Ormat Technologies, Inc. (NYSE:ORA) Given Average Rating of “Hold” by Brokerages

Shares of Ormat Technologies, Inc. (NYSE:ORA) have received an average rating of “Hold” from the ten analysts that are covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $83.56.

ORA has been the subject of a number of recent research reports. Piper Sandler started 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 increased their price objective on shares of Ormat Technologies from $78.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, March 25th. Baird R W upgraded Ormat Technologies to a “hold” rating in a report on Thursday, March 13th. Robert W. Baird initiated coverage on Ormat Technologies in a research report on Thursday, March 13th. They issued a “neutral” rating and a $81.00 price target for the company. Finally, JPMorgan Chase & Co. lifted their price objective on Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, February 28th.

Insider Activity

In related news, Director David Granot sold 1,666 shares of Ormat Technologies stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $69.00, for a total value of $114,954.00. Following the completion of the sale, the director now owns 1,910 shares in the company, valued at approximately $131,790. This trade represents a 46.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jessica Woelfel sold 409 shares of the business’s 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 completion of the sale, the insider now owns 6,094 shares in the company, valued at $439,682.10. This represents a 6.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,242 shares of company stock valued at $156,427 in the last quarter. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ORA. Versant Capital Management Inc lifted its holdings in Ormat Technologies by 132.4% during the 4th quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock worth $27,000 after buying an additional 229 shares in the last quarter. Stuart Chaussee & Associates Inc. acquired a new stake in shares of Ormat Technologies in the fourth quarter valued at $34,000. AlphaQuest LLC raised its stake in shares of Ormat Technologies by 4,691.7% in the fourth quarter. AlphaQuest LLC now owns 575 shares of the energy company’s stock valued at $39,000 after acquiring an additional 563 shares in the last quarter. Headlands Technologies LLC purchased a new position in Ormat Technologies in the fourth quarter valued at $66,000. Finally, Mendota Financial Group LLC acquired a new position in Ormat Technologies during the 4th quarter worth $98,000. Institutional investors and hedge funds own 95.49% of the company’s stock.

Ormat Technologies Trading Down 3.6 %

Shares of ORA stock opened at $68.25 on Monday. Ormat Technologies has a fifty-two week low of $59.41 and a fifty-two week high of $84.30. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95. The stock’s fifty day moving average is $68.05 and its two-hundred day moving average is $72.67. The firm has a market capitalization of $4.14 billion, a P/E ratio of 34.82, a PEG ratio of 3.18 and a beta of 0.52.

Ormat Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th were given a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a yield of 0.70%. Ormat Technologies’s dividend payout ratio is currently 23.53%.

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.