Insider Selling: Ormat Technologies (NYSE:ORA) Director Sells $2,025,583.56 in 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 stock was sold at an average price of $112.42, for a total transaction of $2,025,583.56. Following the sale, the director owned 29,650 shares of the company’s stock, valued at $3,333,253. The trade was a 37.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Ormat Technologies Trading Up 0.9%

NYSE:ORA traded up $0.99 during trading hours on Monday, reaching $114.47. 689,322 shares of the stock were exchanged, compared to its average volume of 531,244. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $6.95 billion, a price-to-earnings ratio of 53.24, a PEG ratio of 4.84 and a beta of 0.77. Ormat Technologies, Inc. has a twelve month low of $61.58 and a twelve month high of $115.72. The business has a 50-day moving average of $100.97 and a two-hundred day moving average of $89.12.

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

Ormat Technologies Announces Dividend

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

Hedge Funds Weigh In On Ormat Technologies

Institutional investors have recently modified their holdings of the company. Curio Wealth LLC raised its stake in shares of Ormat Technologies by 29,200.0% in the 2nd quarter. Curio Wealth LLC now owns 293 shares of the energy company’s stock valued at $25,000 after acquiring an additional 292 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Ormat Technologies by 43.8% during the third quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company’s stock worth $35,000 after acquiring an additional 113 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Ormat Technologies by 251.0% in the second 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 during the last quarter. AlphaQuest LLC increased its position in Ormat Technologies by 218.0% during the third quarter. AlphaQuest LLC now owns 547 shares of the energy company’s stock worth $53,000 after acquiring an additional 375 shares during the period. Finally, Hantz Financial Services Inc. boosted its holdings in 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 purchasing an additional 451 shares during the period. Institutional investors own 95.49% of the company’s stock.

Analyst Ratings Changes

ORA has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Ormat Technologies from $99.00 to $111.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Robert W. Baird raised Ormat Technologies from a “neutral” rating to an “outperform” rating and increased their price target for the company from $87.00 to $103.00 in a research note on Wednesday, July 30th. TD Cowen upped their price target on shares of Ormat Technologies from $95.00 to $100.00 and gave the company a “hold” rating in a research report on Wednesday, November 5th. Piper Sandler upgraded shares of Ormat Technologies from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $90.00 to $102.00 in a report on Wednesday, September 17th. Finally, Jefferies Financial Group boosted their price objective on Ormat Technologies from $97.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Ormat Technologies currently has a consensus rating of “Moderate Buy” and a consensus 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.