Ormat Technologies, Inc. (NYSE:ORA) Given Consensus Rating of “Hold” by Brokerages

Shares of Ormat Technologies, Inc. (NYSE:ORA) have been given an average rating of “Hold” by the eight brokerages that are currently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $82.25.

ORA has been the topic of a number of recent research reports. Jefferies Financial Group began coverage on Ormat Technologies in a research report on Friday, January 10th. They set a “hold” rating and a $73.00 price target on the stock. Roth Mkm reissued a “buy” rating and set a $92.00 target price (up previously from $87.00) on shares of Ormat Technologies in a research report on Friday, November 8th. Oppenheimer upped their target price on Ormat Technologies from $86.00 to $91.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, Piper Sandler initiated coverage on Ormat Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $78.00 price objective for the company.

Ormat Technologies Trading Down 0.4 %

Shares of ORA stock opened at $65.25 on Wednesday. The stock has a fifty day simple moving average of $72.58 and a two-hundred day simple moving average of $74.88. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95. Ormat Technologies has a 52-week low of $59.41 and a 52-week high of $84.30. The firm has a market capitalization of $3.95 billion, a PE ratio of 33.29, a PEG ratio of 3.01 and a beta of 0.57.

Ormat Technologies (NYSE:ORA) last posted its earnings results on Wednesday, November 6th. The energy company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The firm had revenue of $211.80 million for the quarter, compared to the consensus estimate of $215.53 million. During the same period in the previous year, the firm posted $0.47 EPS. The business’s quarterly revenue was up 1.8% on a year-over-year basis. On average, analysts predict that Ormat Technologies will post 1.94 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th were paid a dividend of $0.12 per share. The ex-dividend date was Wednesday, November 20th. This represents a $0.48 annualized dividend and a yield of 0.74%. Ormat Technologies’s dividend payout ratio is currently 24.49%.

Insider Activity

In other news, Director David Granot sold 1,256 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $82.00, for a total transaction of $102,992.00. Following the completion of the transaction, the director now directly owns 3,576 shares of the company’s stock, valued at approximately $293,232. This represents a 25.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Corp Orix sold 3,700,000 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $75.38, for a total transaction of $278,906,000.00. Following the completion of the transaction, the insider now directly owns 2,976,077 shares of the company’s stock, valued at approximately $224,336,684.26. This trade represents a 55.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Ormat Technologies

Several hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. boosted its position in Ormat Technologies by 2.0% during the fourth quarter. Pacer Advisors Inc. now owns 8,026 shares of the energy company’s stock worth $544,000 after acquiring an additional 160 shares during the last quarter. Blue Trust Inc. boosted its stake in Ormat Technologies by 180.3% in the 3rd quarter. Blue Trust Inc. now owns 356 shares of the energy company’s stock worth $26,000 after buying an additional 229 shares during the last quarter. Versant Capital Management Inc grew its holdings in Ormat Technologies by 132.4% in the 4th quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock valued at $27,000 after buying an additional 229 shares during the period. Caprock Group LLC increased its stake in shares of Ormat Technologies by 4.0% during the 4th quarter. Caprock Group LLC now owns 6,080 shares of the energy company’s stock valued at $412,000 after acquiring an additional 235 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in shares of Ormat Technologies by 107.7% during the 3rd quarter. UMB Bank n.a. now owns 617 shares of the energy company’s stock valued at $47,000 after acquiring an additional 320 shares during the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Ormat Technologies Company Profile

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.