Ormat Technologies, Inc. (ORA) Given Consensus Recommendation of “Buy” by Analysts

Shares of Ormat Technologies, Inc. (NYSE:ORA) have received a consensus rating of “Buy” from the nine ratings firms that are covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $70.17.

Several research firms have recently issued reports on ORA. Zacks Investment Research lowered shares of Ormat Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, February 7th. Cowen reiterated a “buy” rating and issued a $75.00 target price on shares of Ormat Technologies in a research note on Wednesday, January 24th. TheStreet upgraded shares of Ormat Technologies from a “c+” rating to a “b-” rating in a research report on Monday, November 13th. Roth Capital set a $70.00 price target on shares of Ormat Technologies and gave the company a “buy” rating in a research report on Monday, November 13th. Finally, JPMorgan Chase & Co. increased their price target on shares of Ormat Technologies from $72.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, January 25th.

Ormat Technologies (ORA) traded up $0.25 during midday trading on Tuesday, hitting $64.97. 199,116 shares of the stock traded hands, compared to its average volume of 206,951. Ormat Technologies has a 12-month low of $54.75 and a 12-month high of $70.68. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.62 and a current ratio of 1.72. The company has a market cap of $3,287.29, a price-to-earnings ratio of 28.75, a price-to-earnings-growth ratio of 1.91 and a beta of 1.22.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada grew its position in Ormat Technologies by 1.7% during the second quarter. Royal Bank of Canada now owns 2,008 shares of the energy company’s stock valued at $117,000 after buying an additional 34 shares during the period. Advisor Group Inc. grew its position in Ormat Technologies by 153.2% during the second quarter. Advisor Group Inc. now owns 2,302 shares of the energy company’s stock valued at $135,000 after buying an additional 1,393 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Ormat Technologies by 43.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,614 shares of the energy company’s stock valued at $167,000 after buying an additional 791 shares during the period. Quantitative Systematic Strategies LLC bought a new position in Ormat Technologies during the fourth quarter valued at about $230,000. Finally, Great West Life Assurance Co. Can grew its position in Ormat Technologies by 42.3% during the third quarter. Great West Life Assurance Co. Can now owns 4,665 shares of the energy company’s stock valued at $295,000 after buying an additional 1,386 shares during the period. Institutional investors own 46.32% of the company’s stock.

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Ormat Technologies Company Profile

Ormat Technologies, Inc is engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy-based power plants. Its equipment manufacturing operations are located in Israel. It conducts its business activities in two business segments: Electricity segment and Product segment.

Analyst Recommendations for Ormat Technologies (NYSE:ORA)

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