Roth Mkm Reaffirms "Buy" Rating for Ormat Technologies (NYSE:ORA)

Ormat Technologies (NYSE:ORA - Get Free Report)'s stock had its "buy" rating reissued by investment analysts at Roth Mkm in a research report issued on Friday,Benzinga reports. They currently have a $92.00 price objective on the energy company's stock, up from their prior price objective of $87.00. Roth Mkm's target price would indicate a potential upside of 10.72% from the company's current price.

A number of other research firms have also recently issued reports on ORA. JPMorgan Chase & Co. raised their target price on Ormat Technologies from $69.00 to $75.00 and gave the company a "neutral" rating in a research note on Tuesday, July 16th. Oppenheimer increased 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. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Ormat Technologies presently has a consensus rating of "Moderate Buy" and a consensus target price of $84.50.

Ormat Technologies Stock Performance

ORA traded up $0.04 on Friday, hitting $83.09. 543,545 shares of the company's stock were exchanged, compared to its average volume of 404,361. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.72. The stock has a fifty day moving average of $76.79 and a two-hundred day moving average of $73.95. Ormat Technologies has a twelve month low of $58.73 and a twelve month high of $83.85. The firm has a market cap of $5.02 billion, a PE ratio of 42.39, a P/E/G ratio of 4.28 and a beta of 0.53.

Ormat Technologies (NYSE:ORA - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.03. Ormat Technologies had a return on equity of 5.29% and a net margin of 13.33%. The business had revenue of $212.96 million for the quarter, compared to analysts' expectations of $214.07 million. During the same period in the prior year, the firm earned $0.40 EPS. The business's quarterly revenue was up 9.3% on a year-over-year basis. On average, research analysts anticipate that Ormat Technologies will post 1.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Dafna Sharir sold 433 shares of the company's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $74.91, for a total value of $32,436.03. Following the transaction, the director now directly owns 3,561 shares of the company's stock, valued at approximately $266,754.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Byron G. Wong sold 1,266 shares of Ormat Technologies stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $74.98, for a total value of $94,924.68. Following the transaction, the director now owns 6,906 shares of the company's stock, valued at $517,811.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dafna Sharir sold 433 shares of Ormat Technologies stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $74.91, for a total transaction of $32,436.03. Following the completion of the transaction, the director now owns 3,561 shares in the company, valued at $266,754.51. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ormat Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. grew its stake in shares of Ormat Technologies by 180.3% in 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 during the period. Harrington Investments INC grew its position in 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 acquiring an additional 230 shares during the period. Arizona State Retirement System raised its stake in 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. lifted 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 valued at $47,000 after acquiring an additional 320 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Ormat Technologies by 44.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,051 shares of the energy company's stock valued at $81,000 after purchasing an additional 321 shares in the last quarter. 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.