Ormat Technologies Inc. [NYSE: ORA] loss -10.18% or -10.2 points to close at $90.01 with a heavy trading volume of 4431769 shares. The company report on November 16, 2022 that Ormat Announces Pricing of Upsized Public Offering of Common Stock on Behalf of Stockholder ORIX Corporation.
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BofA Securities and J.P. Morgan are acting as joint book-running managers for the offering. Wolfe | Nomura Alliance, Citigroup, Cowen, Oppenheimer & Co., Roth Capital Partners, and UBS Investment Bank are acting as co-managers for the offering. The underwriters will have a 30-day option to purchase up to an additional 562,500 shares of Ormat’s common stock from ORIX Corporation.
The daily chart for ORA points out that the company has recorded 15.04% gains over the past six months.
If we look at the average trading volume of 486.69K shares, ORA reached to a volume of 4431769 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 $96.71 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.
Citigroup have made an estimate for Ormat Technologies Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 21, 2022. While these analysts kept the previous recommendation, BofA Securities dropped their target price from $94 to $75. The new note on the price target was released on January 26, 2022, representing the official price target for Ormat Technologies Inc. stock. Previously, the target price had yet another drop from $91 to $72, while Cowen kept a Market Perform rating on ORA stock.
The Average True Range (ATR) for Ormat Technologies Inc. is set at 3.41, with the Price to Sales ratio for ORA stock in the period of the last 12 months amounting to 7.02. The Price to Book ratio for the last quarter was 2.73, with the Price to Cash per share for the same quarter was set at 2.76.
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 -10.08. With this latest performance, ORA shares gained by 4.46% in over the last four-week period, additionally plugging by 15.04% over the last 6 months – not to mention a rise of 13.74% 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 43.39, with the RSI for the last a single of trading hit 36.81, and the three-weeks RSI is set at 46.46 for Ormat Technologies Inc. [ORA]. The present Moving Average for the last 50 days of trading for this stock 91.35, while it was recorded at 97.77 for the last single week of trading, and 82.92 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 +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 1.10 and a Current Ratio set at 1.30.
Ormat Technologies Inc. [ORA]: An earnings per share (EPS) analysis
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 10.00%.
An analysis of insider ownership at Ormat Technologies Inc. [ORA]
There are presently around $4,533 million, or 91.00% 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 0.20% of the total institutional ownership; BLACKROCK INC., holding 6,986,730 shares of the stock with an approximate value of $628.88 million in ORA stocks shares; and VANGUARD GROUP INC, currently with $384.01 million in ORA stock with ownership of nearly -2.234% 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 158 institutional holders increased their position in Ormat Technologies Inc. [NYSE:ORA] by around 5,912,255 shares. Additionally, 110 investors decreased positions by around 5,599,413 shares, while 37 investors held positions by with 38,853,840 shares. The mentioned changes placed institutional holdings at 50,365,508 shares, according to the latest SEC report filing. ORA stock had 68 new institutional investments in for a total of 764,535 shares, while 22 institutional investors sold positions of 290,169 shares during the same period.