Pretty Bad Rating Given to Ormat Technologies (NYSE:ORA) By a Guggenheim

June 13, 2018 - By Kurt Siggers

Ormat Technologies, Inc. (NYSE:ORA) Logo

Investors sentiment decreased to 0.7 in 2018 Q1. Its down 0.26, from 0.96 in 2017Q4. It fall, as 21 investors sold Ormat Technologies, Inc. shares while 66 reduced holdings. 20 funds opened positions while 41 raised stakes. 20.95 million shares or 1.67% less from 21.31 million shares in 2017Q4 were reported.

State Bank Of Montreal Can reported 0% in Ormat Technologies, Inc. (NYSE:ORA). Barclays Public Limited Co reported 0% of its portfolio in Ormat Technologies, Inc. (NYSE:ORA). Ameriprise Financial reported 75,973 shares. 23,561 are held by Investec Asset Mgmt. Public Employees Retirement System Of Ohio invested in 0% or 787 shares. Pnc Group Inc has 99 shares. Mufg Americas invested 0% of its portfolio in Ormat Technologies, Inc. (NYSE:ORA). Company Of Vermont holds 0.01% of its portfolio in Ormat Technologies, Inc. (NYSE:ORA) for 1,206 shares. Washington Trust State Bank invested 0% of its portfolio in Ormat Technologies, Inc. (NYSE:ORA). The Alabama-based Regions has invested 0% in Ormat Technologies, Inc. (NYSE:ORA). Zebra Lc stated it has 8,885 shares. Moreover, Synovus Financial has 0% invested in Ormat Technologies, Inc. (NYSE:ORA) for 329 shares. Dupont Management reported 0.04% of its portfolio in Ormat Technologies, Inc. (NYSE:ORA). Winslow Evans Crocker reported 36 shares. Federated Investors Incorporated Pa has 0% invested in Ormat Technologies, Inc. (NYSE:ORA) for 18 shares.

Ormat Technologies (NYSE:ORA) Receives a Downgrade

Market activity behind shares of Ormat Technologies (NYSE:ORA) will likely interesting today as Guggenheim decreased the stock to a “Hold” rating.

Ormat Technologies, Inc. (NYSE:ORA) Ratings Coverage

Among 7 analysts covering Ormat Technologies (NYSE:ORA), 4 have Buy rating, 0 Sell and 3 Hold. Therefore 57% are positive. Ormat Technologies has $75.0 highest and $57.0 lowest target. $65.50’s average target is 27.68% above currents $51.3 stock price. Ormat Technologies had 11 analyst reports since January 9, 2018 according to SRatingsIntel. The firm has “Buy” rating given on Thursday, January 25 by Roth Capital. The company was maintained on Thursday, March 1 by Cowen & Co. The stock of Ormat Technologies, Inc. (NYSE:ORA) has “Hold” rating given on Monday, May 14 by J.P. Morgan. The rating was maintained by Roth Capital with “Buy” on Friday, May 18. Roth Capital maintained Ormat Technologies, Inc. (NYSE:ORA) on Friday, March 2 with “Buy” rating. JP Morgan maintained the stock with “Overweight” rating in Thursday, January 25 report. The stock of Ormat Technologies, Inc. (NYSE:ORA) earned “Buy” rating by Cowen & Co on Wednesday, January 24. The firm has “Perform” rating by Oppenheimer given on Friday, April 6. JP Morgan maintained it with “Overweight” rating and $68 target in Friday, March 16 report. The rating was initiated by UBS with “Hold” on Friday, March 16.

The stock decreased 1.14% or $0.59 during the last trading session, reaching $51.3. About 242,322 shares traded. Ormat Technologies, Inc. (NYSE:ORA) has declined 10.26% since June 14, 2017 and is downtrending. It has underperformed by 22.83% the S&P500.

Analysts await Ormat Technologies, Inc. (NYSE:ORA) to report earnings on August, 2. They expect $0.49 earnings per share, down 15.52 % or $0.09 from last year’s $0.58 per share. ORA’s profit will be $24.83M for 26.17 P/E if the $0.49 EPS becomes a reality. After $0.48 actual earnings per share reported by Ormat Technologies, Inc. for the previous quarter, Wall Street now forecasts 2.08 % EPS growth.

Ormat Technologies, Inc. engages in geothermal and recovered energy power business worldwide. The company has market cap of $2.60 billion. The firm operates in two divisions, Electricity and Product. It has a 15.83 P/E ratio. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy power plants; and sells electricity.

More notable recent Ormat Technologies, Inc. (NYSE:ORA) news were published by: Globenewswire.com which released: “Hagens Berman Alerts Investors in Ormat Technologies, Inc. (NYSE: ORA) to the August 10, 2018 Securities Class …” on June 12, 2018, also Prnewswire.com with their article: “SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Notifies Investors of Class Action Against Ormat …” published on June 13, 2018, Globes.Co.Il published: “Tue: Teva rally fails to lift TASE” on June 12, 2018. More interesting news about Ormat Technologies, Inc. (NYSE:ORA) were released by: Globenewswire.com and their article: “Bragar Eagel & Squire, PC Announces That a Class Action Lawsuit Has Been Filed Against Ormat Technologies, Inc …” published on June 13, 2018 as well as Businesswire.com‘s news article titled: “The Klein Law Firm Notifies Investors of an Investigation Concerning Possible Violations of Federal Securities Laws by …” with publication date: June 13, 2018.

Ormat Technologies, Inc. (NYSE:ORA) Institutional Positions Chart

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