Ormat Technologies’ (ORA) “Buy” Rating Reiterated at Roth Mkm

Ormat Technologies (NYSE:ORA)‘s stock had its “buy” rating restated by Roth Mkm in a report issued on Friday,Benzinga reports. They presently have a $92.00 price objective on the energy company’s stock, up from their prior price objective of $87.00. Roth Mkm’s price target would indicate a potential upside of 10.29% from the stock’s previous close.

ORA has been the subject of several other reports. Oppenheimer lifted their target price on Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a research note on Friday. JPMorgan Chase & Co. lifted their price objective on shares of Ormat Technologies from $69.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Ormat Technologies has an average rating of “Moderate Buy” and a consensus target price of $84.50.

Ormat Technologies Stock Performance

ORA stock traded up $0.37 during trading hours on Friday, reaching $83.42. The stock had a trading volume of 147,554 shares, compared to its average volume of 435,448. The stock has a market capitalization of $5.04 billion, a PE ratio of 38.09, a price-to-earnings-growth ratio of 4.22 and a beta of 0.53. The stock has a 50-day simple moving average of $76.79 and a 200 day simple moving average of $73.95. Ormat Technologies has a fifty-two week low of $58.73 and a fifty-two week high of $83.85. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.97 and a quick ratio of 0.89.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. The business had revenue of $212.96 million during the quarter, compared to analysts’ expectations of $214.07 million. Ormat Technologies had a return on equity of 5.40% and a net margin of 14.89%. Ormat Technologies’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the company posted $0.40 earnings per share. Analysts predict that Ormat Technologies will post 1.92 EPS for the current fiscal year.

Insider Activity

In other news, Director Dafna Sharir sold 433 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $74.91, for a total transaction of $32,436.03. Following the transaction, the director now directly owns 3,561 shares of the company’s stock, valued at approximately $266,754.51. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Dafna Sharir sold 433 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $74.91, for a total transaction of $32,436.03. Following the completion of the sale, the director now directly owns 3,561 shares in the company, valued at approximately $266,754.51. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Byron G. Wong sold 1,266 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.98, for a total value of $94,924.68. Following the completion of the transaction, the director now owns 6,906 shares in the company, valued at $517,811.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by company insiders.

Institutional Trading of Ormat Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. Texas Permanent School Fund Corp lifted its position in shares of Ormat Technologies by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 46,945 shares of the energy company’s stock worth $3,107,000 after buying an additional 601 shares during the last quarter. Quantbot Technologies LP lifted its holdings in shares of Ormat Technologies by 23.2% in the first quarter. Quantbot Technologies LP now owns 31,538 shares of the energy company’s stock worth $2,088,000 after acquiring an additional 5,933 shares during the last quarter. Swiss National Bank grew its holdings in shares of Ormat Technologies by 0.4% during the 1st quarter. Swiss National Bank now owns 107,234 shares of the energy company’s stock valued at $7,098,000 after purchasing an additional 400 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Ormat Technologies during the 1st quarter worth approximately $2,075,000. Finally, Sei Investments Co. increased its position in Ormat Technologies by 10.4% during the 1st quarter. Sei Investments Co. now owns 17,197 shares of the energy company’s stock worth $1,138,000 after purchasing an additional 1,615 shares in the last quarter. 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.