A number of other brokerages also recently weighed in on ORA. Bank of America downgraded shares of Ormat Technologies from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $94.00 to $75.00 in a report on Wednesday, January 26th. JPMorgan Chase & Co. decreased their price objective on shares of Ormat Technologies from $82.00 to $73.00 in a report on Thursday, January 20th. Oppenheimer decreased their price objective on shares of Ormat Technologies from $86.00 to $85.00 and set an “outperform” rating on the stock in a report on Friday, February 25th. Finally, TheStreet upgraded shares of Ormat Technologies from a “c+” rating to a “b-” rating in a report on Thursday, April 7th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $77.25.
Shares of ORA opened at $74.34 on Thursday. The company has a market cap of $4.17 billion, a price-to-earnings ratio of 64.09, a PEG ratio of 3.72 and a beta of 0.46. Ormat Technologies has a 1-year low of $60.32 and a 1-year high of $88.52. The company’s fifty day simple moving average is $79.65 and its 200 day simple moving average is $76.15. The company has a current ratio of 0.87, a quick ratio of 0.81 and a debt-to-equity ratio of 0.61.
In other news, Director Stanley Stern sold 7,500 shares of the business’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 Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of ORA. Impax Asset Management Group plc lifted its position in Ormat Technologies by 39.1% during the third quarter. Impax Asset Management Group plc now owns 3,055,817 shares of the energy company’s stock worth $202,605,000 after purchasing an additional 858,550 shares during the period. Morgan Stanley lifted its position in Ormat Technologies by 1,168.4% during the second quarter. Morgan Stanley now owns 738,866 shares of the energy company’s stock worth $51,373,000 after purchasing an additional 680,613 shares during the period. Global Alpha Capital Management Ltd. lifted its position in Ormat Technologies by 30.6% during the fourth quarter. Global Alpha Capital Management Ltd. now owns 2,161,167 shares of the energy company’s stock worth $167,191,000 after purchasing an additional 506,010 shares during the period. Neuberger Berman Group LLC lifted its position in Ormat Technologies by 61.9% during the third quarter. Neuberger Berman Group LLC now owns 941,666 shares of the energy company’s stock worth $62,006,000 after purchasing an additional 359,961 shares during the period. Finally, Norges Bank bought a new stake in Ormat Technologies during the fourth quarter worth about $15,823,000. 96.42% of the stock is 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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