Ormat Technologies Inc. [NYSE: ORA] slipped around -7.27 points on Wednesday, while shares priced at $74.99 at the close of the session, down -8.84%. The company report on November 19, 2020 that Ormat Announces Pricing of Public Offering of Common Stock.
Ormat Technologies, Inc. (NYSE: ORA) (“Ormat” or the “Company”), a leading vertically integrated company that is primarily engaged in the geothermal and recovered energy generation (“REG”) businesses, as well the solar photovoltaic (PV) and energy storage and management services business, today announced that it has priced its underwritten public offering of 4,150,000 shares of its common stock at a price of $74.00 per share. The offering is expected to close on November 23, 2020, subject to market and other conditions.
Ormat intends to use the net proceeds from the offering for general corporate purposes, including working capital and capital expenditures, and for potential acquisitions, including complementary businesses, technologies or assets.
Ormat Technologies Inc. stock is now 0.63% up from its year-to-date (YTD) trading value. ORA Stock saw the intraday high of $81.475 and lowest of $74.68 per share. The company’s 52-week high price is 87.07, which means current price is +40.33% above from all time high which was touched on 02/19/20.
Compared to the average trading volume of 487.63K shares, ORA reached a trading volume of 1231284 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say 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 $72.60 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 3.60, with the Price to Sales ratio for ORA stock in the period of the last 12 months amounting to 5.27. The Price to Book ratio for the last quarter was 2.66, with the Price to Cash per share for the same quarter was set at 3.91.
How has ORA stock performed recently?
Ormat Technologies Inc. [ORA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.39. With this latest performance, ORA shares gained by 3.08% in over the last four-week period, additionally plugging by 8.67% over the last 6 months – not to mention a drop of -2.06% 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 53.17, with the RSI for the last a single of trading hit 47.36, and the three-weeks RSI is set at 54.30 for Ormat Technologies Inc. [ORA]. The present Moving Average for the last 50 days of trading for this stock 67.75, while it was recorded at 79.59 for the last single week of trading, and 66.51 for the last 200 days.
Ormat Technologies Inc. [ORA]: Deeper insight into the fundamentals
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 2.10 and a Current Ratio set at 2.30.
Earnings analysis for Ormat Technologies Inc. [ORA]
With the latest financial reports released by the company, Ormat Technologies Inc. posted 0.24/share EPS, while the average EPS was predicted by analysts to be reported at 0.52/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -53.80%. 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%.
Insider trade positions for Ormat Technologies Inc. [ORA]
There are presently around $3,260 million, or 85.40% 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 0.20% of the total institutional ownership; BLACKROCK INC., holding 4,236,481 shares of the stock with an approximate value of $317.69 million in ORA stocks shares; and VANGUARD GROUP INC, currently with $287.87 million in ORA stock with ownership of nearly -7.311% of the company’s market capitalization.
Positions in Ormat Technologies Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 114 institutional holders increased their position in Ormat Technologies Inc. [NYSE:ORA] by around 4,562,160 shares. Additionally, 96 investors decreased positions by around 2,410,085 shares, while 28 investors held positions by with 36,506,209 shares. The mentioned changes placed institutional holdings at 43,478,454 shares, according to the latest SEC report filing. ORA stock had 35 new institutional investments in for a total of 899,070 shares, while 30 institutional investors sold positions of 310,797 shares during the same period.