Other analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Ormat Technologies from a hold rating to a buy rating and set a $77.00 price objective for the company in a research note on Saturday, January 27th. Roth Capital dropped their price objective on shares of Ormat Technologies from $70.00 to $67.00 and set a buy rating for the company in a research note on Friday, March 2nd. Cowen set a $67.00 price objective on shares of Ormat Technologies and gave the company a buy rating in a research note on Thursday, March 1st. Guggenheim started coverage on shares of Ormat Technologies in a research note on Monday, January 8th. They set a buy rating and a $72.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their price objective on shares of Ormat Technologies from $72.00 to $75.00 and gave the company an overweight rating in a research note on Thursday, January 25th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $68.57.
Shares of Ormat Technologies (ORA) traded down $0.14 during midday trading on Friday, reaching $54.22. 454,268 shares of the company traded hands, compared to its average volume of 323,599. Ormat Technologies has a one year low of $53.45 and a one year high of $70.68. The stock has a market cap of $2,750.46, a PE ratio of 23.27, a PEG ratio of 1.70 and a beta of 1.29. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.62 and a current ratio of 1.72.
Institutional investors have recently bought and sold shares of the company. Royal Bank of Canada grew its stake in shares of Ormat Technologies by 1.7% in the 2nd quarter. Royal Bank of Canada now owns 2,008 shares of the energy company’s stock valued at $117,000 after buying an additional 34 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Ormat Technologies by 43.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,614 shares of the energy company’s stock valued at $167,000 after buying an additional 791 shares during the period. Advisor Group Inc. grew its stake in shares of Ormat Technologies by 39.1% in the 3rd quarter. Advisor Group Inc. now owns 3,201 shares of the energy company’s stock valued at $196,000 after buying an additional 899 shares during the period. Quantitative Systematic Strategies LLC purchased a new stake in shares of Ormat Technologies in the 4th quarter valued at approximately $230,000. Finally, Xact Kapitalforvaltning AB purchased a new stake in shares of Ormat Technologies in the 4th quarter valued at approximately $265,000. 70.59% of the stock is owned by institutional investors and hedge funds.
TRADEMARK VIOLATION NOTICE: “Ormat Technologies (ORA) Now Covered by Analysts at UBS” was originally posted by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this article on another publication, it was illegally stolen and republished in violation of United States and international copyright and trademark legislation. The correct version of this article can be read at https://stocknewstimes.com/2018/03/17/ormat-technologies-ora-now-covered-by-analysts-at-ubs.html.
About Ormat Technologies
Ormat Technologies, Inc is engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy-based power plants. Its equipment manufacturing operations are located in Israel. It conducts its business activities in two business segments: Electricity segment and Product segment.
Receive News & Ratings for Ormat Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ormat Technologies and related companies with MarketBeat.com's FREE daily email newsletter.