Ormat Technologies (NYSE:ORA) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Ormat Technologies (NYSE:ORA) had its price objective lifted by analysts at JPMorgan Chase & Co. from $99.00 to $111.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the energy company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential downside of 3.61% from the company’s previous close.

Several other research analysts have also recently issued reports on ORA. Barclays lowered their price objective on Ormat Technologies from $90.00 to $89.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. UBS Group upped their target price on Ormat Technologies from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Cowen reissued a “hold” rating on shares of Ormat Technologies in a research report on Wednesday. Jefferies Financial Group upped their target price on Ormat Technologies from $97.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Finally, Robert W. Baird raised Ormat Technologies from a “neutral” rating to an “outperform” rating and upped their target price for the company from $87.00 to $103.00 in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $107.20.

Ormat Technologies Stock Up 6.0%

Shares of NYSE:ORA traded up $6.51 on Wednesday, hitting $115.16. 731,740 shares of the company’s stock were exchanged, compared to its average volume of 526,770. The firm’s 50-day moving average is $99.21 and its 200 day moving average is $87.93. The company has a market capitalization of $6.99 billion, a PE ratio of 53.57, a P/E/G ratio of 4.84 and a beta of 0.69. Ormat Technologies has a 1-year low of $61.58 and a 1-year high of $115.72. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.64 and a current ratio of 0.70.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings data on Monday, November 3rd. The energy company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.04. The business had revenue of $249.73 million during the quarter, compared to analysts’ expectations of $235.03 million. Ormat Technologies had a return on equity of 5.47% and a net margin of 14.49%.The business’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.36 EPS. Ormat Technologies has set its FY 2025 guidance at EPS. Sell-side analysts predict that Ormat Technologies will post 1.94 EPS for the current year.

Insider Buying and Selling at Ormat Technologies

In other news, Director Dafna Sharir sold 981 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $96.70, for a total transaction of $94,862.70. Following the completion of the transaction, the director directly owned 2,257 shares of the company’s stock, valued at approximately $218,251.90. This represents a 30.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jessica Woelfel sold 5,611 shares of the stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $94.80, for a total value of $531,922.80. Following the transaction, the insider directly owned 3,433 shares of the company’s stock, valued at approximately $325,448.40. This trade represents a 62.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 40,926 shares of company stock worth $3,861,296. 0.56% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ormat Technologies

Several hedge funds have recently bought and sold shares of ORA. Curio Wealth LLC increased its stake in Ormat Technologies by 29,200.0% in the 2nd quarter. Curio Wealth LLC now owns 293 shares of the energy company’s stock valued at $25,000 after purchasing an additional 292 shares in the last quarter. Jones Financial Companies Lllp increased its stake in Ormat Technologies by 43.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company’s stock valued at $35,000 after purchasing an additional 113 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Ormat Technologies by 251.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 523 shares of the energy company’s stock valued at $44,000 after purchasing an additional 374 shares in the last quarter. AlphaQuest LLC increased its stake in Ormat Technologies by 218.0% in the 3rd quarter. AlphaQuest LLC now owns 547 shares of the energy company’s stock valued at $53,000 after purchasing an additional 375 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its stake in Ormat Technologies by 313.2% in the 3rd quarter. Hantz Financial Services Inc. now owns 595 shares of the energy company’s stock valued at $57,000 after purchasing an additional 451 shares in the last quarter. 95.49% of the stock is 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, 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.