Ormat Technologies (NYSE:ORA) Sets New 12-Month High – Should You Buy?

Shares of Ormat Technologies, Inc. (NYSE:ORA) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $129.59 and last traded at $128.2020, with a volume of 51669 shares trading hands. The stock had previously closed at $125.77.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. UBS Group reiterated a “buy” rating and issued a $148.00 price target on shares of Ormat Technologies in a research note on Wednesday. Piper Sandler boosted their target price on shares of Ormat Technologies from $102.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, December 18th. Jefferies Financial Group reiterated a “buy” rating and issued a $125.00 price target on shares of Ormat Technologies in a research note on Monday, November 24th. Roth Mkm set a $139.00 price objective on Ormat Technologies in a research note on Wednesday, January 28th. Finally, JPMorgan Chase & Co. lifted their target price on Ormat Technologies from $99.00 to $111.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.44.

Ormat Technologies Stock Performance

The company has a market capitalization of $7.37 billion, a P/E ratio of 55.36, a PEG ratio of 5.20 and a beta of 0.77. The company has a quick ratio of 0.70, a current ratio of 0.77 and a debt-to-equity ratio of 0.79. The stock has a fifty day simple moving average of $116.30 and a 200-day simple moving average of $104.67.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings data on Monday, November 3rd. The energy company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.04. Ormat Technologies had a net margin of 14.12% and a return on equity of 5.35%. The company had revenue of $249.73 million during the quarter, compared to analyst estimates of $235.03 million. During the same quarter last year, the business posted $0.36 earnings per share. The company’s revenue was up 17.9% on a year-over-year basis. Equities analysts forecast that Ormat Technologies, Inc. will post 1.94 EPS for the current year.

Insider Transactions at Ormat Technologies

In related news, Director Isaac Angel sold 18,018 shares of Ormat Technologies stock in a transaction on Friday, November 7th. The stock was sold at an average price of $112.42, for a total transaction of $2,025,583.56. Following the completion of the sale, the director directly owned 29,650 shares of the company’s stock, valued at $3,333,253. The trade was a 37.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ravit Barniv sold 1,753 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $112.54, for a total value of $197,282.62. The disclosure for this sale is available in the SEC filing. Insiders have sold 40,860 shares of company stock valued at $4,601,530 in the last three months. Company insiders own 0.56% of the company’s stock.

Hedge Funds Weigh In On Ormat Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. Curio Wealth LLC grew its stake in Ormat Technologies by 29,200.0% in the second quarter. Curio Wealth LLC now owns 293 shares of the energy company’s stock valued at $25,000 after acquiring an additional 292 shares during the period. Wolff Wiese Magana LLC acquired a new position in shares of Ormat Technologies during the 4th quarter worth about $33,000. 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 in the last quarter. Ameriflex Group Inc. increased its holdings in Ormat Technologies by 1,100.0% during the third quarter. Ameriflex Group Inc. now owns 360 shares of the energy company’s stock worth $35,000 after buying an additional 330 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Ormat Technologies by 251.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 523 shares of the energy company’s stock worth $44,000 after purchasing an additional 374 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

Ormat Technologies Company Profile

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.