Ormat Technologies (NYSE:ORA) Director Sells $38,392.00 in Stock

Ormat Technologies, Inc. (NYSE:ORA) Director Stanley Stern sold 400 shares of the stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $95.98, for a total transaction of $38,392.00. Following the sale, the director directly owned 4,861 shares of the company’s stock, valued at approximately $466,558.78. This represents a 7.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Stanley Stern also recently made the following trade(s):

• On Friday, September 26th, Stanley Stern sold 229 shares of Ormat Technologies stock. The stock was sold at an average price of $94.83, for a total transaction of $21,716.07.
• On Wednesday, August 27th, Stanley Stern sold 876 shares of Ormat Technologies stock. The shares were sold at an average price of $91.98, for a total value of $80,574.48.

Ormat Technologies Stock Performance

ORA opened at $100.35 on Thursday. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.77. The firm has a market cap of $6.09 billion, a PE ratio of 46.67, a P/E/G ratio of 4.48 and a beta of 0.69. The business has a fifty day simple moving average of $91.17 and a 200-day simple moving average of $81.61. Ormat Technologies, Inc. has a fifty-two week low of $61.58 and a fifty-two week high of $101.15.

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

Ormat Technologies Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ORA. Curio Wealth LLC raised its stake in shares of 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 in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Ormat Technologies by 251.0% in the second quarter. EverSource Wealth Advisors LLC now owns 523 shares of the energy company’s stock worth $44,000 after buying an additional 374 shares during the last quarter. UMB Bank n.a. raised its position in Ormat Technologies by 42.6% during the first quarter. UMB Bank n.a. now owns 880 shares of the energy company’s stock valued at $62,000 after acquiring an additional 263 shares in the last quarter. Signaturefd LLC lifted its stake in Ormat Technologies by 60.6% in the first quarter. Signaturefd LLC now owns 890 shares of the energy company’s stock valued at $63,000 after acquiring an additional 336 shares during the last quarter. Finally, CWM LLC grew its position in Ormat Technologies by 294.2% in the first quarter. CWM LLC now owns 887 shares of the energy company’s stock worth $63,000 after acquiring an additional 662 shares in the last quarter. 95.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on ORA shares. Barclays decreased their price objective on shares of Ormat Technologies from $90.00 to $89.00 and set an “overweight” rating for the company in a research note on Friday, August 8th. Robert W. Baird raised Ormat Technologies from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $87.00 to $103.00 in a research report on Wednesday, July 30th. UBS Group upped their price target on Ormat Technologies from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Roth Capital restated a “buy” rating and set a $98.00 price objective (up from $88.00) on shares of Ormat Technologies in a research report on Tuesday, August 5th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $100.00 target price on shares of Ormat Technologies in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $94.50.

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.