Oppenheimer analyst Noah Kaye maintained a Hold rating on Ormat Technologies (ORA) today. The company’s shares closed yesterday at $54.05.
Kaye said:
“We recently held a call with Ormat CFO Doron Blachar to discuss key topics, including (1) the Puna, HI plant’s restart and insurance claim activity; (2) Electricity segment project pricing and development timetables; (3) diversification in the (4) energy storage pipeline. We believe execution on key growth initiatives remains largely on track. While we believe the shares could stay range- bound until a resolution of Puna’s insurance claims and line of sight to restart, we note other potential catalysts, including new international PPAs in development. We remain sidelined on valuation and continue to look for an entry point.”
According to TipRanks.com, Kaye is a 3-star analyst with an average return of 2.2% and a 51.2% success rate. Kaye covers the Basic Materials sector, focusing on stocks such as Advanced Disposal Services Inc, Waste Connections Inc, and Republic Services.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ormat Technologies with a $60 average price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $70.68 and a one-year low of $45.79. Currently, Ormat Technologies has an average volume of 199.1K.
Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is negative on the stock.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Ormat Technologies, Inc. is a holding company, which engages in the geothermal and recovered energy power business. It operates through the Electricity and Products segments.
