Ormat Technologies (NYSE:ORA) Lifted to Hold at StockNews.com

Ormat Technologies (NYSE:ORAGet Rating) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Wednesday.

A number of other analysts also recently issued reports on the stock. Roth Capital reiterated a “neutral” rating on shares of Ormat Technologies in a report on Sunday, November 6th. Oppenheimer upped their target price on Ormat Technologies from $85.00 to $97.00 and gave the stock an “outperform” rating in a report on Monday, August 8th. JPMorgan Chase & Co. dropped their price objective on Ormat Technologies from $97.00 to $88.00 and set a “neutral” rating on the stock in a research note on Thursday, October 20th. Cowen lifted their price target on Ormat Technologies to $84.00 in a report on Tuesday, August 9th. Finally, Citigroup assumed coverage on shares of Ormat Technologies in a research report on Thursday, October 20th. They set a “neutral” rating and a $91.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $87.00.

Ormat Technologies Stock Down 0.5 %

ORA stock opened at $98.99 on Wednesday. The business has a 50-day moving average of $91.42 and a 200-day moving average of $85.67. Ormat Technologies has a fifty-two week low of $60.32 and a fifty-two week high of $101.81. The stock has a market capitalization of $5.55 billion, a P/E ratio of 83.18, a P/E/G ratio of 6.76 and a beta of 0.49. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.28 and a quick ratio of 1.20.

Insider Activity at Ormat Technologies

In related news, President Shlomi Argas sold 12,106 shares of the firm’s stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $98.25, for a total transaction of $1,189,414.50. Following the completion of the sale, the president now owns 6,369 shares in the company, valued at $625,754.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Ormat Technologies news, President Shlomi Argas sold 12,106 shares of the firm’s stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $98.25, for a total value of $1,189,414.50. Following the sale, the president now owns 6,369 shares of the company’s stock, valued at approximately $625,754.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David Granot sold 743 shares of the company’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $101.00, for a total transaction of $75,043.00. Following the completion of the transaction, the director now owns 3,760 shares of the company’s stock, valued at $379,760. The disclosure for this sale can be found here. In the last three months, insiders sold 24,038 shares of company stock valued at $2,364,740. 1.30% of the stock is owned by insiders.

Institutional Trading of Ormat Technologies

Several hedge funds have recently added to or reduced their stakes in ORA. Strs Ohio boosted its holdings in Ormat Technologies by 47.4% during the 1st quarter. Strs Ohio now owns 2,800 shares of the energy company’s stock valued at $229,000 after acquiring an additional 900 shares during the period. Signaturefd LLC raised its holdings in Ormat Technologies by 77.6% during the 1st quarter. Signaturefd LLC now owns 451 shares of the energy company’s stock valued at $37,000 after buying an additional 197 shares during the last quarter. AlphaMark Advisors LLC bought a new stake in Ormat Technologies in the 1st quarter worth $56,000. State of New Jersey Common Pension Fund D increased its position in shares of Ormat Technologies by 11.9% in the first quarter. State of New Jersey Common Pension Fund D now owns 39,084 shares of the energy company’s stock valued at $3,198,000 after acquiring an additional 4,146 shares during the period. Finally, Trillium Asset Management LLC increased its position in shares of Ormat Technologies by 1.4% in the first quarter. Trillium Asset Management LLC now owns 328,324 shares of the energy company’s stock valued at $26,867,000 after acquiring an additional 4,463 shares during the period. 92.42% of the stock is owned by institutional investors.

Ormat Technologies Company Profile

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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.

Further Reading

Analyst Recommendations for Ormat Technologies (NYSE:ORA)

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