Ormat Technologies (NYSE:ORA) Earns Buy Rating from Roth Mkm

Ormat Technologies (NYSE:ORA)‘s stock had its “buy” rating reiterated by analysts at Roth Mkm in a report released on Friday,Benzinga reports. They currently have a $92.00 price objective on the energy company’s stock, up from their previous price objective of $87.00. Roth Mkm’s target price suggests a potential upside of 10.67% from the stock’s previous close.

ORA has been the subject of a number of other reports. JPMorgan Chase & Co. boosted their price objective on shares of Ormat Technologies from $69.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Oppenheimer boosted their price target on Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a research note on Friday. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $84.50.

Ormat Technologies Price Performance

Shares of NYSE:ORA opened at $83.13 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.97 and a quick ratio of 0.89. The company has a market capitalization of $5.03 billion, a PE ratio of 42.41, a PEG ratio of 4.28 and a beta of 0.53. Ormat Technologies has a 1-year low of $58.73 and a 1-year high of $83.85. The business has a fifty day moving average price of $76.96 and a 200-day moving average price of $74.14.

Insider Buying and Selling

In other Ormat Technologies news, Director Byron G. Wong sold 1,266 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $74.98, for a total value of $94,924.68. Following the completion of the transaction, the director now directly owns 6,906 shares in the company, valued at $517,811.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Ormat Technologies news, Director Byron G. Wong sold 1,266 shares of Ormat Technologies stock in a transaction 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 sale, the director now directly owns 6,906 shares in the company, valued at approximately $517,811.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Dafna Sharir sold 433 shares of the business’s 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 sale, the director now owns 3,561 shares in the company, valued at approximately $266,754.51. The trade was 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 company insiders.

Hedge Funds Weigh In On Ormat Technologies

Institutional investors have recently added to or reduced their stakes in the company. Y.D. More Investments Ltd raised its holdings in shares of Ormat Technologies by 1,011.5% during the 2nd quarter. Y.D. More Investments Ltd now owns 493,619 shares of the energy company’s stock worth $34,943,000 after acquiring an additional 449,209 shares in the last quarter. Global Alpha Capital Management Ltd. raised its stake in Ormat Technologies by 6.1% during the third quarter. Global Alpha Capital Management Ltd. now owns 2,446,624 shares of the energy company’s stock valued at $188,125,000 after purchasing an additional 140,882 shares in the last quarter. Swedbank AB bought a new position in Ormat Technologies during the first quarter valued at $7,907,000. Dimensional Fund Advisors LP grew its stake in shares of Ormat Technologies by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,450,797 shares of the energy company’s stock worth $104,030,000 after buying an additional 86,291 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Ormat Technologies by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 5,388,571 shares of the energy company’s stock worth $356,670,000 after buying an additional 63,943 shares during the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.

About Ormat Technologies

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.