Ormat Technologies Inc. [ORA] is -3.53% lower this YTD. Is it still time to buy?

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Ormat Technologies Inc. [NYSE: ORA] stock went on an upward path that rose over 0.03% on Wednesday, amounting to a one-week price increase of more than 5.82%. The company report on June 28, 2022 that Omnicell, Southwestern Energy and Ormat Technologies Set to Join S&P MidCap 400; Others to Join S&P SmallCap 600.


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S&P Dow Jones Indices (“S&P DJI”) will make the following changes to the S&P MidCap 400 and S&P SmallCap 600 indices:.

S&P SmallCap 600 constituent Omnicell Inc (NASD: OMCL) will replace Coherent Inc. (NASD: COHR) in the S&P MidCap 400, and Stride Inc (NYSE: LRN) will replace Omnicell in the S&P SmallCap 600 effective prior to the opening of trading on Tuesday, July 5. S&P MidCap 400 constituent II-VI Inc. (NASD: IIVI) is acquiring Coherent in a deal expected to be completed on July 1, pending final closing conditions.

Over the last 12 months, ORA stock rose by 10.90%. The one-year Ormat Technologies Inc. stock forecast points to a potential upside of 3.77. The average equity rating for ORA stock is currently 2.70, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $4.20 billion, with 56.06 million shares outstanding and 55.62 million shares in the current float. Compared to the average trading volume of 518.97K shares, ORA stock reached a trading volume of 7522569 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $79.50 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 2.70. 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.

BofA Securities have made an estimate for Ormat Technologies Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 26, 2022. While these analysts kept the previous recommendation, Cowen dropped their target price from $91 to $72. The new note on the price target was released on May 07, 2021, representing the official price target for Ormat Technologies Inc. stock. Previously, the target price had yet another raise to $86, while JP Morgan analysts kept a Neutral rating on ORA stock.

The Average True Range (ATR) for Ormat Technologies Inc. is set at 3.24, with the Price to Sales ratio for ORA stock in the period of the last 12 months amounting to 6.17. The Price to Book ratio for the last quarter was 2.29, with the Price to Cash per share for the same quarter was set at 3.15.

ORA Stock Performance Analysis:

Ormat Technologies Inc. [ORA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.82. With this latest performance, ORA shares dropped by -7.43% in over the last four-week period, additionally sinking by -2.61% over the last 6 months – not to mention a rise of 10.90% 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 49.57, with the RSI for the last a single of trading hit 50.84, and the three-weeks RSI is set at 49.12 for Ormat Technologies Inc. [ORA]. The present Moving Average for the last 50 days of trading for this stock 77.51, while it was recorded at 77.60 for the last single week of trading, and 75.49 for the last 200 days.

Insight into Ormat Technologies Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Ormat Technologies Inc. [ORA] shares currently have an operating margin of +26.35 and a Gross Margin at +39.86. Ormat Technologies Inc.’s Net Margin is presently recorded at +9.36.

Return on Equity for this stock inclined to 3.39, with Return on Assets sitting at 1.49.

Ormat Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 0.90.

ORA Stock EPS

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 12.00%.

Ormat Technologies Inc. [ORA] Insider Position Details

There are presently around $3,642 million, or 91.10% 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 4,650,385 shares of the stock with an approximate value of $355.66 million in ORA stocks shares; and VANGUARD GROUP INC, currently with $315.9 million in ORA stock with ownership of nearly -4.017% 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 104 institutional holders increased their position in Ormat Technologies Inc. [NYSE:ORA] by around 1,985,242 shares. Additionally, 113 investors decreased positions by around 3,710,044 shares, while 36 investors held positions by with 41,929,346 shares. The mentioned changes placed institutional holdings at 47,624,632 shares, according to the latest SEC report filing. ORA stock had 34 new institutional investments in for a total of 236,879 shares, while 21 institutional investors sold positions of 471,015 shares during the same period.

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