Ormat Technologies Inc. (ORA) Given Consensus Rating of “Hold” by Analysts
Ormat Technologies Inc. (NYSE:ORA) has received a consensus rating of “Hold” from the six ratings firms that are covering the stock. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $45.33.
Several equities analysts recently commented on the stock. Zacks Investment Research downgraded shares of Ormat Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, July 7th. Roth Capital assumed coverage on shares of Ormat Technologies in a research note on Thursday, July 28th. They issued a “buy” rating and a $50.00 price objective for the company. Oppenheimer Holdings Inc. assumed coverage on shares of Ormat Technologies in a research note on Thursday, September 8th. They set an “outperform” rating and a $54.00 price target for the company. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Ormat Technologies in a research note on Wednesday, August 3rd.
In other news, Director Dan Falk sold 7,500 shares of the stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $48.90, for a total transaction of $366,750.00. Following the completion of the sale, the director now directly owns 7,500 shares in the company, valued at $366,750. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Gillon Beck sold 390,000 shares of the stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $48.64, for a total transaction of $18,969,600.00. The disclosure for this sale can be found here. Insiders own 22.97% of the company’s stock.
Large investors have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Ormat Technologies by 110.0% in the first quarter. BlackRock Inc. now owns 2,669 shares of the company’s stock valued at $110,000 after buying an additional 1,398 shares during the period. Victory Capital Management Inc. boosted its stake in Ormat Technologies by 77.2% in the second quarter. Victory Capital Management Inc. now owns 2,623 shares of the company’s stock valued at $115,000 after buying an additional 1,143 shares during the period. Quantbot Technologies LP purchased a new stake in Ormat Technologies during the second quarter valued at $135,000. Baird Financial Group Inc. purchased a new stake in Ormat Technologies during the second quarter valued at $204,000. Finally, ProShare Advisors LLC purchased a new stake in Ormat Technologies during the second quarter valued at $208,000. Institutional investors own 41.28% of the company’s stock.
Shares of Ormat Technologies (NYSE:ORA) opened at 47.30 on Thursday. Ormat Technologies has a 52-week low of $32.25 and a 52-week high of $51.19. The company has a market capitalization of $2.34 billion, a PE ratio of 15.72 and a beta of 1.19. The company has a 50-day moving average of $48.43 and a 200 day moving average of $45.18.
Ormat Technologies (NYSE:ORA) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.07. The business earned $159.90 million during the quarter, compared to the consensus estimate of $152.88 million. Ormat Technologies had a net margin of 23.05% and a return on equity of 9.18%. The firm’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.28 EPS. Analysts predict that Ormat Technologies will post $1.91 earnings per share for the current year.
Ormat Technologies Company Profile
Ormat Technologies, Inc is engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy-based power plants. The Company’s equipment manufacturing operations are located in Israel. The Company conducts its business activities in two business segments: Electricity segment and Product segment.
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