Ormat Technologies, Inc. (NYSE:ORA) received a $70.00 price target from investment analysts at Roth Capital in a report released on Monday. The brokerage currently has a “buy” rating on the energy company’s stock. Roth Capital’s price target would suggest a potential upside of 12.43% from the company’s current price.
Several other equities research analysts have also recently commented on the company. Zacks Investment Research cut Ormat Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $70.00 price target (up previously from $65.00) on shares of Ormat Technologies in a research note on Wednesday, September 27th. Cowen and Company set a $67.00 price target on Ormat Technologies and gave the stock a “buy” rating in a research note on Friday, August 18th. Finally, TheStreet cut Ormat Technologies from a “b” rating to a “c+” rating in a research note on Monday, August 14th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $66.88.
Shares of Ormat Technologies (ORA) opened at $62.26 on Monday. Ormat Technologies has a 52 week low of $45.67 and a 52 week high of $65.91. The company has a current ratio of 1.72, a quick ratio of 1.62 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $3,199.26, a P/E ratio of 27.98, a PEG ratio of 2.10 and a beta of 1.25.
Ormat Technologies (NYSE:ORA) last released its quarterly earnings results on Tuesday, November 7th. The energy company reported $0.42 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.06). Ormat Technologies had a return on equity of 9.41% and a net margin of 16.99%. The company had revenue of $157.20 million for the quarter, compared to analysts’ expectations of $159.02 million. During the same quarter last year, the company earned $0.56 EPS. Ormat Technologies’s revenue for the quarter was down 14.8% compared to the same quarter last year. research analysts forecast that Ormat Technologies will post 2.24 EPS for the current fiscal year.
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In related news, VP Shimon Hatzir sold 4,843 shares of the company’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $59.00, for a total transaction of $285,737.00. Following the transaction, the vice president now owns 4,843 shares of the company’s stock, valued at $285,737. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David Granot sold 2,500 shares of the company’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $57.66, for a total value of $144,150.00. Following the transaction, the director now directly owns 2,500 shares in the company, valued at approximately $144,150. The disclosure for this sale can be found here. Insiders have sold 84,359 shares of company stock worth $5,013,332 in the last ninety days. 14.74% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of ORA. UBS Asset Management Americas Inc. grew its holdings in Ormat Technologies by 45.8% in the first quarter. UBS Asset Management Americas Inc. now owns 16,671 shares of the energy company’s stock valued at $952,000 after purchasing an additional 5,233 shares during the last quarter. FMR LLC acquired a new stake in Ormat Technologies in the first quarter valued at $8,562,000. Vanguard Group Inc. grew its holdings in Ormat Technologies by 5.8% in the first quarter. Vanguard Group Inc. now owns 3,223,631 shares of the energy company’s stock valued at $184,006,000 after purchasing an additional 177,288 shares during the last quarter. UBS Group AG grew its holdings in Ormat Technologies by 270.2% in the first quarter. UBS Group AG now owns 21,706 shares of the energy company’s stock valued at $1,239,000 after purchasing an additional 15,843 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in Ormat Technologies by 6,068.3% in the first quarter. BlackRock Inc. now owns 2,473,872 shares of the energy company’s stock valued at $141,210,000 after purchasing an additional 2,433,766 shares during the last quarter. 45.96% of the stock is currently owned by institutional investors.
About Ormat Technologies
Ormat Technologies, Inc is engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy-based power plants. Its equipment manufacturing operations are located in Israel. It conducts its business activities in two business segments: Electricity segment and Product segment.
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