Ormat Technologies (ORA) Soars 3.63% to 52-Week High

Ormat Technologies (ORA) shares surged 3.63% today, reaching their highest level since June 2023 with an intraday gain of 3.79%.

The strategy of buying ORA shares after they reached a recent high and holding for 1 week showed underperformance over the past 5 years. The annualized return was -1.2%, significantly lower than the market average, indicating this strategy failed to capitalize on the broader market's gains. The maximum drawdown of 20.1% during the backtested period highlighted the risk of holding ORA during downturns.

Ormat Technologies' stock price has been on a strong upward trajectory, reaching a new 52-week high on June 25, 2025, with shares trading as high as $87.85. This milestone underscores the company's robust market performance and the growing interest from investors.

Analysts have also expressed optimism about Ormat Technologies' future prospects. Jefferies analyst Julien Dumoulin Smith maintained a Buy rating on the stock, setting a price target of $97.00. This positive rating reflects the analyst's confidence in the company's potential for further growth and financial success.

Ormat Technologies' recent earnings report further bolstered investor confidence. The company reported earnings per share (EPS) of $0.68 for the quarter, exceeding analysts' consensus estimates of $0.58. This strong financial performance demonstrates the company's ability to deliver on its promises and continue to grow.