One company that should be on your radar is Ormat Technologies Inc. ( ORA ). The stock of this Other Alternate Energy industry has seen its Zacks Rank surge over the past four weeks, moving from Neutral territory to its current position as a Strong Buy.
A key reason for this move has been the positive trend in the earnings estimate revisions picture. For ORA's full year estimate, we have seen 2 estimates go higher in the past 30 days, compared to just no downward revision. This trend has helped the consensus estimate to trend higher, going from 83 cents a share a month ago to its current level at $1.14.
This positive shift in estimates has made some investors take notice and buy the stock. In fact, ORA has seen some pretty solid trading lately, as the company has moved higher by 14.8% in the past month.
If Ormat Technologies can keep up this great momentum on the earnings estimate front and continue to impress analysts, we could see more gains ahead for this company, suggesting that you might want to put ORA on your watch list for the future.
Other top-ranked stocks worth considering in this space include Ceres, Inc. ( CERE ), Gevo, Inc. ( GEVO ), and Pattern Energy Group Inc. ( PEGI ). All these carry a Zacks Rank #2 (Buy).
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