Ormat Technologies (NYSE:ORA) Price Target Raised to $86.00 at Jefferies Financial Group

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

Other equities analysts have also issued research reports about the company. Robert W. Baird initiated coverage on Ormat Technologies in a research note on Thursday, March 13th. They issued a “neutral” rating and a $81.00 target price on the stock. JPMorgan Chase & Co. increased their price target on shares of Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, February 28th. Baird R W upgraded shares of Ormat Technologies to a “hold” rating in a report on Thursday, March 13th. Finally, Piper Sandler assumed coverage on shares of Ormat Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $78.00 target price on the stock. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Ormat Technologies currently has an average rating of “Hold” and a consensus target price of $83.56.

Ormat Technologies Trading Down 0.2 %

Shares of Ormat Technologies stock traded down $0.12 on Tuesday, hitting $71.03. 96,827 shares of the company’s stock traded hands, compared to its average volume of 470,692. Ormat Technologies has a one year low of $59.41 and a one 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 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 firm’s 50-day moving average price is $67.32 and its two-hundred day moving average price is $72.91.

Insider Transactions at Ormat Technologies

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

Hedge Funds Weigh In On Ormat Technologies

Large investors have recently bought and sold shares of the company. Pathstone Holdings LLC lifted its position in shares of Ormat Technologies by 2.4% in the third quarter. Pathstone Holdings LLC now owns 17,729 shares of the energy company’s stock worth $1,364,000 after purchasing an additional 422 shares in the last quarter. Advisors Asset Management Inc. increased its stake in Ormat Technologies by 10.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 11,227 shares of the energy company’s stock valued at $864,000 after buying an additional 1,070 shares during the last quarter. Intech Investment Management LLC bought a new stake in Ormat Technologies during the 3rd quarter worth about $895,000. Cerity Partners LLC boosted its stake in shares of Ormat Technologies by 62.5% during the 3rd quarter. Cerity Partners LLC now owns 5,496 shares of the energy company’s stock worth $423,000 after buying an additional 2,114 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Ormat Technologies by 2.6% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 182,939 shares of the energy company’s stock valued at $14,075,000 after acquiring an additional 4,722 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 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.