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.
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
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.
- Get a free copy of the StockNews.com research report on Ormat Technologies (ORA)
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