Ormat Technologies, Inc. (NYSE:ORA) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Ormat Technologies, Inc. (NYSE:ORA) have been given a consensus recommendation of “Hold” by the eight ratings firms that are covering the company, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $82.25.

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

Insider Buying and Selling at Ormat Technologies

In related news, major shareholder Corp Orix sold 3,700,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $75.38, for a total value of $278,906,000.00. Following the completion of the sale, the insider now directly owns 2,976,077 shares of the company’s stock, valued at $224,336,684.26. The trade was a 55.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director David Granot sold 1,256 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $82.00, for a total transaction of $102,992.00. Following the sale, the director now owns 3,576 shares in the company, valued at approximately $293,232. This trade represents a 25.99 % decrease in their position. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by corporate insiders.

Institutional Trading of Ormat Technologies

Several large investors have recently added to or reduced their stakes in ORA. Susquehanna International Group Ltd. bought a new stake in shares of Ormat Technologies during the 2nd quarter worth about $1,006,000. Chesapeake Capital Corp IL acquired a new stake in shares of Ormat Technologies during the third quarter valued at approximately $522,000. Holocene Advisors LP lifted its holdings in shares of Ormat Technologies by 28.7% in the third quarter. Holocene Advisors LP now owns 48,121 shares of the energy company’s stock valued at $3,702,000 after purchasing an additional 10,718 shares in the last quarter. Wesbanco Bank Inc. acquired a new stake in Ormat Technologies during the 3rd quarter worth about $1,731,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in Ormat Technologies by 23.1% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 178,217 shares of the energy company’s stock valued at $12,778,000 after purchasing an additional 33,439 shares in the last quarter. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Ormat Technologies Trading Down 1.0 %

NYSE ORA opened at $66.45 on Wednesday. Ormat Technologies has a one year low of $59.41 and a one year high of $84.30. The firm has a market cap of $4.02 billion, a price-to-earnings ratio of 33.90, a PEG ratio of 3.14 and a beta of 0.57. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95. The firm has a 50 day simple moving average of $73.43 and a 200-day simple moving average of $75.01.

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 the consensus estimate of $0.31 by $0.05. Ormat Technologies had a return on equity of 5.27% and a net margin of 13.33%. The firm had revenue of $211.80 million during the quarter, compared to analysts’ expectations of $215.53 million. During the same quarter in the previous year, the business earned $0.47 earnings per share. The firm’s revenue was up 1.8% compared to the same quarter last year. Equities research analysts anticipate that Ormat Technologies will post 1.94 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The company 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. This represents a $0.48 annualized dividend and a yield of 0.72%. The ex-dividend date was Wednesday, November 20th. Ormat Technologies’s dividend payout ratio (DPR) is 24.49%.

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.