Ormat Technologies (NYSE:ORA) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Monday.
Separately, Zacks Investment Research downgraded Ormat Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, January 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $64.80.
Shares of ORA opened at $56.93 on Monday. Ormat Technologies has a 52-week low of $45.79 and a 52-week high of $66.49. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 19.04, a P/E/G ratio of 2.33 and a beta of 1.34. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.06 and a quick ratio of 0.97.
Ormat Technologies (NYSE:ORA) last issued its earnings results on Tuesday, November 6th. The energy company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.13). Ormat Technologies had a return on equity of 8.86% and a net margin of 17.39%. The company had revenue of $166.50 million during the quarter, compared to analyst estimates of $172.97 million. During the same period last year, the business earned $0.42 earnings per share. The firm’s revenue was up 5.9% compared to the same quarter last year. On average, sell-side analysts forecast that Ormat Technologies will post 1.66 EPS for the current fiscal year.
In related news, Director David Granot sold 759 shares of the firm’s stock in a transaction dated Monday, November 26th. The stock was sold at an average price of $54.00, for a total transaction of $40,986.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of ORA. Bank of America Corp DE increased its position in shares of Ormat Technologies by 39.2% during the 2nd quarter. Bank of America Corp DE now owns 146,062 shares of the energy company’s stock worth $7,769,000 after purchasing an additional 41,153 shares during the last quarter. Schroder Investment Management Group increased its position in shares of Ormat Technologies by 24.5% during the 2nd quarter. Schroder Investment Management Group now owns 87,544 shares of the energy company’s stock worth $4,658,000 after purchasing an additional 17,237 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Ormat Technologies by 1.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 259,457 shares of the energy company’s stock worth $13,801,000 after purchasing an additional 2,484 shares during the last quarter. Northern Trust Corp increased its position in shares of Ormat Technologies by 7.2% during the 2nd quarter. Northern Trust Corp now owns 529,445 shares of the energy company’s stock worth $28,162,000 after purchasing an additional 35,346 shares during the last quarter. Finally, Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management increased its position in shares of Ormat Technologies by 7.1% during the 3rd 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 purchasing an additional 50,000 shares during the last quarter. 74.74% of the stock is owned by hedge funds and other institutional investors.
Ormat Technologies Company Profile
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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