Ormat Technologies (NYSE:ORA) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Ormat Technologies (NYSE:ORA - Get Free Report) had its price target raised by equities research analysts at JPMorgan Chase & Co. from $75.00 to $85.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the energy company's stock. JPMorgan Chase & Co.'s price objective indicates a potential downside of 4.77% from the stock's current price.

Other equities research analysts have also issued research reports about the company. Barclays raised their target price on Ormat Technologies from $86.00 to $90.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Jefferies Financial Group raised their price target on Ormat Technologies from $78.00 to $86.00 and gave the stock a "buy" rating in a research note on Tuesday, March 25th. Finally, Wall Street Zen upgraded Ormat Technologies from a "sell" rating to a "hold" rating in a research note on Monday, April 7th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $88.50.

Ormat Technologies Stock Up 0.2%

Shares of NYSE ORA traded up $0.17 during midday trading on Tuesday, hitting $89.26. 64,407 shares of the company's stock were exchanged, compared to its average volume of 506,620. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.97 and a quick ratio of 0.90. Ormat Technologies has a twelve month low of $61.58 and a twelve month high of $91.81. The company has a market cap of $5.41 billion, a PE ratio of 43.33, a P/E/G ratio of 4.36 and a beta of 0.64. The firm's fifty day simple moving average is $81.65 and its 200-day simple moving average is $73.37.

Ormat Technologies (NYSE:ORA - Get Free Report) last issued its earnings results on Wednesday, May 7th. The energy company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.10. Ormat Technologies had a return on equity of 5.35% and a net margin of 14.18%. The business had revenue of $229.76 million for the quarter, compared to analyst estimates of $228.33 million. During the same quarter last year, the company earned $0.64 EPS. The business's quarterly revenue was up 2.5% on a year-over-year basis. Research analysts predict that Ormat Technologies will post 1.94 EPS for the current fiscal year.

Insider Buying and Selling

In other Ormat Technologies news, Director Byron G. Wong sold 460 shares of Ormat Technologies stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $84.04, for a total value of $38,658.40. Following the transaction, the director directly owned 8,659 shares in the company, valued at approximately $727,702.36. This trade represents a 5.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michal Marom sold 895 shares of Ormat Technologies stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $73.47, for a total value of $65,755.65. Following the completion of the transaction, the director owned 3,080 shares in the company, valued at $226,287.60. This trade represents a 22.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,329 shares of company stock worth $423,443. 0.56% of the stock is currently owned by insiders.

Institutional Trading of Ormat Technologies

Several hedge funds have recently modified their holdings of the business. UMB Bank n.a. lifted its holdings in shares of Ormat Technologies by 20.3% in the 2nd quarter. UMB Bank n.a. now owns 1,059 shares of the energy company's stock valued at $89,000 after buying an additional 179 shares during the period. Louisiana State Employees Retirement System lifted its holdings in shares of Ormat Technologies by 1.3% in the 1st quarter. Louisiana State Employees Retirement System now owns 16,100 shares of the energy company's stock valued at $1,139,000 after buying an additional 200 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of Ormat Technologies by 6.3% in the 1st quarter. Mackenzie Financial Corp now owns 3,687 shares of the energy company's stock valued at $261,000 after buying an additional 220 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Ormat Technologies by 30.7% in the 1st quarter. Russell Investments Group Ltd. now owns 1,072 shares of the energy company's stock valued at $76,000 after buying an additional 252 shares during the period. Finally, State of Wyoming lifted its holdings in shares of Ormat Technologies by 8.0% in the 1st quarter. State of Wyoming now owns 3,498 shares of the energy company's stock valued at $248,000 after buying an additional 259 shares during the period. 95.49% of the stock is owned by institutional investors and hedge funds.

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.