Ormat Technologies

ORA · NYSE

$87.31+$0.67 (+0.77%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $86.64

ORA analyst rating

BuyConsensus of 12 analysts over the last 12 months. 58% rate it a buy.

Strong buy0
Buy7
Hold5
Underperform0
Sell0

12-month price target · 13 analysts

Average $129.91 (+48.8% upside)

Low: $101.00
Now: $87.31
High: $152.25

Upgrades and downgrades

The latest rating actions, newest first

ORA analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
JP Morgan	Oct 19, 2026	Maintains	Neutral	$131.00 → $98.00	48%
UBS	Oct 1, 2026	Downgrade	Buy → Neutral	$157.00 → $100.00	45%
JP Morgan	Sep 9, 2026	Maintains	Neutral	$122.00 → $131.00	48%
Oppenheimer	Sep 9, 2026	Maintains	Outperform	$141.00 → $145.00	59%
RBC Capital	Sep 9, 2026	Maintains	Outperform	$130.00	51%
Bernstein	Sep 4, 2026	Upgrade	Underperform → Market Perform	$112.00	43%
Barclays	Aug 10, 2026	Maintains	Overweight	$127.00 → $122.00	54%
Oppenheimer	Aug 7, 2026	Maintains	Outperform	$144.00 → $141.00	59%
Barclays	Jul 16, 2026	Maintains	Overweight	$126.00 → $127.00	54%
Bernstein	Jun 17, 2026	Initiates	Underperform	$115.00	43%

The case for and against

Updated Feb 9, 2026

Bull case

Ormat Technologies Inc. has demonstrated a robust financial performance in Q3, reporting a revenue of $250 million that exceeded consensus estimates of $234 million, highlighting strong contributions from its Product and Energy Storage segments. The company's backlog in the Product segment surged by 12% quarter-over-quarter and 79% year-over-year, reaching $295 million, indicating a positive growth trajectory and strong demand. Additionally, Ormat has raised its revenue guidance for 2025 to a range of $960 million to $980 million, reflecting optimism regarding sustained momentum, particularly in the Product segment, which is expected to continue into 2026.

Bear case

The financial performance of Ormat Technologies Inc. indicates a negative outlook due to a year-over-year decline in electricity revenue, which totaled $167 million, falling short of both consensus and the company's forecast. Additionally, the gross margin dropped to 25.6%, significantly below consensus expectations and reflecting a weaker-than-anticipated mix of high-margin electricity sales. Despite improvements in product and storage revenues, the projected decline in electricity gross margins and the overall adjusted EBITDA decrease pose substantial concerns for the company's financial stability moving forward.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.