Ormat Technologies (NYSE:ORA) Upgraded by Barclays to Overweight Rating

Ormat Technologies (NYSE:ORA - Get Free Report) was upgraded by equities researchers at Barclays from an "equal weight" rating to an "overweight" rating in a research report issued on Friday,Briefing.com Automated Import reports.

Several other brokerages have also recently weighed in on ORA. Wall Street Zen upgraded Ormat Technologies from a "sell" rating to a "hold" rating in a research report on Monday, April 7th. Baird R W raised Ormat Technologies to a "hold" rating in a research note on Thursday, March 13th. Robert W. Baird started coverage on Ormat Technologies in a research note on Thursday, March 13th. They issued a "neutral" rating and a $81.00 price target on the stock. Jefferies Financial Group boosted their price objective on shares of Ormat Technologies from $78.00 to $86.00 and gave the company a "buy" rating in a research report on Tuesday, March 25th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Ormat Technologies from $71.00 to $75.00 and gave the stock a "neutral" rating in a report on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $83.29.

Ormat Technologies Trading Up 1.1%

NYSE ORA opened at $75.05 on Friday. The firm has a market capitalization of $4.55 billion, a PE ratio of 38.29, a price-to-earnings-growth ratio of 3.18 and a beta of 0.65. The business's 50-day moving average price is $72.01 and its two-hundred day moving average price is $70.84. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. Ormat Technologies has a 12 month low of $61.58 and a 12 month high of $84.30.

Ormat Technologies (NYSE:ORA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The energy company reported $0.68 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.10. The company had revenue of $229.76 million for the quarter, compared to analyst estimates of $228.33 million. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The company's quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.64 EPS. On average, analysts expect that Ormat Technologies will post 1.94 EPS for the current year.

Insider Activity

In other news, Director Michal Marom sold 895 shares of the business's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $73.47, for a total value of $65,755.65. Following the completion of the transaction, the director now owns 3,080 shares of the company's stock, valued at $226,287.60. The trade was a 22.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jessica Woelfel sold 409 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $72.15, for a total value of $29,509.35. Following the completion of the sale, the insider now owns 6,094 shares in the company, valued at approximately $439,682.10. This represents a 6.29% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,297 shares of company stock worth $242,374. 0.56% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Harel Insurance Investments & Financial Services Ltd. lifted its position in Ormat Technologies by 273,109.4% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 956,233 shares of the energy company's stock worth $67,673,000 after buying an additional 955,883 shares in the last quarter. Norges Bank acquired a new position in shares of Ormat Technologies during the 4th quarter valued at about $62,851,000. Canada Pension Plan Investment Board grew its holdings in shares of Ormat Technologies by 7,951.9% in the first quarter. Canada Pension Plan Investment Board now owns 660,255 shares of the energy company's stock valued at $46,726,000 after purchasing an additional 652,055 shares during the period. Dimensional Fund Advisors LP increased its position in Ormat Technologies by 19.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,890,235 shares of the energy company's stock worth $133,770,000 after purchasing an additional 303,756 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake 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 purchasing an additional 274,540 shares during the period. Hedge funds and other institutional investors own 95.49% of the company's stock.

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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