Jefferies Financial Group Issues Positive Forecast for Ormat Technologies (NYSE:ORA) Stock Price

Ormat Technologies (NYSE:ORA) had its target price hoisted by Jefferies Financial Group from $78.00 to $86.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the energy company’s stock.

A number of other analysts have also issued reports on ORA. Piper Sandler started coverage on shares of Ormat Technologies in a report on Thursday, December 19th. They set a “neutral” rating and a $78.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, February 28th. Robert W. Baird assumed coverage on shares of Ormat Technologies in a research report on Thursday, March 13th. They set a “neutral” rating and a $81.00 price target on the stock. Finally, Baird R W raised Ormat Technologies to a “hold” rating in a research note on Thursday, March 13th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $83.56.

Ormat Technologies Trading Up 0.1 %

ORA opened at $71.24 on Tuesday. The firm has a market capitalization of $4.31 billion, a PE ratio of 36.35, a P/E/G ratio of 3.18 and a beta of 0.51. The company’s 50-day moving average is $67.42 and its 200 day moving average is $72.90. Ormat Technologies has a fifty-two week low of $59.41 and a fifty-two week high of $84.30. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87.

Ormat Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.12 per share. The ex-dividend date is Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a yield of 0.67%. Ormat Technologies’s dividend payout ratio is presently 23.53%.

Insider Buying and Selling at Ormat Technologies

In related news, Director David Granot sold 1,666 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $69.00, for a total transaction of $114,954.00. Following the completion of the sale, the director now owns 1,910 shares in the company, valued at approximately $131,790. This trade represents a 46.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jessica Woelfel sold 409 shares of the business’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $72.15, for a total transaction of $29,509.35. Following the completion of the transaction, the insider now directly owns 6,094 shares in the company, valued at $439,682.10. This trade represents a 6.29 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,242 shares of company stock valued at $156,427. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Ormat Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jefferies Financial Group Inc. bought a new stake in shares of Ormat Technologies during the 4th quarter worth approximately $372,000. Polar Asset Management Partners Inc. purchased a new position in Ormat Technologies in the 4th quarter worth about $5,079,000. Squarepoint Ops LLC bought a new stake in Ormat Technologies during the 4th quarter valued at about $3,042,000. Twinbeech Capital LP bought a new position in Ormat Technologies in the 4th quarter worth about $453,000. Finally, Stuart Chaussee & Associates Inc. purchased a new position in shares of Ormat Technologies during the fourth quarter worth approximately $34,000. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

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.