Ormat Technologies (NYSE:ORA) Lowered to Neutral at Roth Capital

Roth Capital lowered shares of Ormat Technologies (NYSE:ORA) from a buy rating to a neutral rating in a research report sent to investors on Monday, The Fly reports. They currently have $78.00 price target on the energy company’s stock. The analysts noted that the move was a valuation call.

A number of other equities research analysts have also issued reports on the company. Zacks Investment Research raised Ormat Technologies from a hold rating to a buy rating and set a $80.00 target price on the stock in a research report on Monday, October 21st. UBS Group boosted their target price on Ormat Technologies from $59.00 to $73.00 and gave the stock a neutral rating in a research report on Friday, August 23rd. ValuEngine lowered Ormat Technologies from a buy rating to a hold rating in a research report on Wednesday, October 2nd. Finally, Cowen lowered Ormat Technologies from an outperform rating to a market perform rating and set a $76.00 target price on the stock. in a research report on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $73.40.

Shares of Ormat Technologies stock traded up $0.48 on Monday, reaching $76.45. 92,295 shares of the company were exchanged, compared to its average volume of 203,609. The stock has a fifty day moving average price of $75.24 and a 200-day moving average price of $67.72. The firm has a market capitalization of $3.82 billion, a price-to-earnings ratio of 36.75, a price-to-earnings-growth ratio of 3.86 and a beta of 1.03. The company has a current ratio of 1.23, a quick ratio of 1.11 and a debt-to-equity ratio of 0.70. Ormat Technologies has a fifty-two week low of $49.70 and a fifty-two week high of $79.18.

Ormat Technologies (NYSE:ORA) last announced its earnings results on Wednesday, November 6th. The energy company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.03). The company had revenue of $170.50 million for the quarter, compared to analyst estimates of $171.11 million. Ormat Technologies had a return on equity of 6.00% and a net margin of 12.59%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the firm earned $0.31 earnings per share. On average, equities analysts anticipate that Ormat Technologies will post 1.77 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Tuesday, November 19th. Ormat Technologies’s dividend payout ratio (DPR) is presently 21.15%.

In other Ormat Technologies news, insider Roberts Christopher purchased 100,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were purchased at an average cost of $3.08 per share, with a total value of $308,000.00. Also, Director Ravit Barniv sold 7,500 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $73.00, for a total value of $547,500.00. Following the transaction, the director now directly owns 8,259 shares in the company, valued at $602,907. The disclosure for this sale can be found here. Insiders have sold 28,212 shares of company stock worth $2,052,726 over the last three months. 0.63% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of ORA. Quantamental Technologies LLC acquired a new position in Ormat Technologies in the 2nd quarter worth about $64,000. Public Employees Retirement System of Ohio increased its position in Ormat Technologies by 20.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,383 shares of the energy company’s stock worth $88,000 after purchasing an additional 233 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in Ormat Technologies by 57.6% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,946 shares of the energy company’s stock worth $124,000 after purchasing an additional 711 shares during the last quarter. Quest Capital Management Inc. ADV acquired a new position in Ormat Technologies in the 3rd quarter worth about $137,000. Finally, Strs Ohio increased its position in Ormat Technologies by 130.0% in the 2nd quarter. Strs Ohio now owns 2,300 shares of the energy company’s stock worth $145,000 after purchasing an additional 1,300 shares during the last quarter. 74.79% of the stock is currently owned by hedge funds and other institutional investors.

About Ormat Technologies

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, New Zealand, and internationally. The company operates through three segments: Electricity, Product, and Other. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity.

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