Baird R W Upgrades Ormat Technologies (NYSE:ORA) to Hold

Ormat Technologies (NYSE:ORA) was upgraded by equities research analysts at Baird R W to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other analysts have also recently commented on the company. JPMorgan Chase & Co. lifted their price target on Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, February 28th. Jefferies Financial Group raised shares of Ormat Technologies from a “hold” rating to a “buy” rating and upped their price target for the stock from $73.00 to $78.00 in a research report on Thursday, February 20th. Piper Sandler assumed coverage on shares of Ormat Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $78.00 price target on the stock. Finally, Robert W. Baird assumed coverage on Ormat Technologies in a report on Thursday. They set a “neutral” rating and a $81.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Ormat Technologies presently has an average rating of “Hold” and an average price target of $82.67.

Ormat Technologies Trading Up 0.6 %

Shares of ORA opened at $71.92 on Thursday. Ormat Technologies has a fifty-two week low of $59.41 and a fifty-two week high of $84.30. The company has a market capitalization of $4.35 billion, a PE ratio of 36.69, a price-to-earnings-growth ratio of 3.18 and a beta of 0.51. The stock has a fifty day moving average of $66.79 and a two-hundred day moving average of $73.02. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95.

Insider Activity at Ormat Technologies

In related news, Director David Granot sold 1,666 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $69.00, for a total transaction of $114,954.00. Following the transaction, the director now directly owns 1,910 shares of the company’s stock, valued at approximately $131,790. The trade was a 46.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.00% of the stock is owned by insiders.

Institutional Trading of Ormat Technologies

A number of hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc boosted its stake in shares of Ormat Technologies by 132.4% in the fourth quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock valued at $27,000 after purchasing an additional 229 shares during the period. Stuart Chaussee & Associates Inc. acquired a new position in Ormat Technologies in the 4th quarter worth $34,000. AlphaQuest LLC boosted its position in Ormat Technologies by 4,691.7% in the 4th quarter. AlphaQuest LLC now owns 575 shares of the energy company’s stock valued at $39,000 after buying an additional 563 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Ormat Technologies during the fourth quarter valued at about $66,000. Finally, Mendota Financial Group LLC purchased a new stake in shares of Ormat Technologies during the fourth quarter worth about $98,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.

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.