximately $2,284,415.42. This trade represents a 27.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,711 shares of company stock worth $1,754,320 in the last quarter. Insiders own 0.56% of the company's stock.

Institutional Investors Weigh In On Ormat Technologies

A number of large investors have recently added to or reduced their stakes in ORA. Curio Wealth LLC grew its holdings in Ormat Technologies by 29,200.0% in the 2nd quarter. Curio Wealth LLC now owns 293 shares of the energy company's stock valued at $25,000 after buying an additional 292 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Ormat Technologies by 251.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 523 shares of the energy company's stock valued at $44,000 after buying an additional 374 shares in the last quarter. UMB Bank n.a. grew its holdings in Ormat Technologies by 42.6% in the 1st quarter. UMB Bank n.a. now owns 880 shares of the energy company's stock valued at $62,000 after buying an additional 263 shares in the last quarter. GAMMA Investing LLC grew its holdings in Ormat Technologies by 57.4% in the 2nd quarter. GAMMA Investing LLC now owns 886 shares of the energy company's stock valued at $74,000 after buying an additional 323 shares in the last quarter. Finally, CWM LLC grew its holdings in Ormat Technologies by 294.2% in the 1st quarter. CWM LLC now owns 887 shares of the energy company's stock valued at $63,000 after buying an additional 662 shares in the last quarter. Institutional investors own 95.49% of the company's stock.

Ormat Technologies Trading Up 1.1%

Shares of Ormat Technologies stock opened at $94.71 on Monday. Ormat Technologies has a 12-month low of $61.58 and a 12-month high of $95.36. The stock has a market cap of $5.75 billion, a P/E ratio of 44.05, a P/E/G ratio of 4.41 and a beta of 0.69. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.77. The business's 50 day moving average is $90.73 and its 200-day moving average is $81.21.

Ormat Technologies (NYSE:ORA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The energy company reported $0.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.11. Ormat Technologies had a return on equity of 5.47% and a net margin of 14.49%.The company had revenue of $234.02 million for the quarter, compared to analysts' expectations of $225.26 million. During the same quarter in the prior year, the business posted $0.37 EPS. The business's revenue was up 9.9% compared to the same quarter last year. Equities research analysts predict that Ormat Technologies will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Wednesday, August 20th. Ormat Technologies's dividend payout ratio is 22.33%.

About Ormat Technologies

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, Guadeloupe, New Zealand, Honduras, and internationally. It operates in three segments: Electricity, Product, and Energy Storage. The Electricity segment develops, builds, owns, and operates geothermal, solar photovoltaic, and recovered energy-based power plants; and sells electricity.

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