UBS Group Raises Ormat Technologies (NYSE:ORA) Price Target to $105.00

Ormat Technologies (NYSE:ORA - Get Free Report) had its price objective upped by equities research analysts at UBS Group from $100.00 to $105.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the energy company's stock. UBS Group's price objective would suggest a potential upside of 17.65% from the company's previous close.

Other research analysts also recently issued research reports about the company. Wall Street Zen raised Ormat Technologies from a "sell" rating to a "hold" rating in a research note on Monday, April 7th. Barclays increased their price target on Ormat Technologies from $86.00 to $90.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Finally, JPMorgan Chase & Co. increased their price target on Ormat Technologies from $75.00 to $85.00 and gave the company a "neutral" rating in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $88.50.

Ormat Technologies Trading Down 1.3%

NYSE:ORA traded down $1.16 during trading hours on Thursday, hitting $89.25. 254,002 shares of the stock were exchanged, compared to its average volume of 508,404. The company's 50 day moving average is $81.37 and its two-hundred day moving average is $73.23. Ormat Technologies has a twelve month low of $61.58 and a twelve month high of $91.81. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $5.41 billion, a P/E ratio of 43.33, a price-to-earnings-growth ratio of 4.36 and a beta of 0.64.

Ormat Technologies (NYSE:ORA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The energy company reported $0.68 earnings per share (EPS) 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 firm had revenue of $229.76 million for the quarter, compared to the consensus estimate of $228.33 million. During the same quarter in the prior year, the business earned $0.64 EPS. The business's revenue for the quarter was up 2.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Ormat Technologies will post 1.94 earnings per share for the current fiscal year.

Insider Activity at Ormat Technologies

In other news, Director Byron G. Wong sold 460 shares of Ormat Technologies stock in a transaction on Friday, June 27th. The shares were sold at an average price of $84.04, for a total transaction of $38,658.40. Following the transaction, the director owned 8,659 shares in the company, valued at approximately $727,702.36. The trade was a 5.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michal Marom sold 895 shares of Ormat Technologies 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 5,329 shares of company stock valued at $423,443 in the last quarter. Insiders own 0.56% of the company's stock.

Hedge Funds Weigh In On Ormat Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Ormat Technologies by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 6,043,996 shares of the energy company's stock valued at $409,305,000 after buying an additional 274,540 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of 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 valued at $133,770,000 after purchasing an additional 303,756 shares during the period. Geode Capital Management LLC raised its holdings in shares of Ormat Technologies by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 1,373,426 shares of the energy company's stock valued at $93,029,000 after purchasing an additional 72,135 shares during the period. Van Berkom & Associates Inc. raised its holdings in shares of Ormat Technologies by 2.7% during the first quarter. Van Berkom & Associates Inc. now owns 1,280,026 shares of the energy company's stock valued at $90,587,000 after purchasing an additional 33,719 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of 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 valued at $67,673,000 after purchasing an additional 955,883 shares during the period. Institutional investors and hedge funds 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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