Roth Capital Initiates Coverage on Ormat Technologies to Buy

Roth Capital Initiates Coverage on Ormat Technologies(NYSE:ORA). The shares have been rated Buy. The rating by Roth Capital was issued on Jul 28, 2016.

In a different note, On May 6, 2016, JP Morgan said it Downgrades its rating on Ormat Technologies. The shares have been rated ‘Neutral’ by the firm.

Ormat Technologies (ORA) shares turned negative on Thursdays trading session with the shares closing down -0.84 points or -1.74% at a volume of 1,95,450. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $47.98. The peak price level was also seen at $47.98 while the days lowest was $47.29. Finally the shares closed at $47.56. The 52-week high of the shares is $49.1032 while the 52-week low is $32.25. According to the latest information available, the market cap of the company is $2,349 M.

Ormat Technologies(ORA) last announced its earnings results on May 4, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $151.59M. Analysts had an estimated revenue of $138.33M. Earnings per share were $0.59. Analysts had estimated an EPS of $0.37.

Several Insider Transactions has been reported to the SEC. On Jul 5, 2016, Shimon Hatzir (Executive V.P. Engineering.) sold 2,857 shares at $43.50 per share price.Also, On Jun 9, 2016, Shlomi Argas (Executive V.P., Projects) sold 6,344 shares at $44.60 per share price.On Jun 8, 2016, Nir Wolf (E.V.P. Market Develop.) sold 5,793 shares at $43.90 per share price, according to the Form-4 filing with the securities and exchange commission.

Ormat Technologies Inc. is engaged in the geothermal and recovered energy power business. The Company designs develops builds owns and operates geothermal and recovered energy-based power plants various countries including the United States of America Kenya and Guatemala. The company’s equipment manufacturing operations are located in Israel. The Company conducts its business activities in two business segments: Electricity Segment and Product Segment. The Product Segment designs manufactures and sells equipment for geothermal and recovered energy-based electricity generation remote power units and other power generating units and provide services relating to the engineering procurement construction operation and maintenance of geothermal and recovered energy-based power plants. The Company’s customers include Southern California Edison Sierra Pacific Power Company Nevada Power Company HELCO and SCPPA.

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