Analysts Set Ormat Technologies, Inc. (NYSE:ORA) Target Price at $82.88

Shares of Ormat Technologies, Inc. (NYSE:ORA) have been assigned an average recommendation of “Hold” from the ten ratings firms that are presently covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $82.67.

A number of analysts have recently issued reports on ORA shares. Robert W. Baird started coverage on Ormat Technologies in a research report on Thursday, March 13th. They set a “neutral” rating and a $81.00 price objective on the stock. Jefferies Financial Group upgraded Ormat Technologies from a “hold” rating to a “buy” rating and boosted their price objective for the company from $73.00 to $78.00 in a research report on Thursday, February 20th. Piper Sandler started coverage on Ormat Technologies in a research report on Thursday, December 19th. They set a “neutral” rating and a $78.00 price objective on the stock. Baird R W upgraded Ormat Technologies to a “hold” rating in a research report on Thursday, March 13th. Finally, JPMorgan Chase & Co. boosted their price objective on Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, February 28th.

Insider Activity at Ormat Technologies

In other Ormat Technologies news, Director David Granot sold 1,666 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $69.00, for a total value of $114,954.00. Following the transaction, the director now owns 1,910 shares of the company’s stock, valued at approximately $131,790. The trade was a 46.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Ormat Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc lifted its stake 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 acquiring an additional 229 shares during the period. Stuart Chaussee & Associates Inc. acquired a new position in shares of Ormat Technologies during the fourth quarter valued at $34,000. AlphaQuest LLC lifted its stake in shares of Ormat Technologies by 4,691.7% during the fourth quarter. AlphaQuest LLC now owns 575 shares of the energy company’s stock valued at $39,000 after acquiring an additional 563 shares during the period. Headlands Technologies LLC acquired a new position in shares of Ormat Technologies during the fourth quarter valued at $66,000. Finally, Mendota Financial Group LLC acquired a new position in shares of Ormat Technologies during the fourth quarter valued at $98,000. Institutional investors and hedge funds own 95.49% of the company’s stock.

Ormat Technologies Stock Performance

Shares of NYSE ORA opened at $72.77 on Thursday. 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 business’s 50 day moving average is $66.93 and its two-hundred day moving average is $72.98. The company has a market cap of $4.40 billion, a P/E ratio of 37.13, a P/E/G ratio of 3.18 and a beta of 0.51. Ormat Technologies has a 12 month low of $59.41 and a 12 month high of $84.30.

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.66%. The ex-dividend date is Wednesday, March 12th. Ormat Technologies’s dividend payout ratio is 23.53%.

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.