Guggenheim initiated coverage on shares of Ormat Technologies (NYSE:ORA) in a research report report published on Monday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $72.00 target price on the energy company’s stock.

Several other equities research analysts also recently weighed in on ORA. Oppenheimer reaffirmed a buy rating and set a $70.00 target price (up from $65.00) on shares of Ormat Technologies in a research note on Wednesday, September 27th. Zacks Investment Research raised shares of Ormat Technologies from a hold rating to a buy rating and set a $68.00 target price on the stock in a research note on Thursday, October 5th. Roth Capital set a $70.00 target price on shares of Ormat Technologies and gave the stock a buy rating in a research note on Monday, November 13th. Finally, TheStreet raised shares of Ormat Technologies from a c+ rating to a b- rating in a research note on Monday, November 13th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $68.88.

Shares of Ormat Technologies (ORA) traded up $0.35 on Monday, reaching $65.60. 255,240 shares of the company traded hands, compared to its average volume of 166,685. Ormat Technologies has a 1 year low of $51.44 and a 1 year high of $66.46. The stock has a market cap of $3,320.00, a P/E ratio of 28.15, a P/E/G ratio of 1.94 and a beta of 1.23. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.62 and a current ratio of 1.72.

Ormat Technologies (NYSE:ORA) last announced its earnings results on Tuesday, November 7th. The energy company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.06). Ormat Technologies had a return on equity of 9.41% and a net margin of 16.99%. The business had revenue of $157.20 million for the quarter, compared to analysts’ expectations of $159.02 million. During the same period in the previous year, the company earned $0.56 earnings per share. Ormat Technologies’s quarterly revenue was down 14.8% on a year-over-year basis. research analysts predict that Ormat Technologies will post 2.21 earnings per share for the current year.

Large investors have recently made changes to their positions in the business. Royal Bank of Canada increased its position 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 purchasing an additional 34 shares during the last quarter. Sei Investments Co. increased its position in shares of Ormat Technologies by 2.2% in the 2nd quarter. Sei Investments Co. now owns 2,266 shares of the energy company’s stock valued at $133,000 after purchasing an additional 49 shares during the last quarter. Advisor Group Inc. increased its position in shares of Ormat Technologies by 153.2% in the 2nd quarter. Advisor Group Inc. now owns 2,302 shares of the energy company’s stock valued at $135,000 after purchasing an additional 1,393 shares during the last quarter. Psagot Investment House Ltd. increased its position in shares of Ormat Technologies by 1.6% in the 2nd quarter. Psagot Investment House Ltd. now owns 2,661 shares of the energy company’s stock valued at $156,000 after purchasing an additional 43 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Ormat Technologies by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,964 shares of the energy company’s stock valued at $233,000 after purchasing an additional 595 shares during the last quarter. 46.34% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Ormat Technologies (NYSE:ORA)

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