Ormat Technologies (NYSE:ORA) Downgraded to Sell at StockNews.com

StockNews.com downgraded shares of Ormat Technologies (NYSE:ORAGet Rating) from a hold rating to a sell rating in a report published on Wednesday morning.

A number of other research firms have also recently issued reports on ORA. JPMorgan Chase & Co. cut their price objective on shares of Ormat Technologies from $82.00 to $73.00 in a research report on Thursday, January 20th. Bank of America cut shares of Ormat Technologies from a buy rating to a neutral rating and cut their price objective for the stock from $94.00 to $75.00 in a research report on Wednesday, January 26th. TheStreet raised shares of Ormat Technologies from a c+ rating to a b- rating in a research report on Thursday, April 7th. Finally, Oppenheimer cut their price objective on shares of Ormat Technologies from $86.00 to $85.00 and set an outperform rating on the stock in a research report on Friday, February 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $76.20.

Shares of Ormat Technologies stock opened at $81.46 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64. The business has a 50-day moving average price of $79.19 and a two-hundred day moving average price of $75.98. Ormat Technologies has a 1-year low of $60.32 and a 1-year high of $88.52. The company has a market cap of $4.57 billion, a P/E ratio of 70.22, a PEG ratio of 3.60 and a beta of 0.46.

Ormat Technologies (NYSE:ORAGet Rating) last issued its quarterly earnings results on Wednesday, February 23rd. The energy company reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.09. Ormat Technologies had a return on equity of 3.72% and a net margin of 9.59%. The firm had revenue of $191.00 million during the quarter, compared to the consensus estimate of $183.08 million. During the same period last year, the business posted $0.39 EPS. The business’s revenue was up 6.5% compared to the same quarter last year. Equities research analysts forecast that Ormat Technologies will post 1.33 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 31st. Investors of record on Monday, May 16th will be given a $0.12 dividend. The ex-dividend date is Friday, May 13th. This represents a $0.48 annualized dividend and a yield of 0.59%. Ormat Technologies’s payout ratio is 41.38%.

In related news, Director Stanley Stern sold 7,500 shares of the firm’s stock in a transaction dated Thursday, March 31st. The shares were sold at an average price of $80.85, for a total value of $606,375.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in ORA. Signaturefd LLC lifted its position in shares of Ormat Technologies by 77.6% during the 1st quarter. Signaturefd LLC now owns 451 shares of the energy company’s stock worth $37,000 after buying an additional 197 shares in the last quarter. Prospera Financial Services Inc bought a new position in shares of Ormat Technologies during the 1st quarter worth approximately $41,000. Concord Wealth Partners lifted its position in shares of Ormat Technologies by 286.0% during the 4th quarter. Concord Wealth Partners now owns 660 shares of the energy company’s stock worth $52,000 after buying an additional 489 shares in the last quarter. AlphaMark Advisors LLC bought a new position in shares of Ormat Technologies during the 1st quarter worth approximately $56,000. Finally, Geneos Wealth Management Inc. lifted its position in shares of Ormat Technologies by 38.6% during the 3rd quarter. Geneos Wealth Management Inc. now owns 880 shares of the energy company’s stock worth $59,000 after buying an additional 245 shares in the last quarter. 96.42% of the stock is currently owned by institutional investors and hedge funds.

Ormat Technologies Company Profile (Get Rating)

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guadeloupe, Guatemala, Ethiopia, New Zealand, Honduras, and internationally. It operates through 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.

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Analyst Recommendations for Ormat Technologies (NYSE:ORA)

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