Ormat Technologies (ORA) to Release Quarterly Earnings on Wednesday

Ormat Technologies (NYSE:ORA) is anticipated to announce its earnings results after the market closes on Wednesday, February 26th. Analysts expect the company to announce earnings of $0.46 per share and revenue of $235.51 million for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Ormat Technologies Stock Up 3.8 %

ORA opened at $65.53 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73. The firm has a 50 day moving average price of $66.98 and a 200-day moving average price of $73.44. Ormat Technologies has a twelve month low of $59.41 and a twelve month high of $84.30. The stock has a market capitalization of $3.96 billion, a price-to-earnings ratio of 33.43, a PEG ratio of 3.01 and a beta of 0.57.

Insider Transactions at Ormat Technologies

In other news, major shareholder Corp Orix sold 3,700,000 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $75.38, for a total value of $278,906,000.00. Following the completion of the sale, the insider now directly owns 2,976,077 shares of the company’s stock, valued at $224,336,684.26. This represents a 55.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David Granot sold 1,256 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $82.00, for a total transaction of $102,992.00. Following the completion of the sale, the director now directly owns 3,576 shares of the company’s stock, valued at approximately $293,232. This trade represents a 25.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

ORA has been the subject of a number of research reports. Roth Mkm reaffirmed a “buy” rating and set a $92.00 target price (up from $87.00) on shares of Ormat Technologies in a report on Friday, November 8th. Piper Sandler initiated coverage on shares of Ormat Technologies in a report on Thursday, December 19th. They set a “neutral” rating and a $78.00 target price for the company. Jefferies Financial Group initiated coverage on shares of Ormat Technologies in a report on Friday, January 10th. They set a “hold” rating and a $73.00 target price for the company. Finally, Oppenheimer upped their target price on shares of Ormat Technologies from $86.00 to $91.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $82.25.

Ormat Technologies Company Profile

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.