Insider Selling: Ormat Technologies, Inc. (NYSE:ORA) Director Sells $65,755.65 in Stock

Ormat Technologies, Inc. (NYSE:ORA) Director Michal Marom sold 895 shares of Ormat Technologies stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $73.47, for a total transaction of $65,755.65. Following the sale, the director now directly owns 3,080 shares of the company’s stock, valued at $226,287.60. The trade was a 22.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Ormat Technologies Price Performance

Shares of NYSE ORA opened at $74.15 on Thursday. The business has a fifty day moving average price of $71.93 and a two-hundred day moving average price of $70.87. The stock has a market capitalization of $4.49 billion, a PE ratio of 37.83, a P/E/G ratio of 3.18 and a beta of 0.65. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87. Ormat Technologies, Inc. has a fifty-two week low of $61.58 and a fifty-two week high of $84.30.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.10. Ormat Technologies had a return on equity of 5.27% and a net margin of 13.33%. The business had revenue of $229.76 million during the quarter, compared to the consensus estimate of $228.33 million. During the same quarter in the previous year, the firm earned $0.64 earnings per share. Ormat Technologies’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, equities 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 declared a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 21st were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date was Wednesday, May 21st. Ormat Technologies’s dividend payout ratio (DPR) is presently 23.30%.

Analyst Ratings Changes

Several brokerages have issued reports on ORA. Baird R W upgraded shares of Ormat Technologies to a “hold” rating in a research report on Thursday, March 13th. Robert W. Baird started coverage on Ormat Technologies in a report on Thursday, March 13th. They set a “neutral” rating and a $81.00 price target for the company. Jefferies Financial Group boosted their price target on Ormat Technologies from $78.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, March 25th. JPMorgan Chase & Co. increased their price objective on Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, February 28th. Finally, Barclays boosted their target price on shares of Ormat Technologies from $75.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, May 8th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Ormat Technologies presently has a consensus rating of “Hold” and a consensus target price of $83.29.

Institutional Trading of Ormat Technologies

Large investors have recently made changes to their positions in the company. Stuart Chaussee & Associates Inc. acquired a new position in Ormat Technologies during the fourth quarter valued at approximately $34,000. AlphaQuest LLC raised its holdings in shares of Ormat Technologies by 4,691.7% during the 4th quarter. AlphaQuest LLC now owns 575 shares of the energy company’s stock worth $39,000 after buying an additional 563 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Ormat Technologies by 42.6% during the 1st quarter. UMB Bank n.a. now owns 880 shares of the energy company’s stock worth $62,000 after buying an additional 263 shares in the last quarter. Signaturefd LLC lifted its position in shares of Ormat Technologies by 60.6% during the 1st quarter. Signaturefd LLC now owns 890 shares of the energy company’s stock worth $63,000 after buying an additional 336 shares during the last quarter. Finally, CWM LLC lifted its position in shares of Ormat Technologies by 294.2% during the 1st quarter. CWM LLC now owns 887 shares of the energy company’s stock worth $63,000 after buying an additional 662 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

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.