Ormat Technologies, Inc. (NYSE:ORA) Given Average Recommendation of "Hold" by Analysts

Ormat Technologies, Inc. (NYSE:ORA - Get Free Report) has been given an average rating of "Hold" by the eight analysts that are presently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $82.25.

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

Ormat Technologies Stock Up 0.8 %

ORA stock traded up $0.53 during trading on Friday, reaching $66.03. The stock had a trading volume of 363,079 shares, compared to its average volume of 518,999. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $3.99 billion, a price-to-earnings ratio of 33.69, a P/E/G ratio of 2.96 and a beta of 0.57. Ormat Technologies has a one year low of $59.41 and a one year high of $84.30. The company's 50 day moving average is $66.98 and its two-hundred day moving average is $73.44.

Insider Activity at Ormat Technologies

In related news, major shareholder Corp Orix sold 3,700,000 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $75.38, for a total transaction of $278,906,000.00. Following the sale, the insider now owns 2,976,077 shares of the company's stock, valued at approximately $224,336,684.26. This represents a 55.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David Granot sold 1,256 shares of Ormat Technologies stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $82.00, for a total value of $102,992.00. Following the transaction, the director now directly owns 3,576 shares of the company's stock, valued at $293,232. The trade was 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 Inflows and Outflows

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Ormat Technologies by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 6,043,996 shares of the energy company's stock worth $409,305,000 after buying an additional 274,540 shares in the last quarter. Global Alpha Capital Management Ltd. raised its holdings in shares of Ormat Technologies by 6.1% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 2,446,624 shares of the energy company's stock valued at $188,125,000 after acquiring an additional 140,882 shares in the last quarter. Impax Asset Management Group plc boosted its position in shares of Ormat Technologies by 7.3% during the 4th quarter. Impax Asset Management Group plc now owns 2,415,479 shares of the energy company's stock valued at $162,586,000 after acquiring an additional 163,505 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Ormat Technologies by 6.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,586,479 shares of the energy company's stock worth $107,440,000 after purchasing an additional 93,418 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Ormat Technologies by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 1,373,426 shares of the energy company's stock worth $93,029,000 after purchasing an additional 72,135 shares during the last quarter. 95.49% of the stock is owned by institutional investors.

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.