Ormat Technologies (ORA) Projected to Post Earnings on Wednesday

Ormat Technologies (NYSE:ORA) will likely be posting its quarterly earnings results after the market closes on Wednesday, February 26th. Analysts expect Ormat Technologies to post earnings of $0.46 per share and revenue of $235.34 million for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Ormat Technologies Price Performance

Shares of ORA opened at $68.58 on Tuesday. Ormat Technologies has a 12-month low of $59.41 and a 12-month high of $84.30. The business’s fifty day moving average is $66.44 and its 200 day moving average is $73.30. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73. The stock has a market cap of $4.15 billion, a P/E ratio of 34.99, a P/E/G ratio of 3.18 and a beta of 0.57.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ORA shares. Roth Mkm reissued a “buy” rating and issued a $92.00 price target (up from $87.00) on shares of Ormat Technologies in a research report on Friday, November 8th. Piper Sandler started coverage on Ormat Technologies in a research report on Thursday, December 19th. They set a “neutral” rating and a $78.00 price target for the company. Jefferies Financial Group raised Ormat Technologies from a “hold” rating to a “buy” rating and lifted their price target for the stock from $73.00 to $78.00 in a research note on Thursday, February 20th. Finally, Oppenheimer boosted their target price on Ormat Technologies from $86.00 to $91.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $82.88.

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.