NEW YORK (
) is trading at unusually high volume Wednesday with 535,817 shares changing hands. It is currently at 4.6 times its average daily volume and trading down $2.64 (-9.4%) at $25.31 as of 3:52 p.m. ET.
Ormat has a market cap of $1.3 billion and is part of the
industry. Shares are down 5.5% year to date as of the close of trading on Tuesday.
Ormat Technologies, Inc., together with its subsidiaries, engages in the geothermal and recovered energy power business worldwide. The company operates in two segments, Electricity and Product. The company has a P/E ratio of 28.1, above the average utilities industry P/E ratio of 27.8 and above the S&P 500 P/E ratio of 23.2.
TheStreet Ratings rates Ormat as hold. The company's strengths can be seen in multiple areas, such as its increase in net income, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, disappointing return on equity and weak operating cash flow. You can view the full
See all heavy volume stocks in our
or get investment ideas from our