Insider Selling: Ormat Technologies, Inc. (NYSE:ORA) VP Sells 3,600 Shares of Stock

Ormat Technologies, Inc. (NYSE:ORA) VP Nir Wolf sold 3,600 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $61.80, for a total transaction of $222,480.00. Following the completion of the transaction, the vice president now owns 1,800 shares in the company, valued at $111,240. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

ORA traded up $0.78 on Monday, hitting $62.72. 1,191 shares of the stock were exchanged, compared to its average volume of 155,087. Ormat Technologies, Inc. has a 12 month low of $45.79 and a 12 month high of $62.17. The company has a quick ratio of 1.41, a current ratio of 1.57 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $3.14 billion, a price-to-earnings ratio of 30.15, a P/E/G ratio of 2.94 and a beta of 1.15.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings data on Monday, May 6th. The energy company reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.01. Ormat Technologies had a net margin of 7.41% and a return on equity of 5.86%. The business had revenue of $199.04 million during the quarter, compared to analysts’ expectations of $183.62 million. During the same quarter in the prior year, the business posted $0.48 earnings per share. Ormat Technologies’s revenue was up 8.2% compared to the same quarter last year. Sell-side analysts anticipate that Ormat Technologies, Inc. will post 1.92 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Monday, May 20th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $0.44 annualized dividend and a yield of 0.70%. Ormat Technologies’s dividend payout ratio is 21.15%.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Strs Ohio bought a new stake in Ormat Technologies during the fourth quarter worth about $52,000. Private Capital Group LLC lifted its position in Ormat Technologies by 28.2% during the first quarter. Private Capital Group LLC now owns 941 shares of the energy company’s stock worth $52,000 after purchasing an additional 207 shares during the period. Psagot Investment House Ltd. lifted its position in Ormat Technologies by 16.5% during the fourth quarter. Psagot Investment House Ltd. now owns 2,303 shares of the energy company’s stock worth $120,000 after purchasing an additional 326 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Ormat Technologies by 15.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,775 shares of the energy company’s stock worth $197,000 after purchasing an additional 506 shares during the period. Finally, Man Group plc bought a new stake in Ormat Technologies during the first quarter worth about $234,000. 75.09% of the stock is owned by institutional investors and hedge funds.

Several equities analysts recently commented on ORA shares. ValuEngine upgraded shares of Ormat Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, March 5th. JPMorgan Chase & Co. downgraded shares of Ormat Technologies from an “overweight” rating to a “neutral” rating and set a $60.00 price target on the stock. in a research note on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $63.33.

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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, New Zealand, and internationally. The company operates through three segments: Electricity, Product, and Other. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity.

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