Ormat Technologies (NYSE:ORA) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Ormat Technologies (NYSE:ORA) from a sell rating to a hold rating in a research report released on Monday.

Several other research firms have also recently commented on ORA. JPMorgan Chase & Co. upped their target price on shares of Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, February 28th. Baird R W upgraded Ormat Technologies to a “hold” rating in a research report on Thursday, March 13th. Jefferies Financial Group boosted their price target on Ormat Technologies from $78.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, March 25th. Piper Sandler started coverage on Ormat Technologies in a report on Thursday, December 19th. They set a “neutral” rating and a $78.00 price target on the stock. Finally, Robert W. Baird began coverage on shares of Ormat Technologies in a report on Thursday, March 13th. They issued a “neutral” rating and a $81.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Ormat Technologies presently has a consensus rating of “Hold” and an average price target of $83.56.

Ormat Technologies Stock Performance

Shares of ORA opened at $68.24 on Monday. The firm has a fifty day moving average of $68.12 and a 200-day moving average of $72.62. The company has a market cap of $4.14 billion, a price-to-earnings ratio of 34.82, a price-to-earnings-growth ratio of 3.18 and a beta of 0.52. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95. Ormat Technologies has a 1 year low of $59.41 and a 1 year high of $84.30.

Ormat Technologies Announces Dividend

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

Insider Activity at Ormat Technologies

In other news, insider Jessica Woelfel sold 409 shares of the business’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $72.15, for a total transaction of $29,509.35. Following the sale, the insider now directly owns 6,094 shares of the company’s stock, valued at $439,682.10. The trade was a 6.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David Granot sold 1,666 shares of the stock in a transaction 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 transaction, the director now owns 1,910 shares of the company’s stock, valued at $131,790. This trade represents a 46.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,242 shares of company stock valued at $156,427 over the last ninety days. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Ormat Technologies

A number of large investors have recently made changes to their positions in the company. Pacer Advisors Inc. grew its position in Ormat Technologies by 2.0% during the 4th quarter. Pacer Advisors Inc. now owns 8,026 shares of the energy company’s stock worth $544,000 after purchasing an additional 160 shares in the last quarter. Bailard Inc. grew its holdings in shares of Ormat Technologies by 0.9% during the fourth quarter. Bailard Inc. now owns 19,446 shares of the energy company’s stock valued at $1,317,000 after buying an additional 169 shares in the last quarter. Securian Asset Management Inc. grew its holdings in shares of Ormat Technologies by 5.1% during the fourth quarter. Securian Asset Management Inc. now owns 4,354 shares of the energy company’s stock valued at $295,000 after buying an additional 212 shares in the last quarter. Versant Capital Management Inc raised its position in Ormat Technologies by 132.4% during the fourth quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock valued at $27,000 after buying an additional 229 shares during the period. Finally, Caprock Group LLC lifted its stake in Ormat Technologies by 4.0% in the 4th quarter. Caprock Group LLC now owns 6,080 shares of the energy company’s stock worth $412,000 after acquiring an additional 235 shares in the last quarter. Institutional investors and hedge funds 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.