Ormat Technologies (NYSE:ORA) Receives Lower Rating From Guggenheim. What’s The Reasoning Behind This Move?

June 13, 2018 - By Vivian Park

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 dropped, 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.

Synovus Fin stated it has 329 shares or 0% of all its holdings. Ameritas Investment Partners has invested 0.01% in Ormat Technologies, Inc. (NYSE:ORA). Fifth Third Comml Bank holds 1,219 shares or 0% of its portfolio. Los Angeles Capital Mgmt & Equity has 9,158 shares. Trillium Asset Mgmt Ltd, Massachusetts-based fund reported 172,831 shares. Peak6 Limited Partnership owns 6,600 shares. Proshare Advsr Llc accumulated 5,160 shares or 0% of the stock. Panagora Asset Management holds 9,046 shares or 0% of its portfolio. Voya Ltd Limited Liability Company reported 17,824 shares. Moreover, Swiss National Bank & Trust has 0% invested in Ormat Technologies, Inc. (NYSE:ORA) for 65,334 shares. Northwestern Mutual Wealth Mngmt holds 201 shares or 0% of its portfolio. Northern Corporation has 494,099 shares. Dimensional Fund Advsr L P stated it has 1.54M shares or 0.04% of all its holdings. California State Teachers Retirement System holds 61,475 shares or 0.01% of its portfolio. Cornerstone Advsrs Incorporated owns 19 shares.

Ormat Technologies (NYSE:ORA) Receives a Downgrade

Guggenheim has given Ormat Technologies (NYSE:ORA) shares a new Neutral rating in a note issued to clients and investors on 13 June. This was a downgrade from the old Buy rating.

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 27.21% above currents $51.49 stock price. Ormat Technologies had 11 analyst reports since January 9, 2018 according to SRatingsIntel. On Friday, March 16 the stock rating was maintained by JP Morgan with “Overweight”. The rating was maintained by Cowen & Co on Wednesday, January 24 with “Buy”. UBS initiated it with “Hold” rating and $57.0 target in Friday, March 16 report. Cowen & Co maintained Ormat Technologies, Inc. (NYSE:ORA) on Thursday, March 1 with “Buy” rating. J.P. Morgan downgraded Ormat Technologies, Inc. (NYSE:ORA) on Monday, May 14 to “Hold” rating. The stock has “Buy” rating by Roth Capital on Friday, March 2. The stock of Ormat Technologies, Inc. (NYSE:ORA) earned “Perform” rating by Oppenheimer on Friday, April 6. The rating was maintained by Roth Capital on Friday, May 18 with “Buy”. The stock of Ormat Technologies, Inc. (NYSE:ORA) has “Buy” rating given on Thursday, January 25 by Roth Capital. The rating was maintained by JP Morgan with “Overweight” on Thursday, January 25.

The stock decreased 0.77% or $0.4 during the last trading session, reaching $51.49. About 26,895 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 earnings per share, down 15.52 % or $0.09 from last year’s $0.58 per share. ORA’s profit will be $24.84 million for 26.27 P/E if the $0.49 EPS becomes a reality. After $0.48 actual earnings per share 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 $2.61 billion. The firm operates in two divisions, Electricity and Product. It has a 15.89 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 Businesswire.com with their article: “ORA INVESTOR ALERT: The Law Offices of Vincent Wong Reminds Investors of an Investigation Involving Possible …” published on June 08, 2018, Globes.Co.Il published: “NYSE warns Ormat” on May 21, 2018. More interesting news about Ormat Technologies, Inc. (NYSE:ORA) were released by: Digitaljournal.com and their article: “SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Ormat Technologies, Inc …” published on June 12, 2018 as well as Prnewswire.com‘s news article titled: “Ormat Class Action: Bernstein Liebhard LLP Files Securities Class Action Lawsuit Against Ormat Technologies, Inc …” with publication date: June 11, 2018.

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

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