Ormat Technologies (NYSE:ORA - Get Free Report)'s stock had its "hold (c)" rating reissued by stock analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.
A number of other equities analysts also recently weighed in on ORA. JPMorgan Chase & Co. increased their price target on shares of Ormat Technologies from $75.00 to $85.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. TD Cowen increased their price target on shares of Ormat Technologies from $76.00 to $85.00 and gave the stock a "hold" rating in a research note on Friday, August 8th. Baird R W raised shares of Ormat Technologies from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 30th. Jefferies Financial Group increased their price objective on shares of Ormat Technologies from $97.00 to $120.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, Cowen reissued a "hold" rating on shares of Ormat Technologies in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, Ormat Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $97.90.
Get Our Latest Stock Analysis on Ormat Technologies
Ormat Technologies Stock Performance
Shares of ORA opened at $107.02 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.64 and a current ratio of 0.70. The company has a market capitalization of $6.50 billion, a price-to-earnings ratio of 49.78, a PEG ratio of 4.88 and a beta of 0.69. The company's 50 day simple moving average is $92.62 and its 200 day simple moving average is $82.69. Ormat Technologies has a 1 year low of $61.58 and a 1 year high of $107.59.
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, beating the consensus estimate of $0.37 by $0.11. The business had revenue of $234.02 million for the quarter, compared to the consensus estimate of $225.26 million. Ormat Technologies had a net margin of 14.49% and a return on equity of 5.47%. The company's quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.37 earnings per share. On average, sell-side analysts predict that Ormat Technologies will post 1.94 EPS for the current year.
Insider Buying and Selling
In other news, Director Dafna Sharir sold 981 shares of the firm's stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $96.70, for a total value of $94,862.70. Following the transaction, the director directly owned 2,257 shares in the company, valued at approximately $218,251.90. This trade represents a 30.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jessica Woelfel sold 5,611 shares of Ormat Technologies stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $94.80, for a total transaction of $531,922.80. Following the completion of the sale, the insider owned 3,433 shares in the company, valued at approximately $325,448.40. This represents a 62.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,926 shares of company stock worth $3,861,296. Company insiders own 0.56% of the company's stock.
Institutional Trading of Ormat Technologies
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Teacher Retirement System of Texas bought a new stake in shares of Ormat Technologies during the 1st quarter worth about $593,000. Empower Advisory Group LLC grew its stake in shares of Ormat Technologies by 6.5% in the 1st quarter. Empower Advisory Group LLC now owns 215,327 shares of the energy company's stock worth $15,239,000 after purchasing an additional 13,061 shares during the last quarter. Bayforest Capital Ltd grew its stake in shares of Ormat Technologies by 2,293.3% in the 1st quarter. Bayforest Capital Ltd now owns 6,773 shares of the energy company's stock worth $479,000 after purchasing an additional 6,490 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of Ormat Technologies by 19.2% in the 1st quarter. Voya Investment Management LLC now owns 96,604 shares of the energy company's stock worth $6,837,000 after purchasing an additional 15,532 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Ormat Technologies by 273,109.4% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 956,233 shares of the energy company's stock worth $67,673,000 after purchasing an additional 955,883 shares during the last quarter. 95.49% of the stock is currently owned by institutional investors.
Ormat Technologies Company Profile
(
Get Free Report)
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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