Ormat Technologies (ORA) Stock Forecast, Price & News

8 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Ormat Technologies in the last year. There are currently 6 hold ratings and 2 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "hold" ORA shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in ORA, but not buy additional shares or sell existing shares.
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8 analysts have issued 12 month target prices for Ormat Technologies' stock. Their ORA share price forecasts range from $84.00 to $105.00. On average, they expect the company's share price to reach $91.86 in the next twelve months. This suggests a possible upside of 7.8% from the stock's current price.
View analysts price targets for ORA or view top-rated stocks among Wall Street analysts.

Ormat Technologies' stock was trading at $86.48 at the beginning of the year. Since then, ORA shares have decreased by 1.5% and is now trading at $85.20.
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Ormat Technologies saw a increase in short interest in the month of April. As of April 30th, there was short interest totaling 4,340,000 shares, an increase of 15.1% from the April 15th total of 3,770,000 shares. Based on an average daily volume of 530,100 shares, the days-to-cover ratio is currently 8.2 days.
View Ormat Technologies' Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Wednesday, August 2nd 2023.
View our ORA earnings forecast.

Ormat Technologies, Inc. (NYSE:ORA) announced its earnings results on Tuesday, May, 9th. The energy company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.02. The energy company had revenue of $185.20 million for the quarter, compared to the consensus estimate of $212.86 million. Ormat Technologies had a trailing twelve-month return on equity of 4.86% and a net margin of 10.39%. Ormat Technologies's revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.35 EPS.

Ormat Technologies announced a quarterly dividend on Tuesday, May 9th. Stockholders of record on Tuesday, May 23rd will be paid a dividend of $0.12 per share on Tuesday, June 6th. This represents a $0.48 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Monday, May 22nd.
Read our dividend analysis for ORA.

ETFs with the largest weight of Ormat Technologies (NYSE:ORA) stock in their portfolio include ProShares S&P Kensho Cleantech ETF (CTEX), ALPS Clean Energy ETF (ACES), SmartETFs Sustainable Energy II ETF (SOLR), Global X Renewable Energy Producers ETF (RNRG), BlueStar Israel Technology ETF (ITEQ), SPDR S&P Kensho Clean Power ETF (CNRG), Fidelity Clean Energy ETF (FRNW) and iShares Global Clean Energy ETF (ICLN).

Ormat Technologies (NYSE:ORA) pays an annual dividend of $0.48 per share and currently has a dividend yield of 0.55%. The dividend payout ratio is 35.56%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, ORA will have a dividend payout ratio of 17.45% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for ORA.

Ormat Technologies issued an update on its FY 2023 earnings guidance on Tuesday, May, 9th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $823.00 million-$858.00 million, compared to the consensus revenue estimate of $837.24 million.

1 employees have rated Ormat Technologies Chief Executive Officer Doron Blachar on Glassdoor.com. Doron Blachar has an approval rating of 100% among the company's employees. This puts Doron Blachar in the top 10% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other Ormat Technologies investors own include QUALCOMM (QCOM), NVIDIA (NVDA), Micron Technology (MU), AT&T (T), Intel (INTC), Xilinx (XLNX), Tesla (TSLA), Advanced Micro Devices (AMD), Boeing (BA) and Cisco Systems (CSCO).

Ormat Technologies trades on the New York Stock Exchange (NYSE) under the ticker symbol "ORA."

Ormat Technologies' stock is owned by many different retail and institutional investors. Top institutional shareholders include BlackRock Inc. (15.20%), Clal Insurance Enterprises Holdings Ltd (4.13%), Impax Asset Management Group plc (3.78%), Global Alpha Capital Management Ltd. (3.57%), State Street Corp (3.26%) and Dimensional Fund Advisors LP (2.27%). Insiders that own company stock include Assi Ginzburg, Corp Orix, Dafna Sharir, Dan Falk, David Granot, Doron Blachar, Isaac Angel, Ofer Benyosef, Shimon Hatzir, Shlomi Argas, Stanley Stern and Zvi Krieger.
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Shares of ORA stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of ORA stock can currently be purchased for approximately $85.20.

Ormat Technologies (NYSE:ORA) has a market capitalization of $5.09 billion and generates $734.16 million in revenue each year. The energy company earns $65.84 million in net income (profit) each year or $1.35 on an earnings per share basis.

The company employs 1,480 workers across the globe.

Ormat Technologies' mailing address is 6140 PLUMAS STREET, RENO NV, 89519. The official website for the company is www.ormat.com. The energy company can be reached via phone at (775) 356-9029, via email at rob@haydenir.com, or via fax at 775-356-9039.