Ormat Technologies, Inc. (ORA) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Ormat Technologies, Inc. (NYSE:ORA) have been given a consensus recommendation of “Buy” by the nine research firms that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $70.17.

ORA has been the topic of several recent research reports. Zacks Investment Research lowered shares of Ormat Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Roth Capital set a $70.00 price objective on shares of Ormat Technologies and gave the stock a “buy” rating in a research report on Monday, November 13th. TheStreet upgraded shares of Ormat Technologies from a “c+” rating to a “b-” rating in a research report on Monday, November 13th. Guggenheim initiated coverage on shares of Ormat Technologies in a research report on Monday, January 8th. They issued a “buy” rating and a $72.00 price objective on the stock. Finally, Cowen reiterated a “buy” rating and issued a $75.00 price objective on shares of Ormat Technologies in a research report on Wednesday, January 24th.

Ormat Technologies (NYSE ORA) traded down $0.23 during trading hours on Tuesday, hitting $64.25. 181,744 shares of the stock were exchanged, compared to its average volume of 196,239. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.62 and a current ratio of 1.72. Ormat Technologies has a fifty-two week low of $54.75 and a fifty-two week high of $70.68. The firm has a market cap of $3,250.00, a PE ratio of 27.58, a PEG ratio of 1.91 and a beta of 1.22.

Several institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its position in shares of Ormat Technologies by 1.7% in the 2nd quarter. Royal Bank of Canada now owns 2,008 shares of the energy company’s stock worth $117,000 after buying an additional 34 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Ormat Technologies by 1.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,898 shares of the energy company’s stock valued at $1,813,000 after purchasing an additional 565 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Ormat Technologies by 43.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,614 shares of the energy company’s stock valued at $167,000 after purchasing an additional 791 shares in the last quarter. Cortina Asset Management LLC lifted its holdings in Ormat Technologies by 0.6% in the 4th quarter. Cortina Asset Management LLC now owns 133,718 shares of the energy company’s stock valued at $8,553,000 after purchasing an additional 846 shares in the last quarter. Finally, Advisor Group Inc. lifted its holdings in Ormat Technologies by 39.1% in the 3rd quarter. Advisor Group Inc. now owns 3,201 shares of the energy company’s stock valued at $196,000 after purchasing an additional 899 shares in the last quarter. Institutional investors and hedge funds own 46.32% of the company’s stock.

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About Ormat Technologies

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.

Analyst Recommendations for Ormat Technologies (NYSE:ORA)

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