Barclays Issues Positive Forecast for Ormat Technologies (NYSE:ORA) Stock Price

Ormat Technologies (NYSE:ORA) had its price target lifted by Barclays from $89.00 to $118.00 in a research note released on Friday,Benzinga reports. They currently have an overweight rating on the energy company’s stock.

A number of other equities research analysts also recently commented on ORA. Robert W. Baird upgraded Ormat Technologies from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $87.00 to $103.00 in a report on Wednesday, July 30th. UBS Group boosted their target price on Ormat Technologies from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Oppenheimer reiterated an “outperform” rating and issued a $125.00 price target on shares of Ormat Technologies in a research report on Wednesday. Weiss Ratings reissued a “hold (c)” rating on shares of Ormat Technologies in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group upped their target price on shares of Ormat Technologies from $97.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $115.44.

Ormat Technologies Trading Down 1.2%

ORA stock traded down $1.39 during midday trading on Friday, reaching $113.36. The company’s stock had a trading volume of 729,812 shares, compared to its average volume of 530,558. Ormat Technologies has a 52 week low of $61.58 and a 52 week high of $115.72. The stock has a market cap of $6.88 billion, a PE ratio of 52.72, a price-to-earnings-growth ratio of 4.84 and a beta of 0.77. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.77. The business’s 50-day simple moving average is $100.51 and its 200-day simple moving average is $88.59.

Ormat Technologies (NYSE:ORA) last issued its earnings results on Monday, November 3rd. The energy company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.37 by $0.04. The company had revenue of $249.73 million during the quarter, compared to analysts’ expectations of $235.03 million. Ormat Technologies had a net margin of 14.49% and a return on equity of 5.47%. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS. Ormat Technologies has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Ormat Technologies will post 1.94 EPS for the current year.

Ormat Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. Ormat Technologies’s dividend payout ratio is presently 22.02%.

Insider Activity

In other Ormat Technologies news, insider Jessica Woelfel sold 5,611 shares of Ormat Technologies stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $94.80, for a total value of $531,922.80. Following the sale, the insider owned 3,433 shares of the company’s stock, valued at $325,448.40. This trade represents a 62.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Assi Ginzburg sold 9,343 shares of the business’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $93.31, for a total value of $871,795.33. Following the completion of the sale, the chief financial officer owned 24,482 shares in the company, valued at approximately $2,284,415.42. This trade represents a 27.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 40,926 shares of company stock worth $3,861,296. 0.56% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ormat Technologies

Hedge funds have recently made changes to their positions in the business. Jones Financial Companies Lllp boosted its position in Ormat Technologies by 43.8% in the third quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company’s stock valued at $35,000 after buying an additional 113 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Ormat Technologies by 9.8% during the second quarter. PNC Financial Services Group Inc. now owns 1,609 shares of the energy company’s stock worth $135,000 after buying an additional 144 shares in the last quarter. Creative Planning lifted its stake in shares of Ormat Technologies by 1.2% in the 2nd quarter. Creative Planning now owns 13,526 shares of the energy company’s stock valued at $1,133,000 after acquiring an additional 159 shares during the last quarter. CWM LLC boosted its holdings in shares of Ormat Technologies by 17.1% during the 3rd quarter. CWM LLC now owns 1,098 shares of the energy company’s stock valued at $106,000 after acquiring an additional 160 shares in the last quarter. Finally, UMB Bank n.a. grew its position in Ormat Technologies by 20.3% during the 2nd quarter. UMB Bank n.a. now owns 1,059 shares of the energy company’s stock worth $89,000 after acquiring an additional 179 shares during the last quarter. 95.49% of the stock is owned by institutional investors.

About Ormat Technologies

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, Guadeloupe, New Zealand, Honduras, and internationally. It operates in three segments: Electricity, Product, and Energy Storage. The Electricity segment develops, builds, owns, and operates geothermal, solar photovoltaic, and recovered energy-based power plants; and sells electricity.