Shares of Ormat Technologies Inc. (NYSE:ORA) reached a new 52-week high on Tuesday . The company traded as high as $45.53 and last traded at $45.38, with a volume of 47,527 shares traded. The stock had previously closed at $45.29.

ORA has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of Ormat Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, April 27th. JPMorgan Chase & Co. lowered shares of Ormat Technologies from an “overweight” rating to a “neutral” rating and set a $43.00 target price on the stock. in a research note on Friday, May 6th. They noted that the move was a valuation call. Finally, Roth Capital started coverage on shares of Ormat Technologies in a research note on Thursday. They set a “buy” rating and a $50.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Ormat Technologies has a consensus rating of “Hold” and an average target price of $43.25.

The firm has a market cap of $2.24 billion and a price-to-earnings ratio of 16.21. The stock has a 50-day moving average price of $43.74 and a 200 day moving average price of $40.76.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings data on Wednesday, May 4th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.24. The firm earned $151.60 million during the quarter, compared to analyst estimates of $136.66 million. The business’s revenue for the quarter was up 26.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.21 earnings per share. Equities research analysts predict that Ormat Technologies Inc. will post $1.90 EPS for the current year.

In related news, VP Shimon Hatzir sold 2,857 shares of the business’s stock in a transaction that occurred on Thursday, June 30th. The stock was sold at an average price of $43.50, for a total transaction of $124,279.50. Following the transaction, the vice president now directly owns 2,857 shares of the company’s stock, valued at approximately $124,279.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Nir Wolf sold 5,854 shares of the business’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $42.90, for a total value of $251,136.60. Following the transaction, the vice president now directly owns 5,854 shares in the company, valued at $251,136.60. The disclosure for this sale can be found here.

Several institutional investors have made changes to their positions in the stock. Nationwide Fund Advisors raised its position in shares of Ormat Technologies by 1.1% in the fourth quarter. Nationwide Fund Advisors now owns 38,881 shares of the company’s stock worth $1,418,000 after buying an additional 433 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of Ormat Technologies by 3.2% in the fourth quarter. New York State Common Retirement Fund now owns 35,100 shares of the company’s stock worth $1,280,000 after buying an additional 1,100 shares during the last quarter. California State Teachers Retirement System raised its position in shares of Ormat Technologies by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 68,978 shares of the company’s stock worth $2,516,000 after buying an additional 1,144 shares during the last quarter. Rhumbline Advisers raised its position in shares of Ormat Technologies by 3.5% in the fourth quarter. Rhumbline Advisers now owns 44,139 shares of the company’s stock worth $1,610,000 after buying an additional 1,485 shares during the last quarter. Finally, KBC Group NV raised its position in shares of Ormat Technologies by 4.2% in the fourth quarter. KBC Group NV now owns 56,299 shares of the company’s stock worth $2,053,000 after buying an additional 2,292 shares during the last quarter.

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. The Company’s equipment manufacturing operations are located in Israel. The Company conducts its business activities in two business segments: Electricity segment and Product segment.

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