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Ormat Technologies Inc. (NYSE:ORA) traded today at a new 52-week high of $91.01. Approximately 169,000 shares have changed hands today, as compared to an average 30-day volume of 1.1 million shares.
Over the past year, Ormat Technologies Inc. has traded in a range of $60.32 to $91.01 and is now at $90.50, 50% above that low.
Ormat Technologies derives approximately 80% of its revenue from building and operating geothermal plants and the rest from manufacturing geothermal and recovered energy equipment. Nearly two thirds of its capacity is in the United States, with the balance in Africa and Central America. Nearly all the plants have long-term contracts with local utilities.
Ormat Technologies Inc. (NYSE:ORA) defies analysts with a current price ($90.50) 8.8% above its average consensus price target of $82.51.
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