Ormat Technologies (NYSE:ORA) Given New $86.00 Price Target at Jefferies Financial Group

Ormat Technologies (NYSE:ORA) had its price target raised by Jefferies Financial Group from $78.00 to $86.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the energy company’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 21.07% from the company’s current price.

Several other brokerages also recently issued reports on ORA. Baird R W upgraded shares of Ormat Technologies to a “hold” rating in a research note on Thursday, March 13th. Robert W. Baird began coverage on Ormat Technologies in a research report on Thursday, March 13th. They issued a “neutral” rating and a $81.00 price objective for the company. Piper Sandler started coverage on Ormat Technologies in a research note on Thursday, December 19th. They set a “neutral” rating and a $78.00 target price for the company. Finally, JPMorgan Chase & Co. increased their price target on Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, February 28th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $83.56.

Ormat Technologies Stock Performance

ORA stock traded down $0.12 during trading hours on Tuesday, reaching $71.03. The stock had a trading volume of 96,827 shares, compared to its average volume of 470,692. The stock has a 50-day simple moving average of $67.32 and a 200 day simple moving average of $72.91. Ormat Technologies has a fifty-two week low of $59.41 and a fifty-two week high of $84.30. The stock has a market capitalization of $4.30 billion, a PE ratio of 36.25, a price-to-earnings-growth ratio of 3.18 and a beta of 0.51. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87.

Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, insider Jessica Woelfel sold 409 shares of Ormat Technologies stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total value of $29,509.35. Following the completion of the sale, the insider now owns 6,094 shares in the company, valued at $439,682.10. The trade was a 6.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Granot sold 1,666 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $69.00, for a total transaction of $114,954.00. Following the transaction, the director now directly owns 1,910 shares in the company, valued at $131,790. This represents a 46.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Ormat Technologies

Large investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. lifted its position in Ormat Technologies by 2.0% during the fourth quarter. Pacer Advisors Inc. now owns 8,026 shares of the energy company’s stock worth $544,000 after purchasing an additional 160 shares during the period. Bailard Inc. raised its position in Ormat Technologies by 0.9% during the fourth quarter. Bailard Inc. now owns 19,446 shares of the energy company’s stock valued at $1,317,000 after purchasing an additional 169 shares in the last quarter. Securian Asset Management Inc. lifted its position in shares of Ormat Technologies by 5.1% during the 4th quarter. Securian Asset Management Inc. now owns 4,354 shares of the energy company’s stock worth $295,000 after buying an additional 212 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of Ormat Technologies by 132.4% in the fourth quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock worth $27,000 after acquiring an additional 229 shares during the last quarter. Finally, Caprock Group LLC increased its position in Ormat Technologies by 4.0% during the 4th quarter. Caprock Group LLC now owns 6,080 shares of the energy company’s stock worth $412,000 after purchasing an additional 235 shares in the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

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.