Isaac Angel Sells 18,018 Shares of Ormat Technologies (NYSE:ORA) Stock

Ormat Technologies, Inc. (NYSE:ORA) Director Isaac Angel sold 18,018 shares of Ormat Technologies stock in a transaction on Friday, November 7th. The shares were sold at an average price of $112.42, for a total value of $2,025,583.56. Following the completion of the transaction, the director owned 29,650 shares of the company’s stock, valued at approximately $3,333,253. The trade was a 37.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Ormat Technologies Price Performance

Shares of ORA stock opened at $112.79 on Wednesday. Ormat Technologies, Inc. has a 52 week low of $61.58 and a 52 week high of $115.72. The stock has a market capitalization of $6.85 billion, a PE ratio of 52.46, a PEG ratio of 4.84 and a beta of 0.77. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.64 and a current ratio of 0.70. The stock’s fifty day moving average is $101.40 and its 200-day moving average is $89.40.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Monday, November 3rd. The energy company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.04. Ormat Technologies had a net margin of 14.49% and a return on equity of 5.47%. The business had revenue of $249.73 million for the quarter, compared to the consensus estimate of $235.03 million. During the same quarter in the prior year, the company earned $0.36 EPS. The firm’s quarterly revenue was up 17.9% on a year-over-year basis. Ormat Technologies has set its FY 2025 guidance at EPS. Equities research analysts expect that Ormat Technologies, Inc. will post 1.94 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, November 17th. Ormat Technologies’s dividend payout ratio is 22.02%.

Institutional Trading of Ormat Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Curio Wealth LLC boosted its stake 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 acquiring an additional 292 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in Ormat Technologies by 43.8% in the third quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company’s stock worth $35,000 after purchasing an additional 113 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Ormat Technologies by 251.0% during the second quarter. EverSource Wealth Advisors LLC now owns 523 shares of the energy company’s stock worth $44,000 after purchasing an additional 374 shares in the last quarter. AlphaQuest LLC grew its holdings in shares of Ormat Technologies by 218.0% in the 3rd quarter. AlphaQuest LLC now owns 547 shares of the energy company’s stock valued at $53,000 after buying an additional 375 shares during the period. Finally, Hantz Financial Services Inc. grew its holdings in shares of Ormat Technologies by 313.2% in the 3rd quarter. Hantz Financial Services Inc. now owns 595 shares of the energy company’s stock valued at $57,000 after buying an additional 451 shares during the period. 95.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on ORA. TD Cowen boosted their price objective on shares of Ormat Technologies from $95.00 to $100.00 and gave the stock a “hold” rating in a research report on Wednesday, November 5th. Barclays boosted their target price on Ormat Technologies from $89.00 to $118.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Oppenheimer reiterated an “outperform” rating and issued a $125.00 price target on shares of Ormat Technologies in a report on Wednesday, November 5th. JPMorgan Chase & Co. boosted their price objective on Ormat Technologies from $99.00 to $111.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Finally, Cowen restated a “hold” rating on shares of Ormat Technologies in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Ormat Technologies has an average rating of “Moderate Buy” and an average price target of $115.44.

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.