Ormat Technologies (NYSE:ORA) Director Sells $38,392.00 in Stock

Ormat Technologies, Inc. (NYSE:ORA) Director Stanley Stern sold 400 shares of the company’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $95.98, for a total transaction of $38,392.00. Following the completion of the transaction, the director owned 4,861 shares of the company’s stock, valued at $466,558.78. This trade represents a 7.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Stanley Stern also recently made the following trade(s):

• On Friday, September 26th, Stanley Stern sold 229 shares of Ormat Technologies stock. The shares were sold at an average price of $94.83, for a total transaction of $21,716.07.
• On Wednesday, August 27th, Stanley Stern sold 876 shares of Ormat Technologies stock. The shares were sold at an average price of $91.98, for a total transaction of $80,574.48.

Ormat Technologies Trading Down 0.5%

NYSE ORA opened at $99.86 on Friday. Ormat Technologies, Inc. has a 12 month low of $61.58 and a 12 month high of $101.15. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.70 and a quick ratio of 0.64. The company has a market capitalization of $6.06 billion, a price-to-earnings ratio of 46.44, a price-to-earnings-growth ratio of 4.67 and a beta of 0.69. The company’s fifty day moving average price is $91.38 and its two-hundred day moving average price is $81.80.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings data on Wednesday, August 6th. The energy company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.11. Ormat Technologies had a net margin of 14.49% and a return on equity of 5.47%. The firm had revenue of $234.02 million for the quarter, compared to the consensus estimate of $225.26 million. During the same period in the prior year, the firm posted $0.37 EPS. The firm’s revenue was up 9.9% compared to the same quarter last year. As a group, research analysts predict that Ormat Technologies, Inc. will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Wednesday, August 20th. Ormat Technologies’s dividend payout ratio is 22.33%.

Institutional Trading of Ormat Technologies

Large investors have recently modified their holdings of the company. Curio Wealth LLC increased its holdings 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 worth $25,000 after acquiring an additional 292 shares during the period. EverSource Wealth Advisors LLC increased its holdings 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 worth $44,000 after acquiring an additional 374 shares during the period. UMB Bank n.a. increased its holdings in shares of Ormat Technologies by 42.6% in the 1st quarter. UMB Bank n.a. now owns 880 shares of the energy company’s stock worth $62,000 after acquiring an additional 263 shares during the period. GAMMA Investing LLC increased its holdings in shares of Ormat Technologies by 57.4% in the 2nd quarter. GAMMA Investing LLC now owns 886 shares of the energy company’s stock worth $74,000 after acquiring an additional 323 shares during the period. Finally, CWM LLC increased its holdings in shares of Ormat Technologies by 294.2% in the 1st quarter. CWM LLC now owns 887 shares of the energy company’s stock worth $63,000 after acquiring an additional 662 shares during the period. Institutional investors and hedge funds own 95.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ORA shares. Robert W. Baird upgraded shares of Ormat Technologies from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $87.00 to $103.00 in a research note on Wednesday, July 30th. UBS Group increased their target price on shares of Ormat Technologies from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. TD Cowen increased their target price on shares of Ormat Technologies from $76.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, August 8th. Piper Sandler raised shares of Ormat Technologies from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $90.00 to $102.00 in a report on Wednesday, September 17th. Finally, Baird R W raised shares of Ormat Technologies from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $94.50.

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.