Ormat Technologies (NYSE:ORA - Free Report) had its target price hoisted by Jefferies Financial Group from $78.00 to $86.00 in a research note published on Tuesday,Benzinga reports. They currently have a buy rating on the energy company's stock.
A number of other analysts have also recently commented on ORA. Piper Sandler initiated coverage on Ormat Technologies in a research report on Thursday, December 19th. They set a "neutral" rating and a $78.00 price objective for the company. Robert W. Baird initiated coverage on shares of Ormat Technologies in a research note on Thursday, March 13th. They issued a "neutral" rating and a $81.00 price objective on the stock. Baird R W upgraded shares of Ormat Technologies to a "hold" rating in a research report on Thursday, March 13th. Finally, JPMorgan Chase & Co. increased their price target on shares of Ormat Technologies from $71.00 to $75.00 and gave the stock a "neutral" rating in a research report on Friday, February 28th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $83.56.
Check Out Our Latest Stock Analysis on ORA
Ormat Technologies Stock Performance
NYSE:ORA traded up $0.44 during trading hours on Tuesday, reaching $70.55. The company had a trading volume of 316,683 shares, compared to its average volume of 489,062. The firm has a market cap of $4.27 billion, a price-to-earnings ratio of 36.00, a PEG ratio of 3.18 and a beta of 0.51. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The firm's 50 day moving average price is $67.59 and its 200-day moving average price is $72.84. Ormat Technologies has a 52 week low of $59.41 and a 52 week high of $84.30.
Ormat Technologies Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.48 annualized dividend and a dividend yield of 0.68%. Ormat Technologies's payout ratio is 23.53%.
Insider Buying and Selling
In other Ormat Technologies news, insider Jessica Woelfel sold 409 shares of Ormat Technologies stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total value of $29,509.35. Following the sale, the insider now directly owns 6,094 shares in the company, valued at approximately $439,682.10. The trade was a 6.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David Granot sold 1,666 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $69.00, for a total value of $114,954.00. Following the transaction, the director now owns 1,910 shares of the company's stock, valued at approximately $131,790. The trade was a 46.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,242 shares of company stock valued at $156,427. Company insiders own 1.00% of the company's stock.
Institutional Investors Weigh In On Ormat Technologies
A number of hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in Ormat Technologies in the 4th quarter worth approximately $62,851,000. Vanguard Group Inc. increased its position in 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 purchasing an additional 274,540 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in Ormat Technologies during the third quarter valued at $19,096,000. Impax Asset Management Group plc lifted its position in Ormat Technologies by 7.3% during the fourth quarter. Impax Asset Management Group plc now owns 2,415,479 shares of the energy company's stock valued at $162,586,000 after purchasing an additional 163,505 shares during the last quarter. Finally, Soros Fund Management LLC purchased a new position in shares of Ormat Technologies in the 4th quarter worth $10,158,000. 95.49% of the stock is currently owned by hedge funds and other institutional investors.
Ormat Technologies Company Profile
(
Get Free Report)
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.
See Also
Before you consider Ormat Technologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ormat Technologies wasn't on the list.
While Ormat Technologies currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
