Shares of Ormat Technologies, Inc. (NYSE:ORA) have been assigned an average rating of “Buy” from the nine analysts that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $70.17.
A number of brokerages have recently weighed in on ORA. Zacks Investment Research lowered Ormat Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. JPMorgan Chase & Co. raised their target price on Ormat Technologies from $72.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. TheStreet raised Ormat Technologies from a “c+” rating to a “b-” rating in a report on Monday, November 13th. Roth Capital set a $70.00 target price on Ormat Technologies and gave the stock a “buy” rating in a report on Monday, November 13th. Finally, Cowen reaffirmed a “buy” rating and set a $75.00 target price on shares of Ormat Technologies in a report on Wednesday, January 24th.
Shares of Ormat Technologies (NYSE:ORA) traded down $0.40 during mid-day trading on Tuesday, hitting $64.63. The stock had a trading volume of 208,769 shares, compared to its average volume of 200,603. The company has a quick ratio of 1.62, a current ratio of 1.72 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $3,270.00, a price-to-earnings ratio of 27.74, a PEG ratio of 1.91 and a beta of 1.22. Ormat Technologies has a fifty-two week low of $54.75 and a fifty-two week high of $70.68.
Institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada grew its holdings in Ormat Technologies by 1.7% during the second quarter. Royal Bank of Canada now owns 2,008 shares of the energy company’s stock worth $117,000 after acquiring an additional 34 shares during the period. Advisor Group Inc. grew its holdings in Ormat Technologies by 153.2% during the second quarter. Advisor Group Inc. now owns 2,302 shares of the energy company’s stock worth $135,000 after acquiring an additional 1,393 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Ormat Technologies by 43.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,614 shares of the energy company’s stock worth $167,000 after acquiring an additional 791 shares during the period. Quantitative Systematic Strategies LLC acquired a new stake in Ormat Technologies during the fourth quarter worth about $230,000. Finally, Great West Life Assurance Co. Can grew its holdings in Ormat Technologies by 42.3% during the third quarter. Great West Life Assurance Co. Can now owns 4,665 shares of the energy company’s stock worth $295,000 after acquiring an additional 1,386 shares during the period. 68.53% of the stock is currently owned by hedge funds and other institutional investors.
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Ormat Technologies Company Profile
Ormat Technologies, Inc is engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy-based power plants. Its equipment manufacturing operations are located in Israel. It conducts its business activities in two business segments: Electricity segment and Product segment.
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