Insider Selling: Ormat Technologies (NYSE:ORA) Director Sells 229 Shares of Stock

Ormat Technologies, Inc. (NYSE:ORA) Director Stanley Stern sold 229 shares of the firm’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $94.83, for a total transaction of $21,716.07. Following the transaction, the director directly owned 5,261 shares in the company, valued at approximately $498,900.63. This represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Tuesday, September 30th, Stanley Stern sold 400 shares of Ormat Technologies stock. The stock was sold at an average price of $95.98, for a total transaction of $38,392.00.
• 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 Price Performance

ORA stock opened at $96.28 on Wednesday. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.77. Ormat Technologies, Inc. has a 12 month low of $61.58 and a 12 month high of $96.92. The firm has a market cap of $5.85 billion, a P/E ratio of 44.78, a P/E/G ratio of 4.44 and a beta of 0.69. The company’s 50-day moving average price is $90.97 and its two-hundred day moving average price is $81.48.

Ormat Technologies (NYSE:ORA) last released its earnings results on Wednesday, August 6th. The energy company reported $0.48 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $225.26 million. During the same period last year, the firm earned $0.37 EPS. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, analysts anticipate that Ormat Technologies, Inc. will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, August 20th. Ormat Technologies’s dividend payout ratio (DPR) is currently 22.33%.

Analysts Set New Price Targets

ORA has been the topic of several recent analyst reports. Oppenheimer reissued an “outperform” rating and issued a $100.00 target price on shares of Ormat Technologies in a report on Friday, August 8th. Piper Sandler raised shares of Ormat Technologies from a “neutral” rating to an “overweight” rating and raised their target price for the company from $90.00 to $102.00 in a report on Wednesday, September 17th. Baird R W raised shares of Ormat Technologies from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 30th. Roth Capital reaffirmed a “buy” rating and set a $98.00 price target (up from $88.00) on shares of Ormat Technologies in a report on Tuesday, August 5th. Finally, UBS Group lifted their price target on shares of Ormat Technologies from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Ormat Technologies presently has an average rating of “Moderate Buy” and an average target price of $94.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in shares of Ormat Technologies by 19.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,890,235 shares of the energy company’s stock worth $133,770,000 after purchasing an additional 303,756 shares during the period. Geode Capital Management LLC lifted its position in shares of Ormat Technologies by 3.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,467,156 shares of the energy company’s stock worth $122,902,000 after purchasing an additional 48,038 shares during the period. Van Berkom & Associates Inc. lifted its position in shares of Ormat Technologies by 2.7% in the 1st quarter. Van Berkom & Associates Inc. now owns 1,280,026 shares of the energy company’s stock worth $90,587,000 after purchasing an additional 33,719 shares during the period. Canada Pension Plan Investment Board lifted its position in shares of Ormat Technologies by 62.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,073,639 shares of the energy company’s stock worth $89,928,000 after purchasing an additional 413,384 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Ormat Technologies by 273,109.4% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 956,233 shares of the energy company’s stock worth $67,673,000 after purchasing an additional 955,883 shares during the period. 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.