Doron Blachar Sells 14,994 Shares of Ormat Technologies (NYSE:ORA) Stock

Ormat Technologies, Inc. (NYSE:ORA) CEO Doron Blachar sold 14,994 shares of the business’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $94.71, for a total transaction of $1,420,081.74. Following the completion of the sale, the chief executive officer owned 35,419 shares of the company’s stock, valued at approximately $3,354,533.49. This represents a 29.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Ormat Technologies Stock Performance

Shares of NYSE:ORA opened at $100.35 on Thursday. The company has a market capitalization of $6.09 billion, a price-to-earnings ratio of 46.67, a price-to-earnings-growth ratio of 4.48 and a beta of 0.69. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.77. Ormat Technologies, Inc. has a 52 week low of $61.58 and a 52 week high of $101.15. The firm has a 50 day moving average of $91.17 and a 200 day moving average of $81.61.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings results on Wednesday, August 6th. The energy company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.37 by $0.11. The firm had revenue of $234.02 million during the quarter, compared to analyst estimates of $225.26 million. Ormat Technologies had a return on equity of 5.47% and a net margin of 14.49%.The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.37 EPS. On average, sell-side analysts predict that Ormat Technologies, Inc. will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Wednesday, August 20th. Ormat Technologies’s payout ratio is 22.33%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Oppenheimer reiterated an “outperform” rating and set a $100.00 price objective on shares of Ormat Technologies in a research note on Friday, August 8th. Piper Sandler raised Ormat Technologies from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $90.00 to $102.00 in a research report on Wednesday, September 17th. Robert W. Baird raised Ormat Technologies from a “neutral” rating to an “outperform” rating and upped their target price for the company from $87.00 to $103.00 in a research report on Wednesday, July 30th. Baird R W raised Ormat Technologies from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 30th. Finally, TD Cowen upped their price objective on shares of Ormat Technologies from $76.00 to $85.00 and gave the company a “hold” rating in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Ormat Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $94.50.

Institutional Trading of Ormat Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Curio Wealth LLC grew its position in Ormat Technologies by 29,200.0% during the 2nd quarter. Curio Wealth LLC now owns 293 shares of the energy company’s stock worth $25,000 after purchasing an additional 292 shares during the period. EverSource Wealth Advisors LLC grew its position in Ormat Technologies by 251.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 523 shares of the energy company’s stock worth $44,000 after purchasing an additional 374 shares during the period. UMB Bank n.a. grew its holdings in Ormat Technologies by 42.6% during the first quarter. UMB Bank n.a. now owns 880 shares of the energy company’s stock worth $62,000 after acquiring an additional 263 shares during the period. GAMMA Investing LLC grew its holdings in Ormat Technologies by 57.4% during the second quarter. GAMMA Investing LLC now owns 886 shares of the energy company’s stock worth $74,000 after acquiring an additional 323 shares during the period. Finally, CWM LLC grew its holdings in Ormat Technologies by 294.2% during the first quarter. CWM LLC now owns 887 shares of the energy company’s stock worth $63,000 after acquiring an additional 662 shares during the period. Institutional investors and hedge funds own 95.49% of the company’s stock.

Ormat Technologies Company Profile

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, Guadeloupe, New Zealand, Honduras, and internationally. It operates in three segments: Electricity, Product, and Energy Storage. The Electricity segment develops, builds, owns, and operates geothermal, solar photovoltaic, and recovered energy-based power plants; and sells electricity.