Stanley Stern Sells 1,825 Shares of Ormat Technologies, Inc. (NYSE:ORA) Stock

Ormat Technologies, Inc. (NYSE:ORAGet Free Report) Director Stanley Stern sold 1,825 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $66.95, for a total transaction of $122,183.75. Following the transaction, the director now owns 4,835 shares in the company, valued at $323,703.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Ormat Technologies Stock Performance

Shares of ORA stock traded down $1.07 on Monday, hitting $65.12. The company’s stock had a trading volume of 346,994 shares, compared to its average volume of 456,126. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.12 and a current ratio of 1.20. The stock’s 50 day moving average is $65.61 and its 200-day moving average is $67.92. Ormat Technologies, Inc. has a fifty-two week low of $58.73 and a fifty-two week high of $88.64. The company has a market capitalization of $3.93 billion, a PE ratio of 31.14, a PEG ratio of 1.40 and a beta of 0.48.

Ormat Technologies (NYSE:ORAGet Free Report) last released its quarterly earnings results on Wednesday, February 21st. The energy company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.60 by $0.07. Ormat Technologies had a net margin of 15.00% and a return on equity of 5.09%. The business had revenue of $241.30 million for the quarter, compared to the consensus estimate of $239.71 million. During the same period in the prior year, the company posted $0.73 earnings per share. Ormat Technologies’s revenue was up 17.4% compared to the same quarter last year. Equities research analysts expect that Ormat Technologies, Inc. will post 2.3 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were paid a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.48 annualized dividend and a dividend yield of 0.74%. Ormat Technologies’s dividend payout ratio (DPR) is presently 22.97%.

Hedge Funds Weigh In On Ormat Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Harel Insurance Investments & Financial Services Ltd. lifted its position in Ormat Technologies by 12,165.8% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 691,298 shares of the energy company’s stock worth $48,336,000 after purchasing an additional 685,662 shares during the period. BlackRock Inc. lifted its position in Ormat Technologies by 8.2% during the first quarter. BlackRock Inc. now owns 8,528,140 shares of the energy company’s stock worth $722,930,000 after purchasing an additional 643,171 shares during the period. Norges Bank bought a new stake in Ormat Technologies during the fourth quarter worth about $50,016,000. State Street Corp lifted its position in Ormat Technologies by 44.7% during the third quarter. State Street Corp now owns 1,697,465 shares of the energy company’s stock worth $146,321,000 after purchasing an additional 524,366 shares during the period. Finally, Amundi lifted its position in Ormat Technologies by 29.9% during the fourth quarter. Amundi now owns 1,566,912 shares of the energy company’s stock worth $136,253,000 after purchasing an additional 361,083 shares during the period. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ORA has been the topic of a number of recent analyst reports. Oppenheimer lowered their target price on shares of Ormat Technologies from $84.00 to $83.00 and set an “outperform” rating on the stock in a report on Friday, January 19th. TD Cowen decreased their price objective on shares of Ormat Technologies from $74.00 to $70.00 and set a “market perform” rating on the stock in a report on Friday, February 23rd. Finally, Barclays decreased their price objective on shares of Ormat Technologies from $82.00 to $75.00 and set an “equal weight” rating on the stock in a report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to MarketBeat, Ormat Technologies has an average rating of “Hold” and an average target price of $81.00.

Check Out Our Latest Report on ORA

Ormat Technologies Company Profile

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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.

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