David Granot Sells 1,753 Shares of Ormat Technologies (NYSE:ORA) Stock

Ormat Technologies, Inc. (NYSE:ORA) Director David Granot sold 1,753 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $132.70, for a total value of $232,623.10. Following the completion of the sale, the director directly owned 1,766 shares in the company, valued at approximately $234,348.20. The trade was a 49.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Thursday, May 21st, David Granot sold 1,766 shares of Ormat Technologies stock. The shares were sold at an average price of $134.43, for a total value of $237,403.38.

Ormat Technologies Trading Up 1.5%

Shares of NYSE ORA traded up $1.95 during midday trading on Thursday, hitting $133.73. The stock had a trading volume of 543,646 shares, compared to its average volume of 1,073,189. The company has a market capitalization of $8.22 billion, a price-to-earnings ratio of 64.92, a PEG ratio of 5.62 and a beta of 0.80. Ormat Technologies, Inc. has a 1-year low of $70.42 and a 1-year high of $138.51. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.87. The company has a fifty day moving average price of $115.48 and a 200 day moving average price of $115.13.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.38. The business had revenue of $403.91 million for the quarter, compared to analyst estimates of $349.17 million. Ormat Technologies had a return on equity of 6.61% and a net margin of 10.97%.The company’s revenue was up 75.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.68 EPS. On average, analysts predict that Ormat Technologies, Inc. will post 2.35 earnings per share for the current year.

Ormat Technologies Dividend Announcement

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

Wall Street Analysts Forecast Growth

ORA has been the topic of several research analyst reports. UBS Group lifted their price objective on Ormat Technologies from $143.00 to $152.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ormat Technologies in a research note on Tuesday, April 21st. Piper Sandler lifted their price objective on Ormat Technologies from $125.00 to $142.00 and gave the company an “overweight” rating in a research note on Monday. Citigroup lifted their price objective on Ormat Technologies from $110.00 to $128.00 and gave the company a “neutral” rating in a research note on Wednesday, February 18th. Finally, TD Cowen reduced their price target on Ormat Technologies from $131.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $133.18.

Hedge Funds Weigh In On Ormat Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd acquired a new position in Ormat Technologies during the 4th quarter worth approximately $26,000. Main Street Group LTD acquired a new position in Ormat Technologies during the 1st quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd acquired a new position in Ormat Technologies during the 4th quarter worth approximately $31,000. Los Angeles Capital Management LLC acquired a new position in Ormat Technologies during the 4th quarter worth approximately $32,000. Finally, Wolff Wiese Magana LLC acquired a new position in Ormat Technologies during the 4th quarter worth approximately $33,000. 95.49% of the stock is owned by institutional investors and hedge funds.

About Ormat Technologies

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.