Will Today’s Guggenheim Downgrade Harm Ormat Technologies (NYSE:ORA) Stock?

June 13, 2018 - By Stephen Andrade

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.

Barclays Public Ltd Liability invested in 21,902 shares. Federated Invsts Inc Pa reported 0% stake. Lpl Llc reported 0% stake. Schroder Invest Management Grp Incorporated holds 70,307 shares. Parallax Volatility Advisers L P reported 190 shares. Meeder Asset Mngmt reported 1,675 shares stake. United Automobile Association owns 5,791 shares or 0% of their US portfolio. Psagot House Limited accumulated 1,733 shares. Schwab Charles Investment Mgmt Incorporated reported 220,496 shares. 698,585 are owned by Impax Asset Mgmt. Metropolitan Life Insur Communications reported 0% of its portfolio in Ormat Technologies, Inc. (NYSE:ORA). 786,955 were reported by State Street. Citigroup, a New York-based fund reported 8,403 shares. Washington Trust Natl Bank invested 0% of its portfolio in Ormat Technologies, Inc. (NYSE:ORA). Assetmark Incorporated has invested 0% of its portfolio in Ormat Technologies, Inc. (NYSE:ORA).

Ormat Technologies (NYSE:ORA) Receives a Downgrade

In a note released on Wednesday, 13 June, Guggenheim revealed that they have decided to downgrade shares of Ormat Technologies (NYSE:ORA) to a “Hold”.

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 rating was downgraded by J.P. Morgan to “Hold” on Monday, May 14. On Thursday, January 25 the stock rating was maintained by JP Morgan with “Overweight”. Roth Capital maintained Ormat Technologies, Inc. (NYSE:ORA) rating on Friday, May 18. Roth Capital has “Buy” rating and $6700 target. The stock of Ormat Technologies, Inc. (NYSE:ORA) earned “Buy” rating by Cowen & Co on Thursday, March 1. The company was initiated on Friday, March 16 by UBS. JP Morgan maintained the stock with “Overweight” rating in Friday, March 16 report. Oppenheimer downgraded the shares of ORA in report on Friday, April 6 to “Perform” rating. The stock of Ormat Technologies, Inc. (NYSE:ORA) has “Buy” rating given on Friday, March 2 by Roth Capital. The stock of Ormat Technologies, Inc. (NYSE:ORA) earned “Buy” rating by Cowen & Co on Wednesday, January 24. The firm has “Buy” rating given on Thursday, January 25 by Roth Capital.

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 $24.83 million 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: Globes.Co.Il which released: “Tue: Teva rally fails to lift TASE” on June 12, 2018, also Globenewswire.com with their article: “Bragar Eagel & Squire, PC Announces That a Class Action Lawsuit Has Been Filed Against Ormat Technologies, Inc …” published on June 13, 2018, Prnewswire.com published: “SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Notifies Investors of Class Action Against Ormat …” 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 12, 2018 as well as Globenewswire.com‘s news article titled: “Ormat Class Action: Bernstein Liebhard LLP Files Securities Class Action Lawsuit Against Ormat Technologies, Inc …” with publication date: June 13, 2018.

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

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