Ormat Technologies (NYSE:ORA) Cut to Sell at StockNews.com

Ormat Technologies (NYSE:ORA – Get Rating) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

Other equities research analysts have also recently issued research reports about the company. UBS Group raised Ormat Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the company from $103.00 to $105.00 in a report on Wednesday, March 1st. Roth Mkm dropped their target price on Ormat Technologies from $104.00 to $93.00 and set a “neutral” rating on the stock in a report on Monday, February 27th. Oppenheimer dropped their target price on Ormat Technologies from $106.00 to $96.00 and set an “outperform” rating on the stock in a report on Friday, February 24th. Finally, Bank of America initiated coverage on Ormat Technologies in a report on Tuesday, November 22nd. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $92.83.

Ormat Technologies Stock Performance

ORA opened at $89.49 on Wednesday. The business’s 50 day moving average is $89.21 and its 200-day moving average is $90.21. The stock has a market cap of $5.02 billion, a PE ratio of 76.49, a price-to-earnings-growth ratio of 4.80 and a beta of 0.48. The company has a current ratio of 1.33, a quick ratio of 1.26 and a debt-to-equity ratio of 0.80. Ormat Technologies has a twelve month low of $67.28 and a twelve month high of $101.81.

Ormat Technologies (NYSE:ORA – Get Rating) last released its quarterly earnings results on Wednesday, February 22nd. The energy company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.25. The company had revenue of $205.50 million for the quarter, compared to analysts’ expectations of $199.33 million. Ormat Technologies had a return on equity of 4.60% and a net margin of 8.97%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 earnings per share. On average, analysts predict that Ormat Technologies will post 1.8 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ORA. IFP Advisors Inc increased its holdings in shares of Ormat Technologies by 30.0% in the third quarter. IFP Advisors Inc now owns 533 shares of the energy company’s stock valued at $27,000 after buying an additional 123 shares in the last quarter. Ruedi Wealth Management Inc. purchased a new position in Ormat Technologies during the 4th quarter worth approximately $28,000. Harvest Fund Management Co. Ltd purchased a new position in Ormat Technologies during the 4th quarter worth approximately $31,000. Belpointe Asset Management LLC purchased a new position in Ormat Technologies during the 4th quarter worth approximately $36,000. Finally, Wipfli Financial Advisors LLC purchased a new position in Ormat Technologies during the 3rd quarter worth approximately $37,000. Institutional investors own 81.74% of the company’s stock.

Ormat Technologies Company Profile

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Ormat Technologies, Inc operates as a holding company. The firm engages in the geothermal and recovered energy power businesses. It operates through the following segments: Electricity, Product and Energy Storage. The Electricity segment focuses on the sale of electricity from the company’s power plants pursuant to power purchase agreements.