Ormat Technologies (ORA) Projected to Post Earnings on Wednesday

Ormat Technologies (NYSE:ORA) is projected to issue its quarterly earnings data after the market closes on Wednesday, February 26th. Analysts expect the company to announce earnings of $0.46 per share and revenue of $235.34 million for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Ormat Technologies Stock Down 0.3 %

Ormat Technologies stock opened at $68.58 on Tuesday. Ormat Technologies has a 1-year low of $59.41 and a 1-year high of $84.30. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87. The stock has a market cap of $4.15 billion, a PE ratio of 34.99, a P/E/G ratio of 3.18 and a beta of 0.57. The stock’s fifty day moving average is $66.44 and its two-hundred day moving average is $73.30.

Insider Buying and Selling at Ormat Technologies

In related news, Director David Granot sold 1,256 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $82.00, for a total value of $102,992.00. Following the completion of the sale, the director now owns 3,576 shares in the company, valued at approximately $293,232. This represents a 25.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Corp Orix sold 3,700,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $75.38, for a total transaction of $278,906,000.00. Following the completion of the sale, the insider now owns 2,976,077 shares of the company’s stock, valued at approximately $224,336,684.26. This trade represents a 55.42 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Analyst Ratings Changes

ORA has been the topic of a number of research analyst reports. Oppenheimer lifted their target price on Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Roth Mkm reiterated a “buy” rating and issued a $92.00 price target (up from $87.00) on shares of Ormat Technologies in a report on Friday, November 8th. Piper Sandler initiated coverage on shares of Ormat Technologies in a research report on Thursday, December 19th. They set a “neutral” rating and a $78.00 price target for the company. Finally, Jefferies Financial Group raised shares of Ormat Technologies from a “hold” rating to a “buy” rating and upped their price objective for the company from $73.00 to $78.00 in a research report on Thursday, February 20th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $82.88.

Ormat Technologies Company Profile

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.