Ormat Technologies (ORA) Receives a Hold from Oppenheimer

By Carrie Williams

In a report released yesterday, Noah Kaye from Oppenheimer maintained a Hold rating on Ormat Technologies (ORAResearch Report). The company’s shares closed last Monday at $79.88.

According to TipRanks.com, Kaye is a 4-star analyst with an average return of 7.3% and a 56.4% success rate. Kaye covers the Industrial Goods sector, focusing on stocks such as Rockwell Automation, Caterpillar, and BorgWarner.

The word on The Street in general, suggests a Hold analyst consensus rating for Ormat Technologies.

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Based on Ormat Technologies’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $15.61 million. In comparison, last year the company had a net profit of $18.22 million.

Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ORA in relation to earlier this year. Most recently, in December 2019, Shlomi Argas, the EVP, Product Segment of ORA sold 1,521 shares for a total of $118,182.

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Ormat Technologies, Inc. is a holding company, which engages in the provision of geothermal and recovered energy power business. It operates through the following segments: Electricity, Products, and Other.