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

Shares of Ormat Technologies, Inc. (NYSE:ORA - Get Free Report) have received a consensus recommendation of "Hold" from the seven research firms that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $83.57.

Several equities research analysts have recently commented on the stock. Piper Sandler began coverage on shares of Ormat Technologies in a research note on Thursday, December 19th. They issued a "neutral" rating and a $78.00 target price on the stock. Roth Mkm reaffirmed a "buy" rating and set a $92.00 price objective (up from $87.00) on shares of Ormat Technologies in a research note on Friday, November 8th. Finally, Oppenheimer lifted their target price on shares of Ormat Technologies from $86.00 to $91.00 and gave the company an "outperform" rating in a research note on Friday, November 8th.

Ormat Technologies Stock Performance

Shares of ORA traded down $1.34 on Friday, reaching $67.91. 1,152,169 shares of the stock traded hands, compared to its average volume of 469,953. Ormat Technologies has a 12 month low of $59.41 and a 12 month high of $84.30. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87. The stock's 50-day moving average price is $77.78 and its 200-day moving average price is $75.52. The firm has a market cap of $4.11 billion, a price-to-earnings ratio of 34.65, a P/E/G ratio of 3.75 and a beta of 0.53.

Ormat Technologies (NYSE:ORA - Get Free Report) last posted its earnings results on Wednesday, November 6th. The energy company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.05. The business had revenue of $211.80 million for the quarter, compared to analysts' expectations of $215.53 million. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The firm's revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.47 earnings per share. Equities analysts forecast that Ormat Technologies will post 1.93 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.71%. The ex-dividend date was Wednesday, November 20th. Ormat Technologies's dividend payout ratio (DPR) is presently 24.49%.

Insider Buying and Selling at Ormat Technologies

In other news, major shareholder Corp Orix sold 3,700,000 shares of the firm's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $75.38, for a total value of $278,906,000.00. Following the transaction, the insider now directly owns 2,976,077 shares in the company, valued at $224,336,684.26. This trade represents a 55.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David Granot sold 1,256 shares of the company's 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 completion of the sale, the director now owns 3,576 shares of the company's stock, valued at $293,232. This represents a 25.99 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Ormat Technologies

Large investors have recently bought and sold shares of the company. Blue Trust Inc. lifted its holdings in shares of Ormat Technologies by 180.3% during the 3rd quarter. Blue Trust Inc. now owns 356 shares of the energy company's stock valued at $26,000 after purchasing an additional 229 shares in the last quarter. Harrington Investments INC boosted its holdings in shares of Ormat Technologies by 3.0% in the second quarter. Harrington Investments INC now owns 7,950 shares of the energy company's stock valued at $570,000 after buying an additional 230 shares during the period. Arizona State Retirement System increased its position in shares of Ormat Technologies by 1.9% during the second quarter. Arizona State Retirement System now owns 15,214 shares of the energy company's stock worth $1,091,000 after acquiring an additional 286 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Ormat Technologies by 107.7% during the third quarter. UMB Bank n.a. now owns 617 shares of the energy company's stock worth $47,000 after acquiring an additional 320 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Ormat Technologies by 44.0% during the third quarter. GAMMA Investing LLC now owns 1,051 shares of the energy company's stock worth $81,000 after acquiring an additional 321 shares during the period. Institutional investors own 95.49% of the company's stock.

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.