Ravit Barniv Sells 1,753 Shares of Ormat Technologies (NYSE:ORA) Stock

Ormat Technologies, Inc. (NYSE:ORA) Director Ravit Barniv sold 1,753 shares of the business’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $112.54, for a total transaction of $197,282.62. The sale was disclosed in a document filed with the SEC, which is available at this link.

Ormat Technologies Stock Performance

NYSE ORA traded up $0.99 on Monday, reaching $114.47. The stock had a trading volume of 689,322 shares, compared to its average volume of 531,244. Ormat Technologies, Inc. has a 12-month low of $61.58 and a 12-month high of $115.72. 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 has a market cap of $6.95 billion, a P/E ratio of 53.24, a price-to-earnings-growth ratio of 4.84 and a beta of 0.77. The business’s 50-day moving average price is $100.97 and its 200 day moving average price is $89.12.

Ormat Technologies (NYSE:ORA) last released its earnings results on Monday, November 3rd. The energy company reported $0.41 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 company had revenue of $249.73 million during the quarter, compared to analysts’ expectations of $235.03 million. During the same quarter last year, the business earned $0.36 EPS. The business’s revenue was up 17.9% on a year-over-year basis. Ormat Technologies has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Ormat Technologies, Inc. will post 1.94 earnings per share for the current year.

Ormat Technologies Announces Dividend

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

Wall Street Analysts Forecast Growth

ORA has been the subject of several research reports. Cowen reaffirmed a “hold” rating on shares of Ormat Technologies in a report on Wednesday, November 5th. JPMorgan Chase & Co. raised their price target on Ormat Technologies from $99.00 to $111.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Baird R W upgraded Ormat Technologies from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 30th. Barclays boosted their price target on shares of Ormat Technologies from $89.00 to $118.00 and gave the company an “overweight” rating in a report on Friday. Finally, Roth Capital reissued a “buy” rating and set a $125.00 target price on shares of Ormat Technologies in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $115.44.

Institutional Trading of Ormat Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in ORA. Curio Wealth LLC grew its holdings in Ormat Technologies by 29,200.0% during the second quarter. Curio Wealth LLC now owns 293 shares of the energy company’s stock valued at $25,000 after purchasing an additional 292 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of Ormat Technologies by 43.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company’s stock valued at $35,000 after purchasing an additional 113 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Ormat Technologies by 251.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 523 shares of the energy company’s stock valued at $44,000 after purchasing an additional 374 shares in the last quarter. AlphaQuest LLC boosted its position in Ormat Technologies by 218.0% in the third quarter. AlphaQuest LLC now owns 547 shares of the energy company’s stock valued at $53,000 after buying an additional 375 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its stake in shares of Ormat Technologies by 313.2% in the third 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 in the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

About Ormat Technologies

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.