345 institutions hold shares in Ormat Technologies Inc. (ORA), with 549.2k shares held by insiders accounting for 0.98% while institutional investors hold 96.50% of the company’s shares. The shares outstanding are 55.98M, and float is at 55.85M with Short Float at 8.24%. Institutions hold 95.55% of the Float.
The top institutional shareholder in the company is Orix Corp with over 10.99 million shares valued at $992.05 million. The investor’s holdings represent 19.63% of the ORA Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 7.07 million shares valued at $638.17 million to account for 12.63% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 4.22 million shares representing 7.54% and valued at over $381.28 million, while Clal Insurance Enterprises Holdings Ltd holds 5.02% of the shares totaling 2.81 million with a market value of $253.89 million.
Ormat Technologies Inc. (NYSE: ORA) is -17.80% lower on its value in year-to-date trading and has touched a low of $53.44 and a high of $128.87 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The ORA stock was last observed hovering at around $74.73 in the last trading session, with the day’s loss setting it -0.52% off its average median price target of $94.00 for the next 12 months. It is also 31.29% off the consensus price target high of $108.00 offered by 7 analysts, but current levels are 8.38% higher than the price target low of $81.00 for the same period.
Currently trading at $74.21, the stock is -3.45% and -10.07% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.5 million and changing -0.70% at the moment leaves the stock -5.49% off its SMA200. ORA registered 14.49% gain for a year compared to 6-month gain of 5.20%. The firm has a 50-day simple moving average (SMA 50) of $77.75 and a 200-day simple moving average (SMA200) of $86.76.
The stock witnessed a -2.46% loss in the last 1 month and extending the period to 3 months gives it a -34.28%, and is -2.10% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.20% over the week and 3.69% over the month.
Ormat Technologies Inc. (ORA) has around 1402 employees, a market worth around $4.11B and $705.30M in sales. Current P/E ratio is 45.09 and Fwd P/E is 37.67. Profit margin for the company is 12.10%. Distance from 52-week low is 38.87% and -42.41% from its 52-week high. The company has generated returns on investments over the last 12 months (4.50%).
Ormat Technologies Inc. (ORA) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Ormat Technologies Inc. (ORA) is a “Overweight”. 7 analysts offering their recommendations for the stock have an average rating of 2.30, where 5 rate it as a Hold and 0 think it is a “Overweight”. 2 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Ormat Technologies Inc. is expected to release its quarterly report on 08/10/2021 and quarterly earnings per share for the current quarter are estimated at $0.37 with sales reaching $167.9M over the same period.The EPS is expected to shrink by -4.30% this year, but quarterly earnings will post -4.90% year-over-year.
Ormat Technologies Inc. (ORA) Insider Activity
A total of 10 insider transactions have happened at Ormat Technologies Inc. (ORA) in the last six months, with sales accounting for 0 and purchases happening 10 times. The most recent transaction is an insider purchase by Krieger Zvi, the company’s EVP- Electricty Segment. SEC filings show that Krieger Zvi bought 3,000 shares of the company’s common stock on Sep 22 at a price of $55.77 per share for a total of $0.17 million. Following the purchase, the insider now owns 5160.0 shares.
Ormat Technologies Inc. disclosed in a document filed with the SEC on Sep 15 that Benyosef Ofer (EVP – BD, Sales and Marketing) bought a total of 511 shares of the company’s common stock. The trade occurred on Sep 15 and was made at $58.00 per share for $29638.0. Following the transaction, the insider now directly holds 511.0 shares of the ORA stock.
Still, SEC filings show that on Aug 11, Ginzburg Assi (Chief Financial Officer) acquired 20,000 shares at an average price of $61.03 for $1.22 million. The insider now directly holds 20,000 shares of Ormat Technologies Inc. (ORA).
Ormat Technologies Inc. (ORA): Who are the competitors?
The company’s main competitors (and peers) include Covanta Holding Corporation (CVA) that is trading 74.34% up over the past 12 months. NRG Energy Inc. (NRG) is 4.88% up on the 1-year trading charts. Short interest in the company’s stock has fallen -14.71% from the last report on Apr 14, 2021 to stand at a total of 4.6 million short shares sold with a short interest ratio of 5.71.