Ormat Technologies (NYSE:ORA) Research Coverage Started at Bank of America – MarketBeat
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Investment analysts at Bank of America began coverage on shares of Ormat Technologies (NYSE:ORA – Get Rating) in a research note issued to investors on Tuesday, The Fly reports. The firm set a “neutral” rating on the energy company’s stock.
A number of other brokerages also recently weighed in on ORA. Cowen boosted their price target on Ormat Technologies to $84.00 in a research report on Tuesday, August 9th. StockNews.com upgraded Ormat Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, November 16th. Roth Capital reaffirmed a “neutral” rating on shares of Ormat Technologies in a research report on Sunday, November 6th. JPMorgan Chase & Co. dropped their price objective on shares of Ormat Technologies from $97.00 to $88.00 and set a “neutral” rating on the stock in a research report on Thursday, October 20th. Finally, Oppenheimer upped their price target on shares of Ormat Technologies from $85.00 to $97.00 and gave the company an “outperform” rating in a research note on Monday, August 8th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $87.00.
Ormat Technologies Stock Performance
Shares of ORA stock opened at $90.00 on Tuesday. The company has a fifty day moving average price of $91.10 and a two-hundred day moving average price of $86.06. Ormat Technologies has a one year low of $60.32 and a one year high of $101.81. The stock has a market cap of $5.04 billion, a P/E ratio of 75.63, a P/E/G ratio of 6.15 and a beta of 0.49. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.28 and a quick ratio of 1.20.
Insider Buying and Selling at Ormat Technologies
In related news, Director David Granot sold 455 shares of the company’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $93.00, for a total transaction of $42,315.00. Following the completion of the sale, the director now owns 2,922 shares of the company’s stock, valued at $271,746. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Dafna Sharir sold 1,588 shares of the firm’s stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $98.00, for a total value of $155,624.00. Following the sale, the director now directly owns 2,489 shares of the company’s stock, valued at $243,922. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Granot sold 455 shares of the business’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $93.00, for a total value of $42,315.00. Following the transaction, the director now directly owns 2,922 shares of the company’s stock, valued at approximately $271,746. The disclosure for this sale can be found here. Insiders sold 24,038 shares of company stock valued at $2,364,740 in the last three months. Corporate insiders own 1.30% of the company’s stock.
Institutional Trading of Ormat Technologies
A number of hedge funds and other institutional investors have recently modified their holdings of ORA. Total Clarity Wealth Management Inc. bought a new position in Ormat Technologies in the second quarter valued at about $27,000. IFP Advisors Inc grew its holdings in Ormat Technologies by 30.0% during the 3rd quarter. IFP Advisors Inc now owns 533 shares of the energy company’s stock worth $27,000 after acquiring an additional 123 shares during the last quarter. Signaturefd LLC increased its position in Ormat Technologies by 77.6% in the 1st quarter. Signaturefd LLC now owns 451 shares of the energy company’s stock valued at $37,000 after acquiring an additional 197 shares during the period. Wipfli Financial Advisors LLC bought a new position in shares of Ormat Technologies during the third quarter valued at $37,000. Finally, Prospera Financial Services Inc acquired a new position in shares of Ormat Technologies during the first quarter worth $41,000. Institutional investors own 92.42% of the company’s stock.
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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