Ormat Technologies (ORA) Projected to Post Earnings on Wednesday

Ormat Technologies (NYSE:ORA) is anticipated to release its earnings data 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. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Ormat Technologies Trading Down 0.8 %

Ormat Technologies stock opened at $68.74 on Monday. The stock has a market cap of $4.16 billion, a P/E ratio of 35.07, a PEG ratio of 3.18 and a beta of 0.57. Ormat Technologies has a fifty-two week low of $59.41 and a fifty-two week high of $84.30. The firm’s fifty day moving average price is $66.53 and its 200-day moving average price is $73.33. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95.

Analysts Set New Price Targets

Several brokerages recently issued reports on ORA. Piper Sandler began coverage on shares of Ormat Technologies in a research report on Thursday, December 19th. They issued a “neutral” rating and a $78.00 target price for the company. Jefferies Financial Group upgraded shares of Ormat Technologies from a “hold” rating to a “buy” rating and upped their target price for the stock from $73.00 to $78.00 in a research report on Thursday. Oppenheimer upped their price target on shares of Ormat Technologies from $86.00 to $91.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, Roth Mkm restated a “buy” rating and set a $92.00 price target (up from $87.00) on shares of Ormat Technologies in a research report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.88.

Insider Activity

In other news, major shareholder Corp Orix sold 3,700,000 shares of Ormat Technologies stock in a transaction on Friday, December 13th. The shares were sold at an average price of $75.38, for a total transaction of $278,906,000.00. Following the transaction, the insider now 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David Granot sold 1,256 shares of Ormat Technologies stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $82.00, for a total transaction of $102,992.00. Following the transaction, the director now owns 3,576 shares in the company, 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.

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.