Ormat Technologies, Inc. (NYSE:ORA) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Ormat Technologies, Inc. (NYSE:ORA) have been assigned a consensus rating of “Moderate Buy” from the twelve ratings firms that are presently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $115.4444.

A number of research firms have recently weighed in on ORA. Roth Capital reissued a “buy” rating and set a $125.00 price objective on shares of Ormat Technologies in a research note on Wednesday, November 5th. Barclays lifted their target price on shares of Ormat Technologies from $89.00 to $118.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. JPMorgan Chase & Co. increased their price target on shares of Ormat Technologies from $99.00 to $111.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Robert W. Baird raised Ormat Technologies from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $87.00 to $103.00 in a research report on Wednesday, July 30th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ormat Technologies in a research note on Wednesday, October 8th.

Insider Activity

In related news, Director Ravit Barniv sold 1,753 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $112.54, for a total value of $197,282.62. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Assi Ginzburg sold 20,000 shares of Ormat Technologies stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $112.72, for a total transaction of $2,254,400.00. Following the completion of the transaction, the chief financial officer directly owned 4,482 shares of the company’s stock, valued at $505,211.04. This trade represents a 81.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 81,251 shares of company stock valued at $8,413,932. 0.56% of the stock is currently owned by insiders.

Institutional Trading of Ormat Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings in shares of Ormat Technologies by 19.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,890,235 shares of the energy company’s stock valued at $133,770,000 after purchasing an additional 303,756 shares in the last quarter. Geode Capital Management LLC lifted its stake in Ormat Technologies by 3.4% during the 2nd quarter. Geode Capital Management LLC now owns 1,467,156 shares of the energy company’s stock valued at $122,902,000 after acquiring an additional 48,038 shares during the period. Van Berkom & Associates Inc. boosted its holdings in shares of Ormat Technologies by 2.7% during the 1st quarter. Van Berkom & Associates Inc. now owns 1,280,026 shares of the energy company’s stock valued at $90,587,000 after acquiring an additional 33,719 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Ormat Technologies by 62.6% in the second quarter. Canada Pension Plan Investment Board now owns 1,073,639 shares of the energy company’s stock worth $89,928,000 after acquiring an additional 413,384 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Ormat Technologies by 1.9% during the third quarter. Northern Trust Corp now owns 751,132 shares of the energy company’s stock valued at $72,296,000 after purchasing an additional 14,069 shares during the last quarter. Institutional investors own 95.49% of the company’s stock.

Ormat Technologies Stock Performance

NYSE ORA opened at $107.66 on Tuesday. The company has a 50-day simple moving average of $102.82 and a two-hundred day simple moving average of $90.41. Ormat Technologies has a 12-month low of $61.58 and a 12-month high of $115.72. The firm has a market cap of $6.54 billion, a price-to-earnings ratio of 50.07, a PEG ratio of 4.84 and a beta of 0.77. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.77.

Ormat Technologies (NYSE:ORA) last released its earnings results on Monday, November 3rd. The energy company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. The company had revenue of $249.73 million during the quarter, compared to analyst estimates of $235.03 million. Ormat Technologies had a return on equity of 5.47% and a net margin of 14.49%.Ormat Technologies’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.36 EPS. Ormat Technologies has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Ormat Technologies will post 1.94 EPS for the current year.

Ormat Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be paid a dividend of $0.12 per share. The ex-dividend date is Monday, November 17th. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. Ormat Technologies’s payout ratio is presently 22.02%.

Ormat Technologies Company Profile

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