Ormat Technologies saw a welcome improvement to its Relative Strength (RS) Rating on Friday, rising from 79 to 86.
Hone Your Stock-Picking Skills By Focusing On These Factors
IBD's proprietary rating identifies share price performance with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the trailing 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history shows that the best-performing stocks tend to have an RS Rating north of 80 as they begin their biggest price moves.
Ormat Technologies has risen more than 5% past a 76.77 entry in a first-stage cup with handle, meaning it's now out of a proper buy range. Look for the stock to offer a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week line.
Earnings-per-share growth dropped last quarter from 7% to 5%, but the top line rose from -4% to 2%.
The company holds the No. 6 rank among its peers in the Energy-Alternative/Other industry group. Enlight Renewable Energy, Centrus Energy and Bloom Energy are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
RELATED:
Stocks With Rising Relative Strength Ratings
Why Should You Use IBD's Relative Strength Rating?
How Relative Strength Line Can Help You Judge A Stock
Ready To Grow Your Investing Skills? Join An IBD Meetup Group!
