Ormat Technologies (NYSE:ORA) Stock Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Ormat Technologies (NYSE:ORA) crossed above its 200-day moving average of $111.98, trading as high as $117.33 and last at $115.21 on Friday.
• Analysts hold a consensus "Moderate Buy" with an average price target of $129.09; several firms recently revised targets (e.g., Oppenheimer to $136, RBC initiated at $130).
• The company reported Q4 EPS of $0.67 (in line) and revenue of $276.0M (+19.6% YoY) beating estimates; market cap ≈$7.01B, P/E ≈57.3, and a quarterly dividend of $0.12 (≈0.4% yield).

Ormat Technologies, Inc. (NYSE:ORA - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $111.98 and traded as high as $117.33. Ormat Technologies shares last traded at $115.2060, with a volume of 478,634 shares trading hands.

Analysts Set New Price Targets

Several research firms recently issued reports on ORA. Oppenheimer lifted their price target on shares of Ormat Technologies from $125.00 to $136.00 and gave the company an "outperform" rating in a research report on Tuesday, January 27th. Robert W. Baird reduced their price target on shares of Ormat Technologies from $143.00 to $130.00 and set an "outperform" rating for the company in a research report on Friday, February 27th. Jefferies Financial Group downgraded shares of Ormat Technologies from a "buy" rating to a "hold" rating and lifted their price target for the company from $125.00 to $130.00 in a research report on Friday, February 13th. Royal Bank Of Canada began coverage on shares of Ormat Technologies in a research report on Tuesday, March 3rd. They issued an "outperform" rating and a $130.00 price target for the company. Finally, UBS Group reduced their price target on shares of Ormat Technologies from $148.00 to $143.00 and set a "buy" rating for the company in a research report on Tuesday, March 3rd. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $129.09.

Ormat Technologies Trading Up 1.2%

The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.75 and a current ratio of 0.81. The firm has a 50 day simple moving average of $114.02 and a two-hundred day simple moving average of $111.98. The firm has a market capitalization of $7.01 billion, a P/E ratio of 57.32, a PEG ratio of 4.81 and a beta of 0.80.

Ormat Technologies (NYSE:ORA - Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The energy company reported $0.67 earnings per share for the quarter, meeting the consensus estimate of $0.67. Ormat Technologies had a return on equity of 5.21% and a net margin of 12.52%.The business had revenue of $276.04 million for the quarter, compared to analysts' expectations of $257.75 million. During the same period last year, the business earned $0.67 EPS. The business's revenue was up 19.6% on a year-over-year basis. Equities research analysts forecast that Ormat Technologies, Inc. will post 1.94 earnings per share for the current year.

Ormat Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th were paid a dividend of $0.12 per share. The ex-dividend date was Tuesday, March 10th. This represents a $0.48 annualized dividend and a yield of 0.4%. Ormat Technologies's dividend payout ratio (DPR) is 23.88%.

Insiders Place Their Bets

In other Ormat Technologies news, insider Jessica Woelfel sold 2,359 shares of the firm's stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $105.16, for a total transaction of $248,072.44. Following the transaction, the insider directly owned 3,433 shares in the company, valued at approximately $361,014.28. This trade represents a 40.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 3,364 shares of company stock worth $353,621. 0.56% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ormat Technologies

Several large investors have recently bought and sold shares of the stock. RWC Asset Management LLP raised its stake in shares of Ormat Technologies by 8.8% during the 3rd quarter. RWC Asset Management LLP now owns 136,101 shares of the energy company's stock worth $13,100,000 after purchasing an additional 11,063 shares during the period. Retirement Systems of Alabama raised its stake in shares of Ormat Technologies by 169.7% during the 3rd quarter. Retirement Systems of Alabama now owns 189,988 shares of the energy company's stock worth $18,286,000 after purchasing an additional 119,552 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Ormat Technologies during the 3rd quarter worth $3,738,000. AGF Management Ltd. bought a new stake in shares of Ormat Technologies during the 3rd quarter worth $9,527,000. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of Ormat Technologies during the 3rd quarter worth $14,005,000. 95.49% of the stock is currently owned by institutional investors.

About Ormat Technologies

Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company's core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.

Ormat's offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.

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