Ormat Technologies, Inc. (ORA) Receives $70.17 Average PT from Analysts

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.

COPYRIGHT VIOLATION NOTICE: This report was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this report on another site, it was illegally copied and reposted in violation of United States & international copyright & trademark legislation. The correct version of this report can be read at https://ledgergazette.com/2018/02/20/ormat-technologies-inc-ora-receives-70-17-average-pt-from-analysts.html.

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.

Analyst Recommendations for Ormat Technologies (NYSE:ORA)

Receive News & Ratings for Ormat Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ormat Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply