NEW YORK ( TheStreet) -- Ormat Technologies (NYSE: ORA) hit a new 52-week low Wednesday as it is currently trading at $21.67, below its previous 52-week high of $31.23 with 70,522 shares traded as of 12:56 p.m. ET. Average volume has been 208,600 shares over the past 30 days.

Ormat has a market cap of $998.6 million and is part of the utilities sector and utilities industry. Shares are down 25.6% 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 39.2, above the average utilities industry P/E ratio of 37.9 and above the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates Ormat as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, feeble growth in the company's earnings per share and deteriorating net income. You can view the full Ormat Ratings Report.

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