Somewhat Positive News Coverage Somewhat Unlikely to Affect Ormat Technologies (ORA) Share Price
Media stories about Ormat Technologies (NYSE:ORA) have trended somewhat positive this week, Accern Sentiment reports. The research firm identifies negative and positive news coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of 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 assigned media stories about the energy company an impact score of 45.9258585607501 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
A number of analysts have weighed in on the company. BidaskClub lowered Ormat Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Zacks Investment Research upgraded Ormat Technologies from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Tuesday, August 8th. Cowen and Company set a $67.00 price objective on Ormat Technologies and gave the stock a “buy” rating in a research note on Monday, July 17th. TheStreet lowered Ormat Technologies from a “b” rating to a “c+” rating in a research note on Monday, August 14th. Finally, Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $70.00 price objective (up from $65.00) on shares of Ormat Technologies in a research note on Wednesday, September 27th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Ormat Technologies currently has an average rating of “Buy” and a consensus price target of $66.38.
Ormat Technologies (ORA) opened at 61.97 on Wednesday. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of 28.27 and a beta of 1.22. The stock has a 50 day moving average price of $58.35 and a 200-day moving average price of $58.30. Ormat Technologies has a 1-year low of $45.30 and a 1-year high of $63.56.
Ormat Technologies (NYSE:ORA) last issued its earnings results on Thursday, August 3rd. The energy company reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.03. Ormat Technologies had a net margin of 15.36% and a return on equity of 10.25%. The business had revenue of $179.36 million during the quarter, compared to the consensus estimate of $169.80 million. During the same period last year, the business posted $0.49 EPS. Ormat Technologies’s revenue was up 12.2% on a year-over-year basis. Equities analysts predict that Ormat Technologies will post $2.29 earnings per share for the current year.
In related news, CFO Doron Blachar sold 62,500 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $57.00, for a total value of $3,562,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gillon Beck sold 37,500 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $57.00, for a total transaction of $2,137,500.00. The disclosure for this sale can be found here. Insiders sold a total of 11,118,038 shares of company stock valued at $633,938,695 over the last quarter. 22.97% of the stock is currently owned by company insiders.
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Ormat Technologies Company Profile
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.
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