Thursday, September 24, 2020

Oppenheimer slashes price target on Ormat Technologies Inc. [ORA] – find out why.

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Ormat Technologies Inc. [NYSE: ORA] loss -5.72% or -3.35 points to close at $55.23 with a heavy trading volume of 1125503 shares. The company report on September 15, 2020 that Ormat Technologies Confirms Receipt of Payment for All Prior-Year Invoices by ENEE in Honduras.

Management Intends to Expedite the Development of Additional 20MW Geothermal Power Plant in Honduras.

Ormat Technologies, Inc. (NYSE: ORA) today announced that Empresa Nacional de Energia Electrica, (ENEE), its customer for its Platanares geothermal power plant in Honduras, has paid the $20 million overdue payment that was outstanding from prior years.

It opened the trading session at $59.22, the shares rose to $59.80 and dropped to $53.44, the range by which the price of stock traded the whole day. The daily chart for ORA points out that the company has recorded -20.49% loss over the past six months. However, it is still -0.02% lower than its most recent low trading price.

If we look at the average trading volume of 366.25K shares, ORA reached to a volume of 1125503 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Ormat Technologies Inc. [ORA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ORA shares is $71.40 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ORA stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Oppenheimer have made an estimate for Ormat Technologies Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on August 06, 2020. The new note on the price target was released on July 09, 2020, representing the official price target for Ormat Technologies Inc. stock.

The Average True Range (ATR) for Ormat Technologies Inc. is set at 2.24, with the Price to Sales ratio for ORA stock in the period of the last 12 months amounting to 3.93. The Price to Book ratio for the last quarter was 1.97, with the Price to Cash per share for the same quarter was set at 3.35.

Trading performance analysis for ORA stock

Ormat Technologies Inc. [ORA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.54. With this latest performance, ORA shares dropped by -12.17% in over the last four-week period, additionally sinking by -20.49% over the last 6 months – not to mention a drop of -23.39% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ORA stock in for the last two-week period is set at 31.26, with the RSI for the last a single of trading hit 25.71, and the three-weeks RSI is set at 35.87 for Ormat Technologies Inc. [ORA]. The present Moving Average for the last 50 days of trading for this stock 60.90, while it was recorded at 58.64 for the last single week of trading, and 68.53 for the last 200 days.

Ormat Technologies Inc. [ORA]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Ormat Technologies Inc. [ORA] shares currently have an operating margin of +25.98 and a Gross Margin at +36.10. Ormat Technologies Inc.’s Net Margin is presently recorded at +11.81.

Return on Total Capital for ORA is now 7.03, given the latest momentum, and Return on Invested Capital for the company is 3.68. Return on Equity for this stock inclined to 6.50, with Return on Assets sitting at 2.77. When it comes to the capital structure of this company, Ormat Technologies Inc. [ORA] has a Total Debt to Total Equity ratio set at 91.14. Additionally, ORA Total Debt to Total Capital is recorded at 47.68, with Total Debt to Total Assets ending up at 39.04. Long-Term Debt to Equity for the company is recorded at 74.49, with the Long-Term Debt to Total Capital now at 38.97.

Reflecting on the efficiency of the workforce at the company, Ormat Technologies Inc. [ORA] managed to generate an average of $62,567 per employee. Receivables Turnover for the company is 3.60 with a Total Asset Turnover recorded at a value of 0.23.Ormat Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.30.

Ormat Technologies Inc. [ORA]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Ormat Technologies Inc. posted 0.3/share EPS, while the average EPS was predicted by analysts to be reported at 0.34/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -11.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ORA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Ormat Technologies Inc. go to 11.00%.

An analysis of insider ownership at Ormat Technologies Inc. [ORA]

There are presently around $2,282 million, or 83.00% of ORA stock, in the hands of institutional investors. The top three institutional holders of ORA stocks are: ORIX CORP with ownership of 10,988,577, which is approximately 0% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 4,141,636 shares of the stock with an approximate value of $228.74 million in ORA stocks shares; and BLACKROCK INC., currently with $221.66 million in ORA stock with ownership of nearly 1.772% of the company’s market capitalization.

Positions in Ormat Technologies Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 115 institutional holders increased their position in Ormat Technologies Inc. [NYSE:ORA] by around 2,873,818 shares. Additionally, 80 investors decreased positions by around 855,587 shares, while 30 investors held positions by with 37,581,332 shares. The mentioned changes placed institutional holdings at 41,310,737 shares, according to the latest SEC report filing. ORA stock had 34 new institutional investments in for a total of 476,809 shares, while 20 institutional investors sold positions of 189,101 shares during the same period.

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