Guggenheim Decides to Downgrade Ormat Tech (NYSE:ORA) Stock

June 13, 2018 - By Darrin Black

Ormat Technologies, Inc. (NYSE:ORA) Logo

Investors sentiment decreased to 0.7 in 2018 Q1. Its down 0.26, from 0.96 in 2017Q4. It worsened, as 21 investors sold Ormat Technologies, Inc. shares while 66 reduced holdings. 20 funds opened positions while 41 raised stakes. 20.95 million shares or 1.67% less from 21.31 million shares in 2017Q4 were reported.

Zebra Capital Mngmt Lc stated it has 0.18% of its portfolio in Ormat Technologies, Inc. (NYSE:ORA). Mufg Americas reported 270 shares or 0% of all its holdings. 3,946 are held by Sg Americas Securities Ltd Liability Corp. Schwab Charles Management Incorporated holds 220,496 shares. Synovus Fincl reported 329 shares. Gamco Invsts Et Al, New York-based fund reported 84,000 shares. Envestnet Asset Mgmt Inc accumulated 180 shares. Moreover, Credit Suisse Ag has 0% invested in Ormat Technologies, Inc. (NYSE:ORA) for 62,091 shares. Blackrock has 2.47M shares. California Pub Employees Retirement owns 0% invested in Ormat Technologies, Inc. (NYSE:ORA) for 54,958 shares. Aqr Cap Limited Liability Company accumulated 6,408 shares or 0% of the stock. Morgan Stanley stated it has 0% in Ormat Technologies, Inc. (NYSE:ORA). Guinness Asset Mngmt Limited owns 0.08% invested in Ormat Technologies, Inc. (NYSE:ORA) for 6,820 shares. Malaga Cove Capital Ltd Com has 26,843 shares for 0.81% of their portfolio. Trexquant Investment L P holds 0.07% or 17,409 shares in its portfolio.

Ormat Tech (NYSE:ORA) Receives a Downgrade

Guggenheim lowered their rating for shares of Ormat Tech (NYSE:ORA) from Buy to Neutral in a note that was shared with investors on 13 June.

Ormat Technologies, Inc. (NYSE:ORA) Ratings Coverage

Among 7 analysts covering Ormat Technologies (NYSE:ORA), 4 have Buy rating, 0 Sell and 3 Hold. Therefore 57% are positive. Ormat Technologies has $75.0 highest and $57.0 lowest target. $65.50’s average target is 28.26% above currents $51.07 stock price. Ormat Technologies had 11 analyst reports since January 9, 2018 according to SRatingsIntel. UBS initiated the stock with “Hold” rating in Friday, March 16 report. Cowen & Co maintained Ormat Technologies, Inc. (NYSE:ORA) rating on Wednesday, January 24. Cowen & Co has “Buy” rating and $75.0 target. As per Thursday, March 1, the company rating was maintained by Cowen & Co. Roth Capital maintained Ormat Technologies, Inc. (NYSE:ORA) rating on Thursday, January 25. Roth Capital has “Buy” rating and $70.0 target. Roth Capital maintained Ormat Technologies, Inc. (NYSE:ORA) rating on Friday, March 2. Roth Capital has “Buy” rating and $67.0 target. The rating was downgraded by Oppenheimer on Friday, April 6 to “Perform”. The stock of Ormat Technologies, Inc. (NYSE:ORA) earned “Overweight” rating by JP Morgan on Thursday, January 25. The rating was maintained by Roth Capital on Friday, May 18 with “Buy”. JP Morgan maintained it with “Overweight” rating and $68 target in Friday, March 16 report. The firm has “Hold” rating by J.P. Morgan given on Monday, May 14.

The stock decreased 1.58% or $0.82 during the last trading session, reaching $51.07. About 69,736 shares traded. Ormat Technologies, Inc. (NYSE:ORA) has declined 10.26% since June 13, 2017 and is downtrending. It has underperformed by 22.83% the S&P500.

Analysts await Ormat Technologies, Inc. (NYSE:ORA) to report earnings on August, 2. They expect $0.49 EPS, down 15.52 % or $0.09 from last year’s $0.58 per share. ORA’s profit will be $24.84 million for 26.06 P/E if the $0.49 EPS becomes a reality. After $0.48 actual EPS reported by Ormat Technologies, Inc. for the previous quarter, Wall Street now forecasts 2.08 % EPS growth.

Ormat Technologies, Inc. engages in geothermal and recovered energy power business worldwide. The company has market cap of $2.59 billion. The firm operates in two divisions, Electricity and Product. It has a 15.76 P/E ratio. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy power plants; and sells electricity.

More notable recent Ormat Technologies, Inc. (NYSE:ORA) news were published by: Digitaljournal.com which released: “ORMAT INVESTOR ALERT: Class Action Lawsuit Filed Against Ormat Technologies, Inc. – ORA” on June 13, 2018, also Digitaljournal.com with their article: “SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Ormat Technologies, Inc …” published on June 12, 2018, Prnewswire.com published: “SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Notifies Investors of Class Action Against Ormat …” on June 13, 2018. More interesting news about Ormat Technologies, Inc. (NYSE:ORA) were released by: Globenewswire.com and their article: “Hagens Berman Alerts Investors in Ormat Technologies, Inc. (NYSE: ORA) to the August 10, 2018 Securities Class …” published on June 12, 2018 as well as Businesswire.com‘s news article titled: “ORMAT INVESTOR ALERT: Kaskela Law Announces Shareholder Class Action Lawsuit Filed Against Ormat …” with publication date: June 11, 2018.

Ormat Technologies, Inc. (NYSE:ORA) Institutional Positions Chart

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