Ormat Technologies (NYSE:ORA) Rating Reiterated by Roth Mkm

Ormat Technologies (NYSE:ORA)‘s stock had its “buy” rating reaffirmed by equities research analysts at Roth Mkm in a research note issued to investors on Monday, Benzinga reports. They presently have a $80.00 price target on the energy company’s stock. Roth Mkm’s target price would suggest a potential upside of 12.06% from the company’s current price.

A number of other research firms have also weighed in on ORA. UBS Group upped their price objective on Ormat Technologies from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, May 14th. TD Cowen increased their price target on Ormat Technologies from $70.00 to $76.00 and gave the stock a “hold” rating in a report on Friday, May 10th. Barclays dropped their price target on Ormat Technologies from $75.00 to $73.00 and set an “equal weight” rating on the stock in a research report on Monday, May 13th. JPMorgan Chase & Co. raised their target price on shares of Ormat Technologies from $69.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Finally, Oppenheimer increased their price target on shares of Ormat Technologies from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Ormat Technologies presently has an average rating of “Hold” and an average target price of $81.67.

Ormat Technologies Stock Performance

Shares of NYSE:ORA traded down $1.12 during trading on Monday, hitting $71.39. 69,031 shares of the company were exchanged, compared to its average volume of 473,166. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.12 and a quick ratio of 1.02. The company has a market cap of $4.31 billion, a PE ratio of 32.16, a P/E/G ratio of 3.87 and a beta of 0.51. Ormat Technologies has a 52-week low of $58.73 and a 52-week high of $78.51. The stock has a 50 day moving average of $73.84 and a 200 day moving average of $69.15.

Ormat Technologies (NYSE:ORA) last issued its earnings results on Tuesday, August 6th. The energy company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.03. The business had revenue of $212.96 million during the quarter, compared to analyst estimates of $214.07 million. Ormat Technologies had a return on equity of 5.45% and a net margin of 15.43%. Ormat Technologies’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 earnings per share. As a group, equities research analysts predict that Ormat Technologies will post 1.98 EPS for the current year.

Insider Activity at Ormat Technologies

In related news, Director David Granot sold 686 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $73.46, for a total value of $50,393.56. Following the transaction, the director now owns 4,832 shares in the company, valued at approximately $354,958.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Ormat Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of ORA. GAMMA Investing LLC purchased a new position in shares of Ormat Technologies during the 4th quarter worth $32,000. EntryPoint Capital LLC acquired a new stake in shares of Ormat Technologies during the 1st quarter worth $50,000. Manchester Capital Management LLC raised its position in shares of Ormat Technologies by 593.0% in the 4th quarter. Manchester Capital Management LLC now owns 797 shares of the energy company’s stock worth $60,000 after buying an additional 682 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Ormat Technologies by 50.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,540 shares of the energy company’s stock worth $117,000 after purchasing an additional 514 shares during the period. Finally, PFG Investments LLC acquired a new position in shares of Ormat Technologies in the 1st quarter valued at about $202,000. 95.49% of the stock is owned by institutional investors and hedge funds.

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.