Ormat Technologies (NYSE:ORA) Downgraded by ValuEngine

Ormat Technologies (NYSE:ORA) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, February 4th.

Separately, Zacks Investment Research lowered shares of Ormat Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, January 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Ormat Technologies has an average rating of “Hold” and an average target price of $64.25.

ORA traded down $0.05 during trading on Monday, hitting $55.78. The company had a trading volume of 159,669 shares, compared to its average volume of 119,174. The company has a current ratio of 1.06, a quick ratio of 0.97 and a debt-to-equity ratio of 0.67. Ormat Technologies has a one year low of $45.79 and a one year high of $60.26. The stock has a market capitalization of $2.83 billion, a P/E ratio of 26.82, a P/E/G ratio of 2.37 and a beta of 1.34.

A number of large investors have recently modified their holdings of ORA. Clean Yield Group bought a new position in Ormat Technologies in the 4th quarter valued at approximately $51,000. Strs Ohio acquired a new position in Ormat Technologies in the 4th quarter valued at approximately $52,000. Atlantic Trust LLC acquired a new position in Ormat Technologies in the 3rd quarter valued at approximately $108,000. Psagot Investment House Ltd. increased its position in Ormat Technologies by 16.5% in the 4th quarter. Psagot Investment House Ltd. now owns 2,303 shares of the energy company’s stock valued at $120,000 after acquiring an additional 326 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Ormat Technologies by 15.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,775 shares of the energy company’s stock valued at $197,000 after acquiring an additional 506 shares during the period. 75.56% of the stock is owned by institutional investors and hedge funds.

About Ormat Technologies

Ormat Technologies, Inc engages in the geothermal and recovered energy power business worldwide. The company operates through Electricity and Product segments. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity. This segment also offers energy storage, demand response, and energy management related services.

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Analyst Recommendations for Ormat Technologies (NYSE:ORA)

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