A Utah Drilling Project Puts Ormat Technologies (ORA) at the Center of Geothermal’s Next Push
Yahoo Finance ·
A Utah Drilling Project Puts Ormat Technologies (ORA) at the Center of Geothermal’s Next Push Farooq Thu, November 5, 2026 at 5:31 PM EST 3 min read SPCX -9.58% ORA -0.57% TSLA -12.08% In our recently published list of the 10 Stocks That Could Skyrocket in 2027 , Ormat Technologies (NYSE:ORA) ranked 10th. SpaceX's public debut in June gave investors a new yardstick for how fast a space-linked stock can move, in both directions. Since then, shares of newer space companies have swung hard around SpaceX's latest report. Yahoo Finance reported on October 21 that SpaceX opened with its biggest jump since the debut, after third-quarter revenue and profit beat Wall Street estimates. The company's AI business now brings in nearly half of its sales. Elon Musk said on the earnings call that SpaceX and Tesla have each formed special committees of independent directors to study a combination, and that he cannot take part in the decision as a conflicted party, Yahoo Finance reported. Gene Munster of Deepwater Asset Management puts the odds of a deal within two years at 95%. A merged company would be worth about $3.5 trillion. For a look at how the smaller rival compares, see our piece on how SpaceX stacks up against Rocket Lab . Spending is rising too. Chris Versace of Tematica Research wrote on October 21 that SpaceX's plan to spend $35 billion to $40 billion in the fourth quarter points to a new and higher level of capital spending than the market expected. He noted that a $63 billion backlog supports it. Ormat designs and builds geothermal and recovered-energy power plants in more than 30 countries and operates plants of its own, including in Kenya, Guatemala and the United States. Jovine's ad says revenue just reached $990 million, close to $1 billion for the first time, with management guiding to more than $1.1 billion next year. It adds that energy storage sales more than doubled in a quarter and that the backlog of signed but undelivered contracts jumped nearly 80%. He also notes that Ormat won exclusive rights this year to build the first commercial plant using a next-generation technology backed by Meta. Our earlier reporting on what Google's Fervo deal could mean for geothermal gives the wider picture. FREE REPORT: What are billionaires buying right now? While we acknowledge the potential of ORA as an investment, you should take a look at these billionaire-backed stocks before making your next move. Insider Monkey just released an exclusive look into the hidden portfolios of the world's top fund managers. Get instant, free access to the " 7 Stocks Warren Buffett & Billionaires Are Quietly Hoarding" report and join 2.5 million monthly readers leveraging elite hedge fund data to build wealth. Get it NOW! READ NEXT: Jim Cramer Says Cerebras (CBRS) Is a Good Company and Too Expensive a Stock and Amazon vs. Alphabet: Is GOOGL's Cloud Growth Being Undervalued? Disclosure: None. Follow Insider Monkey on Google News .
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