Ormat Technologies, Inc. (NYSE:ORA – Get Free Report) Director Stanley Stern sold 577 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $130.17, for a total value of $75,108.09. Following the completion of the transaction, the director owned 6,050 shares in the company, valued at approximately $787,528.50. This trade represents a 8.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Ormat Technologies Trading Down 2.9%
NYSE:ORA opened at $131.52 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.02 and a current ratio of 1.07. Ormat Technologies, Inc. has a one year low of $70.42 and a one year high of $138.51. The business’s 50-day simple moving average is $113.73 and its 200 day simple moving average is $114.37. The stock has a market cap of $8.08 billion, a price-to-earnings ratio of 63.84, a price-to-earnings-growth ratio of 5.80 and a beta of 0.80.
Ormat Technologies (NYSE:ORA – Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.30 EPS for the quarter, topping the consensus estimate of $0.92 by $0.38. Ormat Technologies had a return on equity of 6.61% and a net margin of 10.97%.The business had revenue of $403.91 million for the quarter, compared to analysts’ expectations of $349.17 million. During the same quarter in the previous year, the firm posted $0.68 earnings per share. The company’s revenue was up 75.8% compared to the same quarter last year. As a group, sell-side analysts predict that Ormat Technologies, Inc. will post 2.33 earnings per share for the current fiscal year.
Ormat Technologies Dividend Announcement
Analyst Upgrades and Downgrades
Several analysts recently weighed in on ORA shares. Jefferies Financial Group lowered Ormat Technologies from a “buy” rating to a “hold” rating and boosted their price objective for the company from $125.00 to $130.00 in a report on Friday, February 13th. Royal Bank Of Canada started coverage on Ormat Technologies in a report on Tuesday, March 3rd. They issued an “outperform” rating and a $130.00 price objective for the company. Robert W. Baird lowered their price objective on Ormat Technologies from $143.00 to $130.00 and set an “outperform” rating for the company in a report on Friday, February 27th. TD Cowen lowered their price objective on Ormat Technologies from $131.00 to $125.00 and set a “buy” rating for the company in a report on Friday, February 27th. Finally, JPMorgan Chase & Co. boosted their price objective on Ormat Technologies from $106.00 to $123.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Ormat Technologies has a consensus rating of “Moderate Buy” and an average price target of $131.64.
Check Out Our Latest Stock Report on ORA
Hedge Funds Weigh In On Ormat Technologies
Several institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its holdings in shares of Ormat Technologies by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,910,292 shares of the energy company’s stock valued at $211,036,000 after purchasing an additional 43,749 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Ormat Technologies by 6.8% during the fourth quarter. Geode Capital Management LLC now owns 1,611,360 shares of the energy company’s stock valued at $178,033,000 after purchasing an additional 102,864 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Ormat Technologies by 32.7% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,147,863 shares of the energy company’s stock valued at $128,469,000 after purchasing an additional 282,583 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Ormat Technologies by 62.6% during the second quarter. Canada Pension Plan Investment Board now owns 1,073,639 shares of the energy company’s stock valued at $89,928,000 after purchasing an additional 413,384 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Ormat Technologies by 155.8% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 886,526 shares of the energy company’s stock valued at $97,935,000 after purchasing an additional 540,000 shares during the last quarter. 95.49% of the stock is owned by institutional investors.
Ormat Technologies Company Profile
Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company’s core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.
Ormat’s offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.
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