Ormat Technologies (NYSE:ORA) Stock Rating Upgraded by Barclays

Ormat Technologies (NYSE:ORA - Get Free Report) was upgraded by Barclays from an "equal weight" rating to an "overweight" rating in a research report issued to clients and investors on Friday, Marketbeat.com reports. The brokerage presently has a $86.00 price objective on the energy company's stock, up from their prior price objective of $80.00. Barclays's price target would indicate a potential upside of 10.44% from the stock's previous close.

A number of other research analysts have also weighed in on the company. Baird R W upgraded Ormat Technologies to a "hold" rating in a research report on Thursday, March 13th. Robert W. Baird began coverage on Ormat Technologies in a research report on Thursday, March 13th. They set a "neutral" rating and a $81.00 price objective for the company. Jefferies Financial Group raised their price objective on Ormat Technologies from $78.00 to $86.00 and gave the company a "buy" rating in a research report on Tuesday, March 25th. Wall Street Zen upgraded Ormat Technologies from a "sell" rating to a "hold" rating in a research report on Monday, April 7th. Finally, JPMorgan Chase & Co. raised their price objective on Ormat Technologies from $71.00 to $75.00 and gave the company a "neutral" rating in a research report on Friday, February 28th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $84.14.

Ormat Technologies Price Performance

NYSE:ORA traded up $0.10 on Friday, reaching $77.87. 387,768 shares of the company's stock traded hands, compared to its average volume of 481,448. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73. The stock has a 50-day simple moving average of $72.28 and a 200-day simple moving average of $70.68. The firm has a market cap of $4.72 billion, a PE ratio of 39.73, a P/E/G ratio of 3.18 and a beta of 0.60. 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 results 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 business had revenue of $229.76 million for the quarter, compared to analysts' expectations of $228.33 million. Ormat Technologies had a return on equity of 5.27% and a net margin of 13.33%. The business's quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm earned $0.64 earnings per share. Equities research analysts forecast that Ormat Technologies will post 1.94 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Michal Marom sold 895 shares of Ormat Technologies 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 in the company, valued at approximately $226,287.60. This trade represents a 22.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jessica Woelfel sold 409 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total value of $29,509.35. Following the transaction, the insider now owns 6,094 shares of the company's stock, valued at $439,682.10. This trade represents a 6.29% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,297 shares of company stock worth $242,374. Corporate insiders own 0.56% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Stuart Chaussee & Associates Inc. purchased a new position in shares of Ormat Technologies during the fourth quarter valued at approximately $34,000. AlphaQuest LLC boosted its position in shares of Ormat Technologies by 4,691.7% during the fourth quarter. AlphaQuest LLC now owns 575 shares of the energy company's stock valued at $39,000 after buying an additional 563 shares during the period. UMB Bank n.a. boosted its position in shares of Ormat Technologies by 42.6% during the first quarter. UMB Bank n.a. now owns 880 shares of the energy company's stock valued at $62,000 after buying an additional 263 shares during the period. CWM LLC boosted its position in shares of Ormat Technologies by 294.2% during the first quarter. CWM LLC now owns 887 shares of the energy company's stock valued at $63,000 after buying an additional 662 shares during the period. Finally, Signaturefd LLC boosted its position in shares of Ormat Technologies by 60.6% during the first quarter. Signaturefd LLC now owns 890 shares of the energy company's stock valued at $63,000 after buying an additional 336 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.