Ormat Technologies (NYSE:ORA) Stock Rating Upgraded by Baird R W

Ormat Technologies (NYSE:ORA) was upgraded by Baird R W to a “hold” rating in a report issued on Thursday,Zacks.com reports.

ORA has been the topic of a number of other research reports. Jefferies Financial Group upgraded Ormat Technologies from a “hold” rating to a “buy” rating and increased their price objective for the company from $73.00 to $78.00 in a report on Thursday, February 20th. JPMorgan Chase & Co. raised their price objective on shares of Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, February 28th. Piper Sandler initiated coverage on shares of Ormat Technologies in a research report on Thursday, December 19th. They issued a “neutral” rating and a $78.00 target price on the stock. Finally, Robert W. Baird began coverage on shares of Ormat Technologies in a research report on Thursday. They issued a “neutral” rating and a $81.00 price target for the company. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Ormat Technologies has an average rating of “Hold” and a consensus target price of $82.67.

Ormat Technologies Stock Performance

NYSE:ORA opened at $71.92 on Thursday. Ormat Technologies has a 12 month low of $59.41 and a 12 month high of $84.30. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87. The firm has a market capitalization of $4.35 billion, a PE ratio of 36.69, a price-to-earnings-growth ratio of 3.18 and a beta of 0.51. The business’s fifty day moving average price is $66.79 and its 200 day moving average price is $73.02.

Insider Transactions at Ormat Technologies

In other news, Director David Granot sold 1,666 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $69.00, for a total value of $114,954.00. Following the transaction, the director now owns 1,910 shares of the company’s stock, valued at approximately $131,790. The trade was a 46.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Ormat Technologies

A number of institutional investors have recently added to or reduced their stakes in ORA. Versant Capital Management Inc increased its position in shares of Ormat Technologies by 132.4% in the fourth 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. acquired a new position in shares of Ormat Technologies in the fourth quarter worth $34,000. AlphaQuest LLC lifted its position in shares of Ormat Technologies by 4,691.7% in the fourth quarter. AlphaQuest LLC now owns 575 shares of the energy company’s stock valued at $39,000 after acquiring an additional 563 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Ormat Technologies in the fourth quarter valued at $66,000. Finally, Mendota Financial Group LLC acquired a new stake in shares of Ormat Technologies during the fourth quarter valued at $98,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.

About Ormat Technologies

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.