Finally Time To Cut Your Stake? Guggenheim Downgrades Ormat Technologies (NYSE:ORA) Shares

June 13, 2018 - By Vivian Currie

Ormat Technologies, Inc. (NYSE:ORA) Logo

Investors sentiment decreased to 0.7 in Q1 2018. Its down 0.26, from 0.96 in 2017Q4. It worsened, 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.

Amer Century owns 0% invested in Ormat Technologies, Inc. (NYSE:ORA) for 22,166 shares. Wells Fargo And Mn holds 0% of its portfolio in Ormat Technologies, Inc. (NYSE:ORA) for 132,948 shares. Glenmede Trust Com Na, Pennsylvania-based fund reported 498,692 shares. Cypress Management Limited Liability Corporation (Wy) has invested 0.04% in Ormat Technologies, Inc. (NYSE:ORA). Tru Com Of Vermont reported 0.01% in Ormat Technologies, Inc. (NYSE:ORA). Malaga Cove Capital Limited Liability Company has invested 0.81% in Ormat Technologies, Inc. (NYSE:ORA). Fdx Advsr invested 0.01% in Ormat Technologies, Inc. (NYSE:ORA). Ameriprise Finance invested 0% of its portfolio in Ormat Technologies, Inc. (NYSE:ORA). The Kansas-based First State Bank Of Hutchinson has invested 0.39% in Ormat Technologies, Inc. (NYSE:ORA). Meeder Asset invested 0.01% in Ormat Technologies, Inc. (NYSE:ORA). Millennium Mngmt Limited Liability holds 6,936 shares. Clal Ins Enter Limited reported 2.24 million shares. Great West Life Assurance Can holds 0% or 4,682 shares in its portfolio. Tortoise Advisors Ltd Liability Co has 32 shares. Washington Trust State Bank reported 0% of its portfolio in Ormat Technologies, Inc. (NYSE:ORA).

Ormat Technologies (NYSE:ORA) Receives a Downgrade

The Rating of Ormat Technologies (NYSE:ORA) shares have been cut by Guggenheim from a “Buy” rating to a “Neutral” rating in analysts note published on Wednesday morning.

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 27.21% above currents $51.49 stock price. Ormat Technologies had 11 analyst reports since January 9, 2018 according to SRatingsIntel. The rating was maintained by Cowen & Co with “Buy” on Thursday, March 1. Roth Capital maintained the stock with “Buy” rating in Friday, May 18 report. UBS initiated the stock with “Hold” rating in Friday, March 16 report. The stock has “Overweight” rating by JP Morgan on Friday, March 16. On Friday, April 6 the stock rating was downgraded by Oppenheimer to “Perform”. The stock has “Overweight” rating by JP Morgan on Thursday, January 25. Roth Capital maintained the stock with “Buy” rating in Thursday, January 25 report. The stock of Ormat Technologies, Inc. (NYSE:ORA) has “Hold” rating given on Monday, May 14 by J.P. Morgan. The company was maintained on Wednesday, January 24 by Cowen & Co. Roth Capital maintained Ormat Technologies, Inc. (NYSE:ORA) rating on Friday, March 2. Roth Capital has “Buy” rating and $67.0 target.

The stock decreased 0.77% or $0.4 during the last trading session, reaching $51.49. About 26,895 shares traded. Ormat Technologies, Inc. (NYSE:ORA) has declined 10.26% since June 13, 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 EPS, down 15.52 % or $0.09 from last year’s $0.58 per share. ORA’s profit will be $24.84 million for 26.27 P/E if the $0.49 EPS becomes a reality. After $0.48 actual EPS 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 $2.61 billion. The firm operates in two divisions, Electricity and Product. It has a 15.89 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: Prnewswire.com which released: “Hagens Berman Alerts Investors in Ormat Technologies, Inc. (ORA) to the Firm’s Investigation of Admitted Improper …” on June 08, 2018, also Globes.Co.Il with their article: “Tue: Teva rally fails to lift TASE” published on June 12, 2018, Globenewswire.com published: “Bragar Eagel & Squire, PC Announces That a Class Action Lawsuit Has Been Filed Against Ormat Technologies, Inc …” on June 13, 2018. More interesting news about Ormat Technologies, Inc. (NYSE:ORA) were released by: Businesswire.com and their article: “ORA INVESTOR ALERT: The Law Offices of Vincent Wong Reminds Investors of an Investigation Involving Possible …” published on June 08, 2018 as well as Digitaljournal.com‘s news article titled: “NYSE:ORA Shareholder Notice: Investigation over Possible Securities Laws Violations by Ormat Technologies, Inc” with publication date: May 29, 2018.

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

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