Ormat Technologies, Inc. (NYSE:ORA) Given Average Rating of “Moderate Buy” by Analysts

Shares of Ormat Technologies, Inc. (NYSE:ORA) have earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $82.88.

A number of equities analysts recently issued reports on ORA shares. JPMorgan Chase & Co. upped their price target on shares of Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, February 28th. Piper Sandler initiated coverage on shares of Ormat Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $78.00 target price for the company. Finally, Jefferies Financial Group upgraded shares of Ormat Technologies from a “hold” rating to a “buy” rating and increased their price target for the company from $73.00 to $78.00 in a report on Thursday, February 20th.

Insiders Place Their Bets

In other news, Director David Granot sold 1,666 shares of Ormat Technologies stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $69.00, for a total transaction of $114,954.00. Following the transaction, the director now owns 1,910 shares in the company, valued at $131,790. This trade represents a 46.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Corp Orix sold 3,700,000 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $75.38, for a total transaction of $278,906,000.00. Following the sale, the insider now directly owns 2,976,077 shares of the company’s stock, valued at approximately $224,336,684.26. The trade was a 55.42 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Ormat Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its holdings in Ormat Technologies by 2.0% in the 4th quarter. Pacer Advisors Inc. now owns 8,026 shares of the energy company’s stock worth $544,000 after buying an additional 160 shares during the period. Bailard Inc. grew its holdings in Ormat Technologies by 0.9% during the 4th quarter. Bailard Inc. now owns 19,446 shares of the energy company’s stock valued at $1,317,000 after buying an additional 169 shares in the last quarter. Securian Asset Management Inc. grew its holdings in Ormat Technologies by 5.1% during the 4th quarter. Securian Asset Management Inc. now owns 4,354 shares of the energy company’s stock valued at $295,000 after buying an additional 212 shares in the last quarter. Versant Capital Management Inc raised its position in shares of Ormat Technologies by 132.4% during the fourth quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock valued at $27,000 after buying an additional 229 shares during the last quarter. Finally, Caprock Group LLC lifted its holdings in shares of Ormat Technologies by 4.0% in the fourth quarter. Caprock Group LLC now owns 6,080 shares of the energy company’s stock worth $412,000 after buying an additional 235 shares in the last quarter. Institutional investors own 95.49% of the company’s stock.

Ormat Technologies Stock Up 0.2 %

Shares of NYSE:ORA opened at $71.23 on Thursday. Ormat Technologies has a 12-month low of $59.41 and a 12-month high of $84.30. The stock has a market capitalization of $4.31 billion, a price-to-earnings ratio of 36.34, a PEG ratio of 3.18 and a beta of 0.51. The stock has a fifty day simple moving average of $66.67 and a two-hundred day simple moving average of $73.04. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73.

Ormat Technologies Announces Dividend

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

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.