Ormat Technologies (NYSE:ORA) Director Sells $237,403.38 in Stock

Ormat Technologies, Inc. (NYSE:ORA – Get Free Report) Director David Granot sold 1,766 shares of the business’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $134.43, for a total transaction of $237,403.38. Following the completion of the sale, the director directly owned 1,766 shares of the company’s stock, valued at approximately $237,403.38. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

David Granot also recently made the following trade(s):

Get Ormat Technologies alerts:

• On Wednesday, May 20th, David Granot sold 1,753 shares of Ormat Technologies stock. The stock was sold at an average price of $132.70, for a total transaction of $232,623.10.

Ormat Technologies Price Performance

Shares of NYSE ORA opened at $133.28 on Friday. The firm has a market cap of $8.19 billion, a PE ratio of 64.70, a PEG ratio of 5.69 and a beta of 0.80. The firm has a fifty day moving average of $115.98 and a 200 day moving average of $115.26. 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 $70.60 and a one year high of $138.51.

Ormat Technologies (NYSE:ORA – Get Free Report) last issued 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. The company had revenue of $403.91 million during the quarter, compared to analyst estimates of $349.17 million. Ormat Technologies had a net margin of 10.97% and a return on equity of 6.61%. The firm’s revenue was up 75.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 EPS. As a group, research analysts predict that Ormat Technologies, Inc. will post 2.35 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Wednesday, May 20th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, May 20th. Ormat Technologies’s payout ratio is presently 23.30%.

Wall Street Analyst Weigh In

ORA has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Ormat Technologies from $106.00 to $123.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. UBS Group boosted their price target on shares of Ormat Technologies from $143.00 to $152.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Jefferies Financial Group lowered shares of Ormat Technologies from a “buy” rating to a “hold” rating and boosted their price target for the stock from $125.00 to $130.00 in a report on Friday, February 13th. Royal Bank Of Canada started coverage on shares of Ormat Technologies in a report on Tuesday, March 3rd. They set an “outperform” rating and a $130.00 target price for the company. Finally, TD Cowen dropped their target price on shares of Ormat Technologies from $131.00 to $125.00 and set a “buy” rating for the company in a report on Friday, February 27th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Ormat Technologies currently has an average rating of “Moderate Buy” and an average target price of $133.18.

View Our Latest Stock Analysis on ORA

Institutional Investors Weigh In On Ormat Technologies

A number of hedge funds have recently modified their holdings of the company. Aster Capital Management DIFC Ltd acquired a new stake in shares of Ormat Technologies during the fourth quarter worth about $26,000. Main Street Group LTD acquired a new stake in shares of Ormat Technologies during the first quarter worth about $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Ormat Technologies during the fourth quarter worth about $31,000. Los Angeles Capital Management LLC acquired a new stake in shares of Ormat Technologies during the fourth quarter worth about $32,000. Finally, Wolff Wiese Magana LLC acquired a new stake in shares of Ormat Technologies during the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Ormat Technologies Company Profile

(Get Free Report)

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.

Featured Articles

• Five stocks we like better than Ormat Technologies
• Workday Validates AI Flywheel: Stock Price Recovery Begins
• HubSpot at 2019 Levels Is an Opportunity—Not a Warning
• Was Decker’s Double Beat a Bullish Signal—Or Mere HOKA’s-Pocus?
• Kiniksa Pharmaceuticals Still Has Room to Run After 100% Rally

Receive News & Ratings for Ormat Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ormat Technologies and related companies with MarketBeat.com's FREE daily email newsletter.