Shares of Ormat Technologies, Inc. (NYSE:ORA) rose 3.6% on Friday . The company traded as high as $63.56 and last traded at $61.14. Approximately 127,525 shares changed hands during trading, a decline of 22% from the average daily volume of 164,091 shares. The stock had previously closed at $63.41.

ORA has been the subject of a number of recent analyst reports. Cowen and Company set a $67.00 target price on Ormat Technologies and gave the company a “buy” rating in a report on Friday, August 18th. BidaskClub downgraded Ormat Technologies from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. JPMorgan Chase & Co. upgraded Ormat Technologies from a “neutral” rating to an “overweight” rating and upped their target price for the company from $65.00 to $71.00 in a report on Wednesday, June 7th. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $70.00 target price (up previously from $65.00) on shares of Ormat Technologies in a report on Wednesday. Finally, Zacks Investment Research upgraded Ormat Technologies from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a report on Tuesday, August 8th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Ormat Technologies has a consensus rating of “Buy” and a consensus price target of $66.00.

The stock has a 50-day moving average price of $57.21 and a 200-day moving average price of $58.00. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of 27.85 and a beta of 1.20.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings data on Thursday, August 3rd. The energy company reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.03. Ormat Technologies had a return on equity of 10.25% and a net margin of 15.36%. The company had revenue of $179.36 million during the quarter, compared to analysts’ expectations of $169.80 million. During the same quarter in the previous year, the business earned $0.49 EPS. Ormat Technologies’s revenue was up 12.2% compared to the same quarter last year. Analysts forecast that Ormat Technologies, Inc. will post $2.29 EPS for the current year.

In related news, SVP Etty Rosner sold 9,983 shares of the business’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $60.23, for a total transaction of $601,276.09. Following the completion of the transaction, the senior vice president now owns 9,983 shares in the company, valued at approximately $601,276.09. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Shimon Hatzir sold 2,976 shares of Ormat Technologies stock in a transaction on Monday, September 18th. The shares were sold at an average price of $58.50, for a total value of $174,096.00. Following the sale, the vice president now directly owns 2,976 shares of the company’s stock, valued at $174,096. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,118,038 shares of company stock valued at $633,938,695. 22.97% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. UBS Asset Management Americas Inc. raised its position in Ormat Technologies by 45.8% during the 1st quarter. UBS Asset Management Americas Inc. now owns 16,671 shares of the energy company’s stock valued at $952,000 after purchasing an additional 5,233 shares in the last quarter. Stevens Capital Management LP bought a new stake in Ormat Technologies during the 1st quarter valued at $226,000. BNP Paribas Arbitrage SA raised its position in Ormat Technologies by 108.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 12,425 shares of the energy company’s stock valued at $729,000 after purchasing an additional 6,452 shares in the last quarter. BlackRock Inc. raised its position in Ormat Technologies by 6,068.3% during the 1st quarter. BlackRock Inc. now owns 2,473,872 shares of the energy company’s stock valued at $141,210,000 after purchasing an additional 2,433,766 shares in the last quarter. Finally, US Bancorp DE raised its position in Ormat Technologies by 33.6% during the 1st quarter. US Bancorp DE now owns 2,169 shares of the energy company’s stock valued at $124,000 after purchasing an additional 545 shares in the last quarter. 46.41% of the stock is owned by institutional investors and hedge funds.

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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. Its equipment manufacturing operations are located in Israel. It conducts its business activities in two business segments: Electricity segment and Product segment.

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