JPMorgan Chase & Co. Issues Positive Forecast for Ormat Technologies (NYSE:ORA) Stock Price

Ormat Technologies (NYSE:ORA - Get Free Report) had its target price upped by equities research analysts at JPMorgan Chase & Co. from $75.00 to $85.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the energy company's stock. JPMorgan Chase & Co.'s price objective suggests a potential downside of 4.58% from the company's current price.

Several other brokerages also recently commented on ORA. Barclays upped their price target on shares of Ormat Technologies from $86.00 to $90.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Jefferies Financial Group upped their price objective on shares of Ormat Technologies from $78.00 to $86.00 and gave the company a "buy" rating in a research note on Tuesday, March 25th. Finally, Wall Street Zen upgraded shares of Ormat Technologies from a "sell" rating to a "hold" rating in a research note on Monday, April 7th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Ormat Technologies presently has an average rating of "Moderate Buy" and an average price target of $88.50.

Ormat Technologies Trading Down 1.5%

Shares of NYSE:ORA traded down $1.33 during mid-day trading on Tuesday, hitting $89.08. The stock had a trading volume of 331,032 shares, compared to its average volume of 508,772. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.90 and a current ratio of 0.97. The company has a market cap of $5.40 billion, a PE ratio of 43.24, a P/E/G ratio of 4.36 and a beta of 0.64. Ormat Technologies has a 12-month low of $61.58 and a 12-month high of $91.81. The company's 50 day moving average is $81.37 and its 200-day moving average is $73.23.

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

Insider Activity at Ormat Technologies

In other news, Director Stanley Stern sold 547 shares of the stock in a transaction on Friday, June 20th. The shares were sold at an average price of $85.54, for a total transaction of $46,790.38. Following the transaction, the director owned 6,137 shares in the company, valued at $524,958.98. This represents a 8.18% 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 the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $73.47, for a total transaction of $65,755.65. Following the transaction, the director owned 3,080 shares in the company, valued at approximately $226,287.60. This trade represents a 22.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,329 shares of company stock worth $423,443 over the last quarter. 0.56% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ORA. Teacher Retirement System of Texas acquired a new position in shares of Ormat Technologies during the 1st quarter worth about $593,000. Vanguard Group Inc. increased its position in Ormat Technologies by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 6,043,996 shares of the energy company's stock worth $409,305,000 after acquiring an additional 274,540 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its stake in Ormat Technologies by 273,109.4% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 956,233 shares of the energy company's stock valued at $67,673,000 after purchasing an additional 955,883 shares during the last quarter. Franklin Resources Inc. acquired a new position in Ormat Technologies during the 4th quarter valued at $526,000. Finally, GAMMA Investing LLC boosted its holdings in Ormat Technologies by 4,485.0% in the 1st quarter. GAMMA Investing LLC now owns 39,844 shares of the energy company's stock valued at $2,820,000 after purchasing an additional 38,975 shares during the period. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Ormat Technologies Company Profile

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.