Ormat Technologies (NYSE:ORA) Upgraded at StockNews.com

Ormat Technologies (NYSE:ORAGet Rating) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

A number of other research analysts have also recently commented on ORA. TheStreet upgraded shares of Ormat Technologies from a “c+” rating to a “b-” rating in a research report on Thursday, April 7th. Oppenheimer reduced their price target on shares of Ormat Technologies from $86.00 to $85.00 and set an “outperform” rating on the stock in a research report on Friday, February 25th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Ormat Technologies presently has an average rating of “Hold” and a consensus price target of $77.25.

Shares of ORA stock traded up $1.16 during trading on Thursday, hitting $70.60. The company had a trading volume of 2,971,619 shares, compared to its average volume of 419,390. The company has a quick ratio of 0.81, a current ratio of 0.87 and a debt-to-equity ratio of 0.61. The stock’s 50-day moving average is $78.69 and its two-hundred day moving average is $76.25. The stock has a market capitalization of $3.96 billion, a price-to-earnings ratio of 60.86, a price-to-earnings-growth ratio of 3.71 and a beta of 0.45. Ormat Technologies has a 52 week low of $60.32 and a 52 week high of $88.52.

Ormat Technologies (NYSE:ORAGet Rating) last posted its quarterly earnings data on Monday, May 2nd. The energy company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.03. The company had revenue of $183.71 million for the quarter, compared to analysts’ expectations of $174.20 million. Ormat Technologies had a net margin of 9.59% and a return on equity of 3.70%. On average, research analysts predict that Ormat Technologies will post 1.27 EPS for the current fiscal year.

In related news, Director Dan Falk sold 1,667 shares of the firm’s stock in a transaction on Friday, May 27th. The stock was sold at an average price of $83.96, for a total value of $139,961.32. Following the completion of the sale, the director now owns 2,014 shares of the company’s stock, valued at $169,095.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stanley Stern sold 7,500 shares of the firm’s stock in a transaction on Thursday, March 31st. The stock was sold at an average price of $80.85, for a total value of $606,375.00. The disclosure for this sale can be found here. Insiders sold 47,661 shares of company stock worth $3,945,340 in the last 90 days. Company insiders own 1.30% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Signaturefd LLC lifted its stake in Ormat Technologies by 77.6% in the first quarter. Signaturefd LLC now owns 451 shares of the energy company’s stock worth $37,000 after acquiring an additional 197 shares during the period. Prospera Financial Services Inc purchased a new position in Ormat Technologies during the first quarter valued at $41,000. Concord Wealth Partners lifted its position in Ormat Technologies by 286.0% during the fourth quarter. Concord Wealth Partners now owns 660 shares of the energy company’s stock valued at $52,000 after buying an additional 489 shares during the period. AlphaMark Advisors LLC purchased a new position in Ormat Technologies during the first quarter valued at $56,000. Finally, NN Investment Partners Holdings N.V. purchased a new position in Ormat Technologies during the fourth quarter valued at $111,000. 96.42% of the stock is owned by institutional investors.

About Ormat Technologies (Get Rating)

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guadeloupe, Guatemala, Ethiopia, New Zealand, Honduras, and internationally. It operates through 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.

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