Ormat Technologies, Inc. (NYSE:ORA) Given Average Recommendation of “Moderate Buy” by Brokerages

Ormat Technologies, Inc. (NYSE:ORA) has been assigned a consensus recommendation of “Moderate Buy” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $82.88.

ORA has been the topic of a number of research analyst reports. Roth Mkm reiterated a “buy” rating and set a $92.00 target price (up previously from $87.00) on shares of Ormat Technologies in a research report on Friday, November 8th. Jefferies Financial Group upgraded Ormat Technologies from a “hold” rating to a “buy” rating and boosted their price target for the company from $73.00 to $78.00 in a research report on Thursday. Piper Sandler started coverage on Ormat Technologies in a research report on Thursday, December 19th. They issued a “neutral” rating and a $78.00 price target on the stock. Finally, Oppenheimer boosted their price target on Ormat Technologies from $86.00 to $91.00 and gave the company an “outperform” rating in a research report on Friday, November 8th.

Ormat Technologies Stock Up 5.2 %

ORA opened at $69.43 on Friday. The business’s 50-day simple moving average is $66.60 and its 200-day simple moving average is $73.36. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95. Ormat Technologies has a one year low of $59.41 and a one year high of $84.30. The stock has a market capitalization of $4.20 billion, a P/E ratio of 35.42, a price-to-earnings-growth ratio of 3.07 and a beta of 0.57.

Insider Transactions at Ormat Technologies

In related news, Director David Granot sold 1,256 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $82.00, for a total value of $102,992.00. Following the sale, the director now owns 3,576 shares of the company’s stock, valued at approximately $293,232. This represents a 25.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Corp Orix sold 3,700,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $75.38, for a total value of $278,906,000.00. Following the completion of the sale, the insider now directly owns 2,976,077 shares in the company, valued at approximately $224,336,684.26. The trade was a 55.42 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Ormat Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. lifted its stake in Ormat Technologies by 180.3% in the 3rd quarter. Blue Trust Inc. now owns 356 shares of the energy company’s stock valued at $26,000 after buying an additional 229 shares in the last quarter. Versant Capital Management Inc lifted its stake in Ormat Technologies by 132.4% in the 4th quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock valued at $27,000 after buying an additional 229 shares in the last quarter. Stuart Chaussee & Associates Inc. purchased a new stake in Ormat Technologies in the 4th quarter valued at approximately $34,000. AlphaQuest LLC raised its holdings in Ormat Technologies by 4,691.7% in the 4th quarter. AlphaQuest LLC now owns 575 shares of the energy company’s stock valued at $39,000 after acquiring an additional 563 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in Ormat Technologies in the 4th quarter valued at $66,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.

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.