Ormat Technologies, Inc. (ORA) Given Average Rating of “Buy” by Brokerages
Ormat Technologies, Inc. (NYSE:ORA) has received a consensus rating of “Buy” from the ten research firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $66.38.
ORA has been the subject of several analyst reports. Cowen and Company set a $67.00 price objective on shares of Ormat Technologies and gave the company a “buy” rating in a research note on Friday, August 18th. BidaskClub lowered shares of Ormat Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Zacks Investment Research raised shares of Ormat Technologies from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Thursday, October 5th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $70.00 price objective (up previously from $65.00) on shares of Ormat Technologies in a research note on Wednesday, September 27th. Finally, TheStreet lowered shares of Ormat Technologies from a “b” rating to a “c+” rating in a research note on Monday, August 14th.
Shares of Ormat Technologies (NYSE ORA) traded down 0.26% on Wednesday, hitting $61.81. The firm has a 50-day moving average of $58.51 and a 200-day moving average of $58.32. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 28.20 and a beta of 1.22. Ormat Technologies has a one year low of $45.30 and a one year high of $63.56.
Ormat Technologies (NYSE:ORA) last released its quarterly earnings data on Thursday, August 3rd. The energy company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.03. Ormat Technologies had a net margin of 15.36% and a return on equity of 10.25%. The business had revenue of $179.36 million during the quarter, compared to analyst estimates of $169.80 million. During the same quarter in the previous year, the business earned $0.49 EPS. Ormat Technologies’s quarterly revenue was up 12.2% compared to the same quarter last year. Analysts expect that Ormat Technologies will post $2.29 earnings per share for the current fiscal year.
In other news, VP Shimon Hatzir sold 2,976 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $58.50, for a total transaction of $174,096.00. Following the transaction, the vice president now owns 2,976 shares in the company, valued at approximately $174,096. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Bob Sullivan sold 9,890 shares of the business’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $62.89, for a total transaction of $621,982.10. Following the transaction, the executive vice president now owns 9,890 shares in the company, valued at approximately $621,982.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,118,038 shares of company stock valued at $633,938,695. Company insiders own 22.97% of the company’s stock.
Several large investors have recently bought and sold shares of ORA. Russell Investments Group Ltd. increased its holdings in shares of Ormat Technologies by 649.8% during the 1st quarter. Russell Investments Group Ltd. now owns 17,905 shares of the energy company’s stock worth $1,022,000 after purchasing an additional 15,517 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Ormat Technologies by 6.3% during the 1st quarter. Wells Fargo & Company MN now owns 49,488 shares of the energy company’s stock worth $2,825,000 after purchasing an additional 2,918 shares during the period. US Bancorp DE increased its holdings in shares of Ormat Technologies by 33.6% during the 1st quarter. US Bancorp DE now owns 2,169 shares of the energy company’s stock worth $124,000 after purchasing an additional 545 shares during the period. UBS Asset Management Americas Inc. increased its holdings in shares of 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 worth $952,000 after purchasing an additional 5,233 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in shares of Ormat Technologies by 11.6% during the 1st quarter. Ameriprise Financial Inc. now owns 111,627 shares of the energy company’s stock worth $6,372,000 after purchasing an additional 11,612 shares during the period. Institutional investors own 46.41% of the company’s stock.
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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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