Ormat Tech (NYSE:ORA) Share Price May Be About to Change Direction; Guggenheim Downgrades Them

June 13, 2018 - By Michael Pereira

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 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.

New Amsterdam Prtnrs Ltd Liability Co owns 163,921 shares for 2.02% of their portfolio. Cap One Association invested in 13,566 shares. New York-based Van Eck Associate Corp has invested 0.11% in Ormat Technologies, Inc. (NYSE:ORA). The Maryland-based Price T Rowe Associates Incorporated Md has invested 0.01% in Ormat Technologies, Inc. (NYSE:ORA). Sei Invests stated it has 6,873 shares or 0% of all its holdings. Fifth Third Bancorp invested 0% in Ormat Technologies, Inc. (NYSE:ORA). Swiss Bank & Trust invested 0% of its portfolio in Ormat Technologies, Inc. (NYSE:ORA). Northwestern Mutual Wealth Mngmt Communication stated it has 0% of its portfolio in Ormat Technologies, Inc. (NYSE:ORA). Blackrock holds 0.01% of its portfolio in Ormat Technologies, Inc. (NYSE:ORA) for 2.47M shares. Royal State Bank Of Canada invested in 0% or 5,445 shares. Qs Invsts Ltd reported 0% stake. Eii Cap accumulated 1,156 shares or 0.04% of the stock. Moreover, Glenmede Na has 0.13% invested in Ormat Technologies, Inc. (NYSE:ORA). Aqr Capital Ltd Liability Company invested in 6,408 shares or 0% of the stock. First Advsr Ltd Partnership reported 0.01% stake.

Ormat Tech (NYSE:ORA) Receives a Downgrade

In an analyst report revealed on Wednesday, 13 June, Guggenheim cut shares of Ormat Tech (NYSE:ORA) to a lower Neutral rating from the previous Buy 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 28.26% above currents $51.07 stock price. Ormat Technologies had 11 analyst reports since January 9, 2018 according to SRatingsIntel. The rating was initiated by UBS with “Hold” on Friday, March 16. The rating was maintained by Roth Capital with “Buy” on Friday, March 2. The firm has “Hold” rating given on Monday, May 14 by J.P. Morgan. The firm earned “Overweight” rating on Thursday, January 25 by JP Morgan. The company was maintained on Friday, May 18 by Roth Capital. The stock of Ormat Technologies, Inc. (NYSE:ORA) earned “Buy” rating by Roth Capital on Thursday, January 25. The firm has “Perform” rating given on Friday, April 6 by Oppenheimer. On Thursday, March 1 the stock rating was maintained by Cowen & Co with “Buy”. The rating was maintained by Cowen & Co on Wednesday, January 24 with “Buy”. JP Morgan maintained the stock with “Overweight” rating in Friday, March 16 report.

The stock decreased 1.58% or $0.82 during the last trading session, reaching $51.07. About 69,736 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 26.06 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 $2.59 billion. The firm operates in two divisions, Electricity and Product. It has a 15.76 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: “SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Notifies Investors of Class Action Against Ormat …” on June 13, 2018, also Prnewswire.com with their article: “Investor Alert: Kaplan Fox Announces Investigation Of Ormat Technologies, Inc.” published on June 13, 2018, Businesswire.com published: “ORA INVESTOR ALERT: The Law Offices of Vincent Wong Reminds Investors of an Investigation Involving Possible …” on June 12, 2018. More interesting news about Ormat Technologies, Inc. (NYSE:ORA) were released by: Digitaljournal.com and their article: “SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Ormat Technologies, Inc …” published on June 12, 2018 as well as Benzinga.com‘s news article titled: “Benzinga’s Top Upgrades, Downgrades For June 13, 2018” with publication date: June 13, 2018.

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

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