Ormat Technologies, Inc. (NYSE:ORA) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Ormat Technologies, Inc. (NYSE:ORA) have earned a consensus rating of “Moderate Buy” from the twelve research firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $121.8889.

Several analysts have recently issued reports on ORA shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Ormat Technologies in a research note on Wednesday, October 8th. UBS Group upped their price objective on shares of Ormat Technologies from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Roth Capital reissued a “buy” rating on shares of Ormat Technologies in a research report on Tuesday. Jefferies Financial Group reaffirmed a “buy” rating and issued a $125.00 target price on shares of Ormat Technologies in a report on Monday, November 24th. Finally, TD Cowen raised Ormat Technologies from a “hold” rating to a “buy” rating and increased their price target for the company from $115.00 to $130.00 in a research report on Friday, January 9th.

Insider Activity at Ormat Technologies

In other Ormat Technologies news, Director Ravit Barniv sold 1,753 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $112.54, for a total value of $197,282.62. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jessica Woelfel sold 721 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $115.00, for a total transaction of $82,915.00. Following the sale, the insider owned 3,433 shares of the company’s stock, valued at approximately $394,795. The trade was a 17.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 40,860 shares of company stock valued at $4,601,530 over the last quarter. Corporate insiders own 0.56% of the company’s stock.

Hedge Funds Weigh In On Ormat Technologies

Hedge funds have recently bought and sold shares of the company. Curio Wealth LLC raised its position in Ormat Technologies by 29,200.0% in the 2nd quarter. Curio Wealth LLC now owns 293 shares of the energy company’s stock worth $25,000 after purchasing an additional 292 shares during the period. Wolff Wiese Magana LLC bought a new stake in Ormat Technologies during the 4th quarter valued at $33,000. Jones Financial Companies Lllp grew its holdings in Ormat Technologies by 43.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company’s stock worth $35,000 after acquiring an additional 113 shares during the last quarter. Ameriflex Group Inc. raised its stake in shares of Ormat Technologies by 1,100.0% during the third quarter. Ameriflex Group Inc. now owns 360 shares of the energy company’s stock valued at $35,000 after acquiring an additional 330 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Ormat Technologies by 251.0% during the second quarter. EverSource Wealth Advisors LLC now owns 523 shares of the energy company’s stock worth $44,000 after purchasing an additional 374 shares during the period. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Ormat Technologies Stock Performance

Shares of ORA opened at $120.01 on Wednesday. The firm has a market capitalization of $7.29 billion, a P/E ratio of 55.18, a P/E/G ratio of 4.77 and a beta of 0.71. Ormat Technologies has a 52 week low of $61.58 and a 52 week high of $124.11. The stock has a 50 day moving average price of $112.37 and a two-hundred day moving average price of $100.73. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.70 and a current ratio of 0.77.

Ormat Technologies (NYSE:ORA) last announced its earnings results on Monday, November 3rd. The energy company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. Ormat Technologies had a return on equity of 5.35% and a net margin of 14.12%.The company had revenue of $249.73 million for the quarter, compared to analysts’ expectations of $235.03 million. During the same quarter in the previous year, the firm earned $0.36 earnings per share. Ormat Technologies’s quarterly revenue was up 17.9% on a year-over-year basis. Equities analysts forecast that Ormat Technologies will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, November 17th. Ormat Technologies’s payout ratio is presently 22.02%.

About Ormat Technologies

Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company’s core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.

Ormat’s offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.