Ormat Technologies (ORA) Projected to Post Quarterly Earnings on Wednesday

Ormat Technologies (NYSE:ORA - Get Free Report) is anticipated to post its quarterly earnings results after the market closes on Wednesday, February 26th. Analysts expect Ormat Technologies to post earnings of $0.46 per share and revenue of $235.34 million for the quarter. Individual that wish to listen to the company's earnings conference call can do so using this link.

Ormat Technologies Stock Down 0.8 %

NYSE ORA traded down $0.56 during trading on Friday, reaching $68.74. 518,383 shares of the company's stock were exchanged, compared to its average volume of 535,517. Ormat Technologies has a fifty-two week low of $59.41 and a fifty-two week high of $84.30. The company's fifty day simple moving average is $66.60 and its 200-day simple moving average is $73.36. 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 has a market capitalization of $4.16 billion, a PE ratio of 35.07, a P/E/G ratio of 3.09 and a beta of 0.57.

Analyst Upgrades and Downgrades

ORA has been the topic of a number of recent analyst reports. Oppenheimer raised their price objective on Ormat Technologies from $86.00 to $91.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Piper Sandler initiated coverage on Ormat Technologies in a report on Thursday, December 19th. They set a "neutral" rating and a $78.00 price objective on the stock. Roth Mkm reaffirmed a "buy" rating and issued a $92.00 price target (up previously from $87.00) on shares of Ormat Technologies in a research note on Friday, November 8th. Finally, Jefferies Financial Group upgraded Ormat Technologies from a "hold" rating to a "buy" rating and lifted their price objective for the company from $73.00 to $78.00 in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $82.88.

Insider Activity at Ormat Technologies

In other news, Director David Granot sold 1,256 shares of the company's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $82.00, for a total transaction of $102,992.00. Following the completion of the transaction, the director now directly owns 3,576 shares of the company's stock, valued at $293,232. This represents a 25.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Corp Orix sold 3,700,000 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $224,336,684.26. This represents a 55.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

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.