Ormat Technologies (NYSE:ORA) was downgraded by Guggenheim from a “buy” rating to a “neutral” rating in a research report issued on Wednesday, The Fly reports.
ORA has been the topic of a number of other research reports. Roth Capital lowered their price target on Ormat Technologies from $70.00 to $67.00 and set a “buy” rating on the stock in a report on Friday, March 2nd. Cowen set a $67.00 price target on Ormat Technologies and gave the stock a “buy” rating in a report on Thursday, March 1st. Zacks Investment Research upgraded Ormat Technologies from a “sell” rating to a “hold” rating in a report on Thursday, June 7th. Oppenheimer restated a “market perform” rating on shares of Ormat Technologies in a report on Friday, April 6th. They noted that the move was a valuation call. Finally, UBS Group initiated coverage on Ormat Technologies in a report on Friday, March 16th. They issued a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. Ormat Technologies has a consensus rating of “Hold” and a consensus target price of $69.17.
Shares of ORA opened at $51.89 on Wednesday. The company has a market capitalization of $2.60 billion, a P/E ratio of 17.35, a P/E/G ratio of 2.33 and a beta of 1.32. Ormat Technologies has a 1-year low of $50.43 and a 1-year high of $70.68. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.61.
Ormat Technologies (NYSE:ORA) last issued its earnings results on Friday, March 16th. The energy company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.72. The business had revenue of $166.37 million during the quarter, compared to the consensus estimate of $169.36 million. Ormat Technologies had a return on equity of 11.11% and a net margin of 24.00%. analysts anticipate that Ormat Technologies will post 2 EPS for the current fiscal year.
A number of large investors have recently made changes to their positions in ORA. Orix Corp acquired a new stake in Ormat Technologies during the 4th quarter valued at $702,829,000. Delek Group Ltd. acquired a new stake in Ormat Technologies during the 4th quarter valued at $41,008,000. Clal Insurance Enterprises Holdings Ltd grew its holdings in Ormat Technologies by 27.7% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,977,906 shares of the energy company’s stock valued at $126,507,000 after buying an additional 429,123 shares during the last quarter. Van ECK Associates Corp grew its holdings in Ormat Technologies by 627.9% during the 1st quarter. Van ECK Associates Corp now owns 386,501 shares of the energy company’s stock valued at $21,791,000 after buying an additional 333,403 shares during the last quarter. Finally, Glenmede Trust Co. NA grew its holdings in Ormat Technologies by 145.4% during the 4th quarter. Glenmede Trust Co. NA now owns 498,692 shares of the energy company’s stock valued at $31,894,000 after buying an additional 295,435 shares during the last quarter. Hedge funds and other institutional investors own 71.05% of the company’s stock.
Ormat Technologies Company Profile
Ormat Technologies, Inc engages in the geothermal and recovered energy power business worldwide. The company operates through Electricity and Product segments. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity. This segment also offers energy storage, demand response, and energy management related services.
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