Ormat Technologies (NYSE:ORA) Downgraded by StockNews.com to "Sell" – MarketBeat
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Ormat Technologies (NYSE:ORA – Get Rating) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
A number of other equities research analysts have also recently issued reports on the stock. Citigroup initiated coverage on shares of Ormat Technologies in a research report on Thursday, October 20th. They issued a “neutral” rating and a $91.00 target price for the company. JPMorgan Chase & Co. cut their price objective on shares of Ormat Technologies from $97.00 to $88.00 and set a “neutral” rating for the company in a report on Thursday, October 20th. Oppenheimer raised their target price on shares of Ormat Technologies from $85.00 to $97.00 and gave the stock an “outperform” rating in a report on Monday, August 8th. Roth Capital reiterated a “neutral” rating on shares of Ormat Technologies in a research note on Sunday. Finally, Cowen raised their price objective on Ormat Technologies to $84.00 in a research note on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $87.00.
Ormat Technologies Stock Performance
ORA traded down $0.84 during trading on Tuesday, hitting $100.09. The stock had a trading volume of 506,499 shares, compared to its average volume of 523,252. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.28 and a quick ratio of 1.20. The company has a 50 day moving average price of $90.78 and a 200-day moving average price of $84.95. Ormat Technologies has a one year low of $60.32 and a one year high of $101.81. The firm has a market cap of $5.61 billion, a price-to-earnings ratio of 84.11, a P/E/G ratio of 6.74 and a beta of 0.49.
Insider Buying and Selling at Ormat Technologies
In other news, Director Stanley Stern sold 7,500 shares of the business’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $96.85, for a total transaction of $726,375.00. Following the completion of the transaction, the director now owns 6,037 shares of the company’s stock, valued at approximately $584,683.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, President Shlomi Argas sold 12,106 shares of the stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $98.25, for a total value of $1,189,414.50. Following the completion of the transaction, the president now owns 6,369 shares of the company’s stock, valued at approximately $625,754.25. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Stanley Stern sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $96.85, for a total transaction of $726,375.00. Following the completion of the sale, the director now owns 6,037 shares in the company, valued at approximately $584,683.45. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,538 shares of company stock valued at $3,091,115. 1.30% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. Swiss National Bank increased its holdings in Ormat Technologies by 7.5% in the 1st quarter. Swiss National Bank now owns 105,934 shares of the energy company’s stock worth $8,669,000 after purchasing an additional 7,400 shares in the last quarter. Citizens Financial Group Inc RI increased its stake in shares of Ormat Technologies by 11.6% in the second quarter. Citizens Financial Group Inc RI now owns 6,462 shares of the energy company’s stock valued at $506,000 after buying an additional 671 shares during the period. Bailard Inc. bought a new position in Ormat Technologies in the 1st quarter valued at approximately $278,000. Trillium Asset Management LLC boosted its position in Ormat Technologies by 1.4% during the 1st quarter. Trillium Asset Management LLC now owns 328,324 shares of the energy company’s stock worth $26,867,000 after buying an additional 4,463 shares during the period. Finally, Advisor Group Holdings Inc. boosted its position in Ormat Technologies by 2.6% during the 1st quarter. Advisor Group Holdings Inc. now owns 5,824 shares of the energy company’s stock worth $522,000 after buying an additional 147 shares during the period. 92.42% of the stock is currently owned by institutional investors.
Ormat Technologies Company Profile
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Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guadeloupe, Guatemala, Ethiopia, New Zealand, Honduras, and internationally. It operates through 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.
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