Oppenheimer Believes ORA Won’t Stop HereBy Austin Angelo
Oppenheimer analyst Noah Kaye assigned a Buy rating to Ormat Technologies (NYSE: ORA) today and set a price target of $54. The company’s shares opened today at $48.91, close to its 52-week high of $51.19.
According to TipRanks.com, Kaye is a 4-star analyst with an average return of 3.7% and a 60.7% success rate. Kaye covers the Industrial Goods sector, focusing on stocks such as Rockwell Automation Inc, Waste Connections Inc., and Republic Services.
Ormat Technologies has an analyst consensus of Moderate Buy, with a price target consensus of $54.
Based on Ormat Technologies’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $185 million and quarterly net profit of $12.08 million. In comparison, last year the company earned revenue of $162 million and had a net profit of $72.14 million.
Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is negative on the stock. Most recently, in September 2016, Bob Sullivan, the EVP Sales Marketing BD of ORA bought 4,957 shares for a total of $148,462.
Ormat Technologies, Inc. is a holding company, which engages in the provision of renewable energy. It operates through the Electricity and Products segments. The Electricity segment develops and installs geothermal power plants. The Product segment manufactures and sells equipment for energy-based electricity generation, remote power units, and power generating units. The company was founded in 1965 and is headquartered in Reno, NV.