Brokerages Set Ormat Technologies, Inc. (NYSE:ORA) Price Target at $83.56

Shares of Ormat Technologies, Inc. (NYSE:ORA) have received a consensus rating of “Hold” from the ten ratings firms that are presently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $83.56.

A number of equities analysts have weighed in on ORA shares. Baird R W upgraded shares of Ormat Technologies to a “hold” rating in a report on Thursday, March 13th. Piper Sandler assumed coverage on Ormat Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $78.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, February 28th. Robert W. Baird began coverage on Ormat Technologies in a report on Thursday, March 13th. They issued a “neutral” rating and a $81.00 price objective on the stock. Finally, StockNews.com upgraded Ormat Technologies from a “sell” rating to a “hold” rating in a report on Monday, April 7th.

Ormat Technologies Trading Up 2.1 %

Shares of ORA stock opened at $69.96 on Monday. Ormat Technologies has a 1-year low of $59.41 and a 1-year high of $84.30. The firm’s 50-day simple moving average is $68.74 and its 200-day simple moving average is $72.32. The firm has a market cap of $4.24 billion, a P/E ratio of 35.69, a PEG ratio of 3.18 and a beta of 0.52. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87.

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.69%. The ex-dividend date was Wednesday, March 12th. Ormat Technologies’s dividend payout ratio (DPR) is presently 23.53%.

Insiders Place Their Bets

In related news, Director David Granot sold 1,666 shares of Ormat Technologies stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $69.00, for a total transaction of $114,954.00. Following the sale, the director now owns 1,910 shares of the company’s stock, valued at $131,790. The trade was a 46.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jessica Woelfel sold 409 shares of the company’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total transaction of $29,509.35. Following the completion of the transaction, the insider now directly owns 6,094 shares of the company’s stock, valued at approximately $439,682.10. The trade was a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,242 shares of company stock worth $156,427 in the last 90 days. 1.00% of the stock is owned by company insiders.

Institutional Trading of Ormat Technologies

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

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.