Oppenheimer analyst Noah Kaye assigned a Buy rating to Ormat Technologies (ORA) yesterday and set a price target of $70.00. The company’s shares closed last Tuesday at $72.54.
According to TipRanks.com, Kaye is a 5-star analyst with an average return of 7.8% and a 58.5% success rate. Kaye covers the Industrial Goods sector, focusing on stocks such as Rockwell Automation, Johnson Controls, and Dana Holding.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ormat Technologies with a $70.67 average price target.
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Ormat Technologies’ market cap is currently $3.68B and has a P/E ratio of 47.20. The company has a Price to Book ratio of 2.95.
Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ORA in relation to earlier this year.
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Ormat Technologies, Inc. is a holding company, which engages in the provision of geothermal and recovered energy power business. It operates through the following segments: Electricity, Products, and Other. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants in the United States, and geothermal power plants in other countries. The Product segment designs, manufactures, and sells equipment for geothermal and recovered energy-based electricity generation and remote power units, and provide services relating to the engineering, procurement, construction, operation and maintenance of geothermal and recovered energy-based power plants. The Other Segment segment offers energy storage, demand response and energy management related services energy storage, demand response, and energy management related services. The company was founded in 1965 and is headquartered in Reno, NV.
