Ormat Technologies, Inc. (ORA) Given Average Recommendation of “Hold” by Analysts

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Shares of Ormat Technologies, Inc. (NYSE:ORA) have earned an average rating of “Hold” from the nine analysts that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $66.50.

ORA has been the subject of a number of research reports. Zacks Investment Research upgraded Ormat Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, October 9th. ValuEngine upgraded Ormat Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, September 12th. TheStreet downgraded Ormat Technologies from a “b-” rating to a “c+” rating in a research note on Thursday, August 9th. Finally, JPMorgan Chase & Co. upgraded Ormat Technologies from a “neutral” rating to an “overweight” rating and decreased their price target for the stock from $64.00 to $60.00 in a research note on Thursday, August 9th.

In related news, EVP Bob Sullivan sold 20,329 shares of Ormat Technologies stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $56.94, for a total value of $1,157,533.26. Following the completion of the transaction, the executive vice president now directly owns 23,329 shares in the company, valued at $1,328,353.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. lifted its holdings in Ormat Technologies by 16.3% in the second quarter. BlackRock Inc. now owns 2,872,315 shares of the energy company’s stock worth $152,778,000 after acquiring an additional 403,269 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its holdings in Ormat Technologies by 8.4% in the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,423,780 shares of the energy company’s stock worth $128,921,000 after acquiring an additional 186,974 shares during the last quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management lifted its holdings in Ormat Technologies by 7.1% in the third quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management now owns 754,586 shares of the energy company’s stock worth $40,830,000 after acquiring an additional 50,000 shares during the last quarter. Northern Trust Corp lifted its holdings in Ormat Technologies by 7.2% in the second quarter. Northern Trust Corp now owns 529,445 shares of the energy company’s stock worth $28,162,000 after acquiring an additional 35,346 shares during the last quarter. Finally, Glenmede Trust Co. NA lifted its holdings in Ormat Technologies by 3.7% in the second quarter. Glenmede Trust Co. NA now owns 517,197 shares of the energy company’s stock worth $27,510,000 after acquiring an additional 18,505 shares during the last quarter. 72.94% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:ORA traded up $0.41 during mid-day trading on Monday, reaching $52.05. The stock had a trading volume of 1,450 shares, compared to its average volume of 191,398. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 17.38, a price-to-earnings-growth ratio of 2.74 and a beta of 1.47. Ormat Technologies has a 1-year low of $45.79 and a 1-year high of $70.68. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.05 and a current ratio of 1.16.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings results on Tuesday, August 7th. The energy company reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.17). The firm had revenue of $178.30 million during the quarter, compared to analyst estimates of $176.06 million. Ormat Technologies had a return on equity of 9.60% and a net margin of 18.88%. On average, equities research analysts forecast that Ormat Technologies will post 1.71 EPS for the current fiscal year.

About Ormat Technologies

Ormat Technologies, Inc engages in the geothermal and recovered energy power business worldwide. The company operates through Electricity and Product segments. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity. This segment also offers energy storage, demand response, and energy management related services.

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Analyst Recommendations for Ormat Technologies (NYSE:ORA)

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