Wall Street Zen Upgrades Ormat Technologies (NYSE:ORA) to Sell

Ormat Technologies (NYSE:ORA) was upgraded by equities researchers at Wall Street Zen from a “strong sell” rating to a “sell” rating in a report issued on Sunday, Wall Street Zen reports.

Several other brokerages have also weighed in on ORA. Oppenheimer increased their price objective on Ormat Technologies from $141.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, September 9th. Royal Bank Of Canada restated an “outperform” rating and issued a $130.00 target price on shares of Ormat Technologies in a research note on Wednesday, September 9th. Sanford C. Bernstein upgraded Ormat Technologies from an “underperform” rating to a “market perform” rating and set a $112.00 target price on the stock in a research note on Friday, September 4th. Barclays dropped their price target on Ormat Technologies from $127.00 to $122.00 and set an “overweight” rating on the stock in a research report on Monday, August 10th. Finally, TD Cowen upgraded Ormat Technologies to a “strong-buy” rating in a research note on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $130.75.

Ormat Technologies Stock Up 3.1%

ORA opened at $91.71 on Friday. Ormat Technologies has a twelve month low of $87.06 and a twelve month high of $146.39. The company’s 50-day moving average price is $100.55 and its two-hundred day moving average price is $112.26. The stock has a market cap of $5.64 billion, a price-to-earnings ratio of 45.18, a PEG ratio of 3.38 and a beta of 0.90. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 0.87.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Wednesday, August 5th. The energy company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.24. The company had revenue of $258.76 million during the quarter, compared to analyst estimates of $240.03 million. Ormat Technologies had a net margin of 10.66% and a return on equity of 6.61%. Ormat Technologies’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.48 EPS. As a group, equities analysts expect that Ormat Technologies will post 2.63 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ORA. GAMMA Investing LLC boosted its stake in Ormat Technologies by 14.9% during the third quarter. GAMMA Investing LLC now owns 1,623 shares of the energy company’s stock valued at $148,000 after buying an additional 210 shares during the period. Green Alpha Advisors LLC grew its position in Ormat Technologies by 16.3% during the third quarter. Green Alpha Advisors LLC now owns 7,050 shares of the energy company’s stock worth $645,000 after buying an additional 987 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Ormat Technologies by 57.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,232 shares of the energy company’s stock worth $113,000 after acquiring an additional 449 shares during the last quarter. Versant Capital Management Inc increased its stake in Ormat Technologies by 73.4% in the 3rd quarter. Versant Capital Management Inc now owns 579 shares of the energy company’s stock worth $53,000 after acquiring an additional 245 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new position in Ormat Technologies in the 2nd quarter worth about $697,000. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

Ormat Technologies Company Profile

Ormat Technologies, Inc is a renewable energy company that develops, owns, and operates clean energy assets. The company’s primary business is geothermal power, using heat from the earth to generate electricity. It also provides recovered energy solutions that convert waste heat from industrial processes into power.

Ormat’s portfolio includes geothermal, recovered energy, solar photovoltaic, and energy storage projects. In addition to owning and operating power plants, the company designs and manufactures equipment for geothermal and recovered energy applications and provides related engineering, construction, and operation services.

Founded in 1965, Ormat serves customers and markets in the United States and internationally.