Jessica Woelfel Sells 721 Shares of Ormat Technologies (NYSE:ORA) Stock

Ormat Technologies, Inc. (NYSE:ORA) insider Jessica Woelfel sold 721 shares of Ormat Technologies stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $115.00, for a total transaction of $82,915.00. Following the transaction, the insider owned 3,433 shares of the company’s stock, valued at $394,795. The trade was a 17.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Jessica Woelfel also recently made the following trade(s):

• On Friday, November 7th, Jessica Woelfel sold 368 shares of Ormat Technologies stock. The stock was sold at an average price of $112.36, for a total transaction of $41,348.48.
• On Monday, September 29th, Jessica Woelfel sold 5,611 shares of Ormat Technologies stock. The shares were sold at an average price of $94.80, for a total value of $531,922.80.
• On Friday, August 22nd, Jessica Woelfel sold 692 shares of Ormat Technologies stock. The stock was sold at an average price of $94.57, for a total value of $65,442.44.

Ormat Technologies Stock Performance

Shares of ORA stock traded up $0.99 during trading hours on Monday, reaching $114.47. The company had a trading volume of 689,322 shares, compared to its average volume of 531,244. 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 business has a fifty day moving average price of $100.97 and a 200-day moving average price of $89.12. Ormat Technologies, Inc. has a one year low of $61.58 and a one year high of $115.72. The firm has a market cap of $6.95 billion, a PE ratio of 53.24, a price-to-earnings-growth ratio of 4.84 and a beta of 0.77.

Ormat Technologies (NYSE:ORA) last issued its earnings results on Monday, November 3rd. The energy company reported $0.41 earnings per share (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 for the quarter, compared to analysts’ expectations of $235.03 million. During the same quarter last year, the company posted $0.36 earnings per share. The firm’s quarterly revenue was up 17.9% on a year-over-year basis. Ormat Technologies has set its FY 2025 guidance at EPS. Sell-side analysts predict that Ormat Technologies, Inc. will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 0.4%. Ormat Technologies’s payout ratio is presently 22.02%.

Analysts Set New Price Targets

Several research firms have recently commented on ORA. Barclays upped their price target on shares of Ormat Technologies from $89.00 to $118.00 and gave the company an “overweight” rating in a research report on Friday. Jefferies Financial Group raised their price objective on Ormat Technologies from $97.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Piper Sandler upgraded shares of Ormat Technologies from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $90.00 to $102.00 in a research note on Wednesday, September 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ormat Technologies in a report on Wednesday, October 8th. Finally, UBS Group raised their price target on Ormat Technologies from $105.00 to $135.00 and gave the company a “buy” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $115.44.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Teacher Retirement System of Texas purchased a new stake in shares of Ormat Technologies during the 1st quarter worth $593,000. Empower Advisory Group LLC raised its stake in shares of Ormat Technologies by 6.5% during the 1st quarter. Empower Advisory Group LLC now owns 215,327 shares of the energy company’s stock worth $15,239,000 after acquiring an additional 13,061 shares in the last quarter. Bayforest Capital Ltd boosted its stake in Ormat Technologies by 2,293.3% in the first quarter. Bayforest Capital Ltd now owns 6,773 shares of the energy company’s stock valued at $479,000 after acquiring an additional 6,490 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Ormat Technologies during the second quarter worth $358,000. Finally, Voya Investment Management LLC lifted its holdings in shares of Ormat Technologies by 19.2% during the 1st quarter. Voya Investment Management LLC now owns 96,604 shares of the energy company’s stock valued at $6,837,000 after purchasing an additional 15,532 shares during the last quarter. 95.49% of the stock is currently owned by institutional investors.

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.