News stories about Ormat Technologies (NYSE:ORA) have been trending somewhat positive this week, Accern reports. The research firm rates the sentiment of news coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Ormat Technologies earned a media sentiment score of 0.06 on Accern’s scale. Accern also assigned media stories about the energy company an impact score of 85 out of 100, indicating that recent news coverage is very likely to have an impact on the company’s share price in the next several days.
Here are some of the news articles that may have effected Accern Sentiment Analysis’s analysis:
- Sun: TASE rises despite Teva slide – Globes (globes.co.il)
- Ormat Technologies, Inc. (NYSE:ORA) vs. Energizer Holdings, Inc. (NYSE:ENR): A look inside the numbers – Evergreen Caller (evergreencaller.com)
- Are Analysts Pounding the Table on Ormat Technologies, Inc. (NYSE:ORA? – Evergreen Caller (evergreencaller.com)
- Ormat Technologies, Inc. (NYSE:ORA) Experiences Heavier than Average Trading Volume (highlightpress.com)
- $169.72 Million in Sales Expected for Ormat Technologies, Inc. (ORA) This Quarter (americanbankingnews.com)
Shares of Ormat Technologies (NYSE:ORA) traded up 0.03% during trading on Monday, reaching $57.79. 62,228 shares of the company’s stock traded hands. Ormat Technologies has a 52-week low of $44.41 and a 52-week high of $61.49. The company’s 50-day moving average is $59.10 and its 200 day moving average is $56.57. The company has a market cap of $2.87 billion, a price-to-earnings ratio of 29.16 and a beta of 1.19.
Ormat Technologies (NYSE:ORA) last issued its earnings results on Monday, May 8th. The energy company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.65 by $0.05. Ormat Technologies had a net margin of 14.26% and a return on equity of 10.05%. The company had revenue of $189.90 million for the quarter, compared to the consensus estimate of $177.42 million. During the same period in the previous year, the firm earned $0.59 earnings per share. The firm’s revenue for the quarter was up 25.3% on a year-over-year basis. Equities analysts forecast that Ormat Technologies will post $2.30 EPS for the current year.
A number of equities analysts recently issued reports on ORA shares. Zacks Investment Research upgraded shares of Ormat Technologies from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Friday, May 12th. BidaskClub cut shares of Ormat Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Cowen and Company set a $67.00 price objective on shares of Ormat Technologies and gave the stock a “buy” rating in a research report on Wednesday, May 10th. Oppenheimer Holdings, Inc. set a $65.00 price objective on shares of Ormat Technologies and gave the stock a “buy” rating in a research report on Thursday, May 4th. Finally, J P Morgan Chase & Co upgraded shares of Ormat Technologies from a “neutral” rating to an “overweight” rating and upped their price target for the company from $65.00 to $71.00 in a research report on Wednesday, June 7th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $65.25.
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In related news, Director Robert F. Clarke sold 15,000 shares of the company’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $56.97, for a total value of $854,550.00. Following the transaction, the director now owns 7,500 shares in the company, valued at approximately $427,275. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Zvi Krieger sold 7,704 shares of the company’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $57.81, for a total transaction of $445,368.24. Following the completion of the transaction, the vice president now owns 7,704 shares in the company, valued at approximately $445,368.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,854 shares of company stock worth $3,300,521. Company insiders own 22.97% of the company’s stock.
About Ormat Technologies
Ormat Technologies, Inc is engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy-based power plants. Its equipment manufacturing operations are located in Israel. It conducts its business activities in two business segments: Electricity segment and Product segment.
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