TD Cowen Lowers Ormat Technologies (NYSE:ORA) Price Target to $125.00

Ormat Technologies (NYSE:ORAGet Free Report) had its target price decreased by analysts at TD Cowen from $131.00 to $125.00 in a research report issued to clients and investors on Friday, MarketBeat.com reports. The firm presently has a “buy” rating on the energy company’s stock. TD Cowen’s price objective points to a potential upside of 17.55% from the stock’s previous close.

Several other equities research analysts also recently weighed in on ORA. Citigroup increased their target price on shares of Ormat Technologies from $110.00 to $128.00 and gave the company a “neutral” rating in a research note on Wednesday, February 18th. Barclays reduced their price objective on shares of Ormat Technologies from $118.00 to $108.00 and set an “overweight” rating on the stock in a research report on Thursday, January 15th. Robert W. Baird dropped their target price on Ormat Technologies from $143.00 to $130.00 and set an “outperform” rating for the company in a research report on Friday. Roth Mkm set a $139.00 price target on Ormat Technologies in a report on Wednesday, January 28th. Finally, JPMorgan Chase & Co. boosted their price objective on Ormat Technologies from $99.00 to $111.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Ormat Technologies has an average rating of “Moderate Buy” and a consensus target price of $128.00.

View Our Latest Stock Analysis on ORA

Ormat Technologies Trading Down 9.2%

Shares of ORA stock opened at $106.34 on Friday. The company has a market cap of $6.46 billion, a PE ratio of 52.91, a price-to-earnings-growth ratio of 4.74 and a beta of 0.77. Ormat Technologies has a 1 year low of $64.39 and a 1 year high of $132.58. The stock’s 50 day simple moving average is $118.61 and its two-hundred day simple moving average is $107.98. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.77 and a quick ratio of 0.70.

Ormat Technologies (NYSE:ORAGet Free Report) last released its earnings results on Wednesday, February 25th. The energy company reported $0.67 earnings per share for the quarter, meeting the consensus estimate of $0.67. Ormat Technologies had a return on equity of 5.24% and a net margin of 12.52%.The firm had revenue of $276.04 million for the quarter, compared to the consensus estimate of $257.75 million. During the same quarter in the previous year, the company posted $0.67 EPS. The company’s revenue for the quarter was up 19.6% compared to the same quarter last year. Research analysts predict that Ormat Technologies will post 1.94 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd purchased a new position in Ormat Technologies during the fourth quarter valued at approximately $26,000. Los Angeles Capital Management LLC purchased a new stake in shares of Ormat Technologies during the 4th quarter worth $32,000. Wolff Wiese Magana LLC bought a new stake in Ormat Technologies during the fourth quarter valued at about $33,000. Smartleaf Asset Management LLC boosted its position in Ormat Technologies by 245.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 297 shares of the energy company’s stock valued at $33,000 after purchasing an additional 211 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its stake in Ormat Technologies by 43.8% in the third quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company’s stock valued at $35,000 after purchasing an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Key Stories Impacting Ormat Technologies

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About Ormat Technologies

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Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company’s core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.

Ormat’s offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.

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Analyst Recommendations for Ormat Technologies (NYSE:ORA)

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