Headlines about Ormat Technologies (NYSE:ORA) have been trending somewhat positive this week, Accern reports. The research group scores the sentiment of news coverage by analyzing more than 20 million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Ormat Technologies earned a coverage optimism score of 0.19 on Accern’s scale. Accern also gave news stories about the energy company an impact score of 45.9661189858703 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
Several equities research analysts recently issued reports on ORA shares. BidaskClub lowered shares of Ormat Technologies from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Cowen and Company set a $67.00 target price on shares of Ormat Technologies and gave the stock a “buy” rating in a report on Monday, July 17th. Zacks Investment Research raised shares of Ormat Technologies from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a report on Tuesday, August 8th. TheStreet lowered shares of Ormat Technologies from a “b” rating to a “c+” rating in a report on Monday, August 14th. Finally, Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $70.00 target price (up from $65.00) on shares of Ormat Technologies in a report on Wednesday, September 27th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $66.38.
Shares of Ormat Technologies (NYSE:ORA) opened at 65.51 on Friday. Ormat Technologies has a one year low of $45.30 and a one year high of $65.52. The firm’s 50-day moving average is $60.91 and its 200-day moving average is $58.89. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 29.89 and a beta of 1.22.
Ormat Technologies (NYSE:ORA) last announced its earnings results on Thursday, August 3rd. The energy company reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.03. The business had revenue of $179.36 million during the quarter, compared to the consensus estimate of $169.80 million. Ormat Technologies had a return on equity of 10.25% and a net margin of 15.36%. The business’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 EPS. Equities research analysts forecast that Ormat Technologies will post $2.41 EPS for the current year.
In other news, CEO Isaac Angel sold 250,000 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $57.00, for a total transaction of $14,250,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David Granot sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $57.66, for a total value of $144,150.00. Following the transaction, the director now directly owns 2,500 shares of the company’s stock, valued at $144,150. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 341,859 shares of company stock valued at $19,696,457. Corporate insiders own 14.74% of the company’s stock.
About Ormat Technologies
Ormat Technologies, Inc is engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy-based power plants. Its equipment manufacturing operations are located in Israel. It conducts its business activities in two business segments: Electricity segment and Product segment.
What are top analysts saying about Ormat Technologies Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Ormat Technologies Inc. and related companies.