Investment analysts at Guggenheim initiated coverage on shares of Ormat Technologies (NYSE:ORA) in a note issued to investors on Monday, The Fly reports. The brokerage set a “buy” rating on the energy company’s stock.
Several other research firms have also recently commented on ORA. Zacks Investment Research upgraded Ormat Technologies from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research report on Wednesday, January 3rd. TheStreet upgraded Ormat Technologies from a “c+” rating to a “b-” rating in a research report on Monday, November 13th. Roth Capital set a $70.00 target price on Ormat Technologies and gave the company a “buy” rating in a research report on Monday, November 13th. Finally, Oppenheimer restated a “buy” rating and issued a $70.00 target price (up from $65.00) on shares of Ormat Technologies in a research report on Wednesday, September 27th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $68.43.
Ormat Technologies (ORA) traded up $0.28 on Monday, reaching $65.05. The company had a trading volume of 172,000 shares, compared to its average volume of 167,825. Ormat Technologies has a 12-month low of $51.44 and a 12-month high of $66.46. The company has a current ratio of 1.72, a quick ratio of 1.62 and a debt-to-equity ratio of 0.65. The firm has a market cap of $3,300.00, a PE ratio of 27.92, a P/E/G ratio of 1.94 and a beta of 1.23.
Several hedge funds have recently modified their holdings of ORA. Renaissance Technologies LLC increased its position in shares of Ormat Technologies by 17.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,085,257 shares of the energy company’s stock valued at $63,683,000 after purchasing an additional 164,100 shares during the period. Vanguard Group Inc. increased its position in shares of Ormat Technologies by 4.4% during the 2nd quarter. Vanguard Group Inc. now owns 3,366,355 shares of the energy company’s stock valued at $197,538,000 after purchasing an additional 142,724 shares during the period. AHL Partners LLP acquired a new position in shares of Ormat Technologies during the 2nd quarter valued at $8,370,000. New Amsterdam Partners LLC NY acquired a new position in shares of Ormat Technologies in the 3rd quarter worth $6,677,000. Finally, Impax Asset Management LTD grew its holdings in shares of Ormat Technologies by 21.4% in the 3rd quarter. Impax Asset Management LTD now owns 605,795 shares of the energy company’s stock worth $36,984,000 after acquiring an additional 106,654 shares during the last quarter. Institutional investors own 46.34% 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.