Ormat Technologies (NYSE:ORA) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Ormat Technologies (NYSE:ORA) had its price target boosted by research analysts at JPMorgan Chase & Co. from $99.00 to $111.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the energy company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential downside of 3.31% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Jefferies Financial Group boosted their price objective on shares of Ormat Technologies from $97.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Robert W. Baird raised Ormat Technologies from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $87.00 to $103.00 in a research note on Wednesday, July 30th. Roth Capital restated a “buy” rating and set a $125.00 price target on shares of Ormat Technologies in a report on Wednesday. Piper Sandler raised Ormat Technologies from a “neutral” rating to an “overweight” rating and upped their price target for the company from $90.00 to $102.00 in a research report on Wednesday, September 17th. Finally, Cowen reiterated a “hold” rating on shares of Ormat Technologies in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $107.20.

Ormat Technologies Stock Performance

Shares of ORA stock opened at $114.80 on Wednesday. The company has a market capitalization of $6.97 billion, a P/E ratio of 53.40, a PEG ratio of 4.84 and a beta of 0.77. Ormat Technologies has a fifty-two week low of $61.58 and a fifty-two week high of $115.72. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.64 and a current ratio of 0.70. The stock has a 50 day moving average price of $100.08 and a two-hundred day moving average price of $88.30.

Ormat Technologies (NYSE:ORA) last issued its earnings results on Monday, November 3rd. The energy company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.04. Ormat Technologies had a net margin of 14.49% and a return on equity of 5.47%. The firm had revenue of $249.73 million for the quarter, compared to analysts’ expectations of $235.03 million. During the same quarter last year, the business earned $0.36 earnings per share. The business’s revenue was up 17.9% on a year-over-year basis. Ormat Technologies has set its FY 2025 guidance at EPS. Analysts expect that Ormat Technologies will post 1.94 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Assi Ginzburg sold 9,343 shares of the company’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $93.31, for a total value of $871,795.33. Following the sale, the chief financial officer directly owned 24,482 shares of the company’s stock, valued at $2,284,415.42. This represents a 27.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stanley Stern sold 876 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $91.98, for a total value of $80,574.48. Following the completion of the transaction, the director owned 5,261 shares of the company’s stock, valued at approximately $483,906.78. This trade represents a 14.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 40,926 shares of company stock worth $3,861,296 over the last quarter. Company insiders own 0.56% of the company’s stock.

Hedge Funds Weigh In On Ormat Technologies

Several large investors have recently made changes to their positions in ORA. Curio Wealth LLC boosted its position in shares of Ormat Technologies by 29,200.0% in the 2nd quarter. Curio Wealth LLC now owns 293 shares of the energy company’s stock worth $25,000 after purchasing an additional 292 shares in the last quarter. Jones Financial Companies Lllp increased its position in Ormat Technologies by 43.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company’s stock valued at $35,000 after buying an additional 113 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Ormat Technologies by 251.0% during the second quarter. EverSource Wealth Advisors LLC now owns 523 shares of the energy company’s stock valued at $44,000 after buying an additional 374 shares during the last quarter. AlphaQuest LLC boosted its holdings in Ormat Technologies by 218.0% in the third quarter. AlphaQuest LLC now owns 547 shares of the energy company’s stock worth $53,000 after acquiring an additional 375 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its holdings in Ormat Technologies by 313.2% in the third quarter. Hantz Financial Services Inc. now owns 595 shares of the energy company’s stock worth $57,000 after acquiring an additional 451 shares in the last quarter. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

Ormat Technologies Company Profile

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.