Ormat Technologies (NYSE:ORA) Price Target Cut to $75.00

Ormat Technologies (NYSE:ORAGet Free Report) had its price target lowered by analysts at Barclays from $82.00 to $75.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the energy company’s stock. Barclays‘s price target suggests a potential upside of 14.42% from the company’s current price.

A number of other research firms also recently issued reports on ORA. Oppenheimer dropped their price target on Ormat Technologies from $84.00 to $83.00 and set an “outperform” rating on the stock in a research report on Friday, January 19th. JPMorgan Chase & Co. dropped their price target on Ormat Technologies from $89.00 to $79.00 and set a “neutral” rating on the stock in a research report on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Ormat Technologies currently has an average rating of “Hold” and a consensus target price of $87.00.

View Our Latest Stock Analysis on ORA

Ormat Technologies Stock Performance

Shares of Ormat Technologies stock opened at $65.55 on Monday. The stock’s fifty day moving average is $70.75 and its two-hundred day moving average is $71.30. The company has a market capitalization of $3.96 billion, a PE ratio of 36.02, a price-to-earnings-growth ratio of 1.27 and a beta of 0.48. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.64. Ormat Technologies has a 52 week low of $58.73 and a 52 week high of $93.53.

Ormat Technologies (NYSE:ORAGet Free Report) last announced its quarterly earnings data on Wednesday, November 8th. The energy company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.36 by $0.11. The company had revenue of $208.06 million for the quarter, compared to the consensus estimate of $210.69 million. Ormat Technologies had a return on equity of 5.35% and a net margin of 13.45%. As a group, analysts expect that Ormat Technologies will post 2.07 earnings per share for the current year.

Institutional Investors Weigh In On Ormat Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Guinness Asset Management LTD raised its stake in Ormat Technologies by 5.7% in the third quarter. Guinness Asset Management LTD now owns 518,360 shares of the energy company’s stock valued at $36,234,000 after buying an additional 28,058 shares during the last quarter. Credit Suisse AG raised its stake in Ormat Technologies by 15.7% in the second quarter. Credit Suisse AG now owns 307,111 shares of the energy company’s stock valued at $24,710,000 after buying an additional 41,661 shares during the last quarter. Guinness Atkinson Asset Management Inc raised its stake in Ormat Technologies by 1.2% in the third quarter. Guinness Atkinson Asset Management Inc now owns 15,944 shares of the energy company’s stock valued at $1,115,000 after buying an additional 194 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Ormat Technologies by 7.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,398 shares of the energy company’s stock valued at $2,044,000 after buying an additional 1,756 shares during the last quarter. Finally, Bailard Inc. raised its stake in Ormat Technologies by 28.7% in the third quarter. Bailard Inc. now owns 20,889 shares of the energy company’s stock valued at $1,461,000 after buying an additional 4,659 shares during the last quarter. 88.24% of the stock is currently owned by hedge funds and other institutional investors.

About Ormat Technologies

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Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guadeloupe, Guatemala, Ethiopia, New Zealand, Honduras, and internationally. It operates through 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.

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