Ormat Technologies (NYSE:ORA) Cut to Hold at Jefferies Financial Group

Jefferies Financial Group downgraded shares of Ormat Technologies (NYSE:ORA) from a buy rating to a hold rating in a report published on Friday, MarketBeat reports. Jefferies Financial Group currently has $130.00 price target on the energy company’s stock, up from their previous price target of $125.00.

ORA has been the topic of a number of other research reports. JPMorgan Chase & Co. upped their target price on Ormat Technologies from $99.00 to $111.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Roth Mkm set a $139.00 price objective on shares of Ormat Technologies in a research note on Wednesday, January 28th. Barclays cut their price objective on shares of Ormat Technologies from $118.00 to $108.00 and set an “overweight” rating on the stock in a report on Thursday, January 15th. Robert W. Baird set a $143.00 target price on shares of Ormat Technologies in a report on Wednesday, January 14th. Finally, TD Cowen upgraded Ormat Technologies from a “hold” rating to a “buy” rating in a research note on Friday, January 9th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Ormat Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $130.00.

Ormat Technologies Stock Down 1.9%

Shares of NYSE ORA opened at $118.15 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.70 and a debt-to-equity ratio of 0.79. Ormat Technologies has a 12 month low of $62.91 and a 12 month high of $132.58. The firm has a market capitalization of $7.18 billion, a PE ratio of 54.20, a price-to-earnings-growth ratio of 4.74 and a beta of 0.77. The firm has a fifty day simple moving average of $117.68 and a two-hundred day simple moving average of $106.38.

Hedge Funds Weigh In On Ormat Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of ORA. AQR Capital Management LLC grew its stake in shares of Ormat Technologies by 324.1% in the first quarter. AQR Capital Management LLC now owns 24,918 shares of the energy company’s stock worth $1,740,000 after acquiring an additional 19,043 shares during the period. United Services Automobile Association purchased a new stake in Ormat Technologies during the 1st quarter valued at $243,000. Empowered Funds LLC lifted its holdings in shares of Ormat Technologies by 7.3% during the 1st quarter. Empowered Funds LLC now owns 4,201 shares of the energy company’s stock valued at $297,000 after buying an additional 286 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Ormat Technologies by 22.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 234,467 shares of the energy company’s stock valued at $16,593,000 after buying an additional 43,483 shares during the period. Finally, Intech Investment Management LLC grew its holdings in shares of Ormat Technologies by 10.5% in the first quarter. Intech Investment Management LLC now owns 24,592 shares of the energy company’s stock worth $1,740,000 after acquiring an additional 2,329 shares during the period. Institutional investors own 95.49% of the company’s stock.

Ormat Technologies Company Profile

Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company’s core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.

Ormat’s offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.