Oppenheimer Increases Ormat Technologies (NYSE:ORA) Price Target to $91.00

Ormat Technologies (NYSE:ORA) had its target price increased by investment analysts at Oppenheimer from $86.00 to $91.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the energy company’s stock. Oppenheimer’s price target suggests a potential upside of 9.47% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Ormat Technologies from $69.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Roth Mkm reiterated a “buy” rating and set a $80.00 price target on shares of Ormat Technologies in a research note on Monday, August 12th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $84.50.

Ormat Technologies Trading Up 0.1 %

NYSE:ORA opened at $83.13 on Friday. Ormat Technologies has a 12-month low of $58.73 and a 12-month high of $83.85. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.72. The stock’s 50 day simple moving average is $76.96 and its 200-day simple moving average is $74.14. The firm has a market cap of $5.03 billion, a P/E ratio of 42.41, a PEG ratio of 4.28 and a beta of 0.53.

Insider Transactions at Ormat Technologies

In other Ormat Technologies news, Director Byron G. Wong sold 1,266 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $74.98, for a total transaction of $94,924.68. Following the transaction, the director now directly owns 6,906 shares in the company, valued at approximately $517,811.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Dafna Sharir sold 433 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $74.91, for a total value of $32,436.03. Following the completion of the transaction, the director now owns 3,561 shares in the company, valued at $266,754.51. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Byron G. Wong sold 1,266 shares of Ormat Technologies stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.98, for a total value of $94,924.68. Following the transaction, the director now directly owns 6,906 shares of the company’s stock, valued at $517,811.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Ormat Technologies

Several hedge funds have recently added to or reduced their stakes in the business. Texas Permanent School Fund Corp lifted its holdings in shares of Ormat Technologies by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 46,945 shares of the energy company’s stock valued at $3,107,000 after purchasing an additional 601 shares in the last quarter. Quantbot Technologies LP raised its position in shares of Ormat Technologies by 23.2% during the 1st quarter. Quantbot Technologies LP now owns 31,538 shares of the energy company’s stock worth $2,088,000 after purchasing an additional 5,933 shares during the last quarter. Swiss National Bank lifted its stake in Ormat Technologies by 0.4% in the 1st quarter. Swiss National Bank now owns 107,234 shares of the energy company’s stock valued at $7,098,000 after buying an additional 400 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Ormat Technologies during the 1st quarter valued at $2,075,000. Finally, Sei Investments Co. increased its position in Ormat Technologies by 10.4% during the first quarter. Sei Investments Co. now owns 17,197 shares of the energy company’s stock worth $1,138,000 after buying an additional 1,615 shares in the last quarter. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

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.