Ormat Technologies (NYSE:ORA) Upgraded at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Ormat Technologies (NYSE:ORA) from a hold rating to a buy rating in a research report released on Thursday, MarketBeat Ratings reports. Jefferies Financial Group currently has $78.00 price objective on the energy company’s stock, up from their prior price objective of $73.00.

Several other research analysts also recently commented on the company. Piper Sandler started coverage on Ormat Technologies in a research note on Thursday, December 19th. They set a “neutral” rating and a $78.00 target price for the company. Oppenheimer lifted their target price on shares of Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, Roth Mkm restated a “buy” rating and set a $92.00 price objective (up from $87.00) on shares of Ormat Technologies in a research report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $82.88.

Ormat Technologies Stock Down 0.8 %

ORA stock opened at $68.74 on Thursday. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73. The business has a 50 day moving average price of $66.53 and a two-hundred day moving average price of $73.33. Ormat Technologies has a twelve month low of $59.41 and a twelve month high of $84.30. The company has a market cap of $4.16 billion, a price-to-earnings ratio of 35.07, a P/E/G ratio of 3.18 and a beta of 0.57.

Insider Activity

In related news, major shareholder Corp Orix sold 3,700,000 shares of Ormat Technologies stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $75.38, for a total value of $278,906,000.00. Following the completion of the transaction, the insider now directly owns 2,976,077 shares in the company, valued at approximately $224,336,684.26. The trade was a 55.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Granot sold 1,256 shares of the 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 sale, the director now directly owns 3,576 shares in the company, valued at approximately $293,232. The trade was a 25.99 % 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.

Institutional Investors Weigh In On Ormat Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of ORA. Squarepoint Ops LLC bought a new position in Ormat Technologies in the fourth quarter valued at $3,042,000. Twinbeech Capital LP bought a new stake in Ormat Technologies in the fourth quarter worth $453,000. Stuart Chaussee & Associates Inc. bought a new position in shares of Ormat Technologies during the fourth quarter valued at about $34,000. Sherbrooke Park Advisers LLC purchased a new stake in Ormat Technologies during the 4th quarter valued at about $286,000. Finally, Raiffeisen Bank International AG purchased a new position in Ormat Technologies in the 4th quarter worth approximately $4,376,000. 95.49% of the stock is owned by hedge funds and other institutional investors.

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.