Ormat Technologies (NYSE:ORA) Stock Rating Upgraded by StockNews.com

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

Several other research firms have also recently weighed in on ORA. JPMorgan Chase & Co. boosted their target price on Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, February 28th. Baird R W raised shares of Ormat Technologies to a “hold” rating in a report on Thursday, March 13th. Piper Sandler started coverage on shares of Ormat Technologies in a report on Thursday, December 19th. They set a “neutral” rating and a $78.00 price target for the company. Jefferies Financial Group lifted their price objective on Ormat Technologies from $78.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, March 25th. Finally, Robert W. Baird assumed coverage on Ormat Technologies in a report on Thursday, March 13th. They issued a “neutral” rating and a $81.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Ormat Technologies presently has a consensus rating of “Hold” and a consensus price target of $83.56.

Ormat Technologies Price Performance

ORA stock opened at $66.37 on Monday. The business’s 50-day moving average is $68.26 and its two-hundred day moving average is $72.52. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87. Ormat Technologies has a 1 year low of $59.41 and a 1 year high of $84.30. The firm has a market capitalization of $4.02 billion, a P/E ratio of 33.86, a P/E/G ratio of 3.18 and a beta of 0.52.

Insider Transactions at Ormat Technologies

In other Ormat Technologies news, insider Jessica Woelfel sold 409 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total transaction of $29,509.35. Following the completion of the transaction, the insider now directly owns 6,094 shares in the company, valued at approximately $439,682.10. This trade represents a 6.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David Granot sold 1,666 shares of Ormat Technologies stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $69.00, for a total transaction of $114,954.00. Following the transaction, the director now owns 1,910 shares of the company’s stock, valued at approximately $131,790. The trade was a 46.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,242 shares of company stock valued at $156,427 in the last 90 days. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ormat Technologies

Hedge funds have recently made changes to their positions in the business. Cerity Partners LLC grew its holdings in Ormat Technologies by 62.5% in the third quarter. Cerity Partners LLC now owns 5,496 shares of the energy company’s stock valued at $423,000 after purchasing an additional 2,114 shares during the period. Geode Capital Management LLC raised its holdings in shares of Ormat Technologies by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,301,291 shares of the energy company’s stock worth $100,140,000 after purchasing an additional 22,714 shares during the period. Tidal Investments LLC lifted its stake in shares of Ormat Technologies by 36.8% in the 3rd quarter. Tidal Investments LLC now owns 45,642 shares of the energy company’s stock valued at $3,512,000 after purchasing an additional 12,272 shares in the last quarter. Versant Capital Management Inc increased its position in Ormat Technologies by 132.4% during the 4th quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock worth $27,000 after purchasing an additional 229 shares in the last quarter. Finally, Mendota Financial Group LLC purchased a new position in Ormat Technologies in the fourth quarter valued at approximately $98,000. Institutional investors and hedge funds own 95.49% of the company’s stock.

About Ormat Technologies

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.