Ormat Technologies (NYSE:ORA) Downgraded to “Hold” Rating by Jefferies Financial Group

Jefferies Financial Group cut shares of Ormat Technologies (NYSE:ORA) from a buy rating to a hold rating in a report issued on Friday morning, Marketbeat reports. Jefferies Financial Group currently has $130.00 target price on the energy company’s stock, up from their previous target price of $125.00.

A number of other equities analysts also recently issued reports on ORA. Weiss Ratings restated a “hold (c)” rating on shares of Ormat Technologies in a research note on Thursday, January 22nd. Roth Mkm set a $139.00 target price on Ormat Technologies in a report on Wednesday, January 28th. UBS Group restated a “buy” rating and set a $148.00 price target on shares of Ormat Technologies in a research note on Wednesday, February 4th. Barclays reduced their price target on shares of Ormat Technologies from $118.00 to $108.00 and set an “overweight” rating for the company in a research report on Thursday, January 15th. Finally, Oppenheimer raised their price objective on shares of Ormat Technologies from $125.00 to $136.00 and gave the stock an “outperform” rating in a report on Tuesday, January 27th. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $130.00.

Ormat Technologies Stock Down 1.9%

ORA opened at $118.15 on Friday. The stock has a market capitalization of $7.18 billion, a price-to-earnings ratio of 54.20, a PEG ratio of 4.83 and a beta of 0.77. The firm has a 50 day moving average price of $117.68 and a 200-day moving average price of $106.13. Ormat Technologies has a twelve month low of $62.91 and a twelve month high of $132.58. The company has a quick ratio of 0.70, a current ratio of 0.77 and a debt-to-equity ratio of 0.79.

Institutional Investors Weigh In On Ormat Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ORA. Curio Wealth LLC boosted its position in shares of Ormat Technologies by 29,200.0% in the second quarter. Curio Wealth LLC now owns 293 shares of the energy company’s stock worth $25,000 after purchasing an additional 292 shares during the period. Los Angeles Capital Management LLC purchased a new position in shares of Ormat Technologies during the 4th quarter valued at $32,000. Wolff Wiese Magana LLC bought a new position in Ormat Technologies in the 4th quarter worth $33,000. Smartleaf Asset Management LLC boosted its holdings in Ormat Technologies by 245.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 297 shares of the energy company’s stock worth $33,000 after buying an additional 211 shares during the period. Finally, Jones Financial Companies Lllp increased its stake in Ormat Technologies by 43.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company’s stock worth $35,000 after buying an additional 113 shares in the last quarter. Institutional investors own 95.49% of the company’s stock.

About Ormat Technologies

Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company’s core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.

Ormat’s offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.