Ormat Technologies (NYSE:ORA) Upgraded at StockNews.com

Ormat Technologies (NYSE:ORA – Get Rating) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Thursday.

Several other research firms also recently weighed in on ORA. TheStreet raised Ormat Technologies from a “c+” rating to a “b-” rating in a research report on Thursday, April 7th. Oppenheimer cut their target price on Ormat Technologies from $86.00 to $85.00 and set an “outperform” rating on the stock in a research report on Friday, February 25th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Ormat Technologies has an average rating of “Hold” and an average price target of $77.25.

Shares of ORA traded up $1.16 during mid-day trading on Thursday, hitting $70.60. 2,971,619 shares of the stock were exchanged, compared to its average volume of 419,390. The company has a market cap of $3.96 billion, a PE ratio of 60.86, a price-to-earnings-growth ratio of 3.71 and a beta of 0.45. Ormat Technologies has a 52-week low of $60.32 and a 52-week high of $88.52. The firm has a 50-day moving average of $78.69 and a two-hundred day moving average of $76.25. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.81 and a current ratio of 0.87.

Ormat Technologies (NYSE:ORA – Get Rating) last issued its quarterly earnings data on Monday, May 2nd. The energy company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.03. The business had revenue of $183.71 million for the quarter, compared to analysts’ expectations of $174.20 million. Ormat Technologies had a return on equity of 3.70% and a net margin of 9.59%. On average, sell-side analysts predict that Ormat Technologies will post 1.27 EPS for the current year.

In other Ormat Technologies news, CEO Doron Blachar sold 1,792 shares of the company’s stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $83.20, for a total value of $149,094.40. Following the completion of the sale, the chief executive officer now directly owns 9,671 shares in the company, valued at approximately $804,627.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stanley Stern sold 7,500 shares of the company’s stock in a transaction on Thursday, March 31st. The stock was sold at an average price of $80.85, for a total value of $606,375.00. The disclosure for this sale can be found here. Insiders sold a total of 47,661 shares of company stock worth $3,945,340 in the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Ormat Technologies by 7.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,362 shares of the energy company’s stock worth $3,466,000 after purchasing an additional 2,797 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Ormat Technologies by 146.4% during the 1st quarter. Advisors Asset Management Inc. now owns 7,918 shares of the energy company’s stock worth $648,000 after purchasing an additional 4,704 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Ormat Technologies during the 1st quarter worth $177,000. Eaton Vance Management lifted its stake in shares of Ormat Technologies by 9,839.0% during the 1st quarter. Eaton Vance Management now owns 19,878 shares of the energy company’s stock worth $1,627,000 after purchasing an additional 19,678 shares during the last quarter. Finally, Ensign Peak Advisors Inc lifted its stake in shares of Ormat Technologies by 120.8% during the 1st quarter. Ensign Peak Advisors Inc now owns 6,890 shares of the energy company’s stock worth $564,000 after purchasing an additional 3,770 shares during the last quarter. Hedge funds and other institutional investors own 96.42% of the company’s stock.

Ormat Technologies Company Profile (Get Rating)

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

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