Barclays Forecasts Strong Price Appreciation for Ormat Technologies (NYSE:ORA) Stock

Ormat Technologies (NYSE:ORA) had its price target boosted by Barclays from $89.00 to $118.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the energy company’s stock. Barclays‘s price target would suggest a potential upside of 4.10% from the stock’s current price.

Several other analysts have also recently issued reports on the company. Baird R W upgraded Ormat Technologies from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 30th. UBS Group upped their price target on Ormat Technologies from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of Ormat Technologies from $99.00 to $111.00 and gave the company a “neutral” rating in a report on Wednesday. TD Cowen boosted their target price on shares of Ormat Technologies from $95.00 to $100.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, Roth Capital reaffirmed a “buy” rating and set a $125.00 target price on shares of Ormat Technologies in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $115.44.

Ormat Technologies Stock Down 1.2%

Shares of ORA stock opened at $113.36 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.70 and a quick ratio of 0.64. Ormat Technologies has a one year low of $61.58 and a one year high of $115.72. The company’s fifty day moving average price is $100.51 and its 200-day moving average price is $88.70. The company has a market capitalization of $6.88 billion, a price-to-earnings ratio of 52.72, a PEG ratio of 4.84 and a beta of 0.77.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Monday, November 3rd. The energy company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. The business had revenue of $249.73 million during the quarter, compared to analyst estimates of $235.03 million. Ormat Technologies had a return on equity of 5.47% and a net margin of 14.49%.Ormat Technologies’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.36 EPS. Ormat Technologies has set its FY 2025 guidance at EPS. Sell-side analysts expect that Ormat Technologies will post 1.94 EPS for the current fiscal year.

Insider Transactions at Ormat Technologies

In other Ormat Technologies news, CFO Assi Ginzburg sold 9,343 shares of the business’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $93.31, for a total transaction of $871,795.33. Following the transaction, the chief financial officer owned 24,482 shares in the company, valued at $2,284,415.42. The trade was a 27.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Stanley Stern sold 876 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $91.98, for a total transaction of $80,574.48. Following the completion of the sale, the director owned 5,261 shares of the company’s stock, valued at $483,906.78. This trade represents a 14.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 40,926 shares of company stock worth $3,861,296 in the last quarter. Company insiders own 0.56% of the company’s stock.

Institutional Trading of Ormat Technologies

Several institutional investors have recently added to or reduced their stakes in ORA. Dimensional Fund Advisors LP boosted its position in shares of Ormat Technologies by 19.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,890,235 shares of the energy company’s stock valued at $133,770,000 after buying an additional 303,756 shares during the period. Geode Capital Management LLC lifted its position in shares of Ormat Technologies by 3.4% during the second quarter. Geode Capital Management LLC now owns 1,467,156 shares of the energy company’s stock worth $122,902,000 after purchasing an additional 48,038 shares during the last quarter. Van Berkom & Associates Inc. grew its holdings in shares of Ormat Technologies by 2.7% in the first quarter. Van Berkom & Associates Inc. now owns 1,280,026 shares of the energy company’s stock worth $90,587,000 after purchasing an additional 33,719 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in Ormat Technologies by 62.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,073,639 shares of the energy company’s stock valued at $89,928,000 after buying an additional 413,384 shares in the last quarter. Finally, Norges Bank bought a new position in Ormat Technologies in the 2nd quarter worth about $56,458,000. Institutional investors own 95.49% of the company’s stock.

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.