Insider Selling: Ormat Technologies (NYSE:ORA) Insider Sells $531,922.80 in Stock

Ormat Technologies, Inc. (NYSE:ORA) insider Jessica Woelfel sold 5,611 shares of the company’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $94.80, for a total value of $531,922.80. Following the completion of the transaction, the insider directly owned 3,433 shares of the company’s stock, valued at approximately $325,448.40. This trade represents a 62.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Jessica Woelfel also recently made the following trade(s):

• On Friday, August 22nd, Jessica Woelfel sold 692 shares of Ormat Technologies stock. The stock was sold at an average price of $94.57, for a total value of $65,442.44.

Ormat Technologies Stock Performance

NYSE ORA opened at $99.86 on Friday. The firm has a market cap 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 has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.77. The business has a 50-day moving average price of $91.38 and a 200-day moving average price of $81.80. Ormat Technologies, Inc. has a twelve month low of $61.58 and a twelve month high of $101.15.

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

Ormat Technologies Dividend Announcement

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

Institutional Investors Weigh In On Ormat Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas purchased a new stake in Ormat Technologies during the first quarter valued at approximately $593,000. Empower Advisory Group LLC raised its position in Ormat Technologies by 6.5% during the first quarter. Empower Advisory Group LLC now owns 215,327 shares of the energy company’s stock valued at $15,239,000 after purchasing an additional 13,061 shares during the period. Bayforest Capital Ltd raised its position in Ormat Technologies by 2,293.3% during the first quarter. Bayforest Capital Ltd now owns 6,773 shares of the energy company’s stock valued at $479,000 after purchasing an additional 6,490 shares during the period. Voya Investment Management LLC raised its position in Ormat Technologies by 19.2% during the first quarter. Voya Investment Management LLC now owns 96,604 shares of the energy company’s stock valued at $6,837,000 after purchasing an additional 15,532 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Ormat Technologies by 273,109.4% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 956,233 shares of the energy company’s stock worth $67,673,000 after buying an additional 955,883 shares during the period. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ORA has been the subject of a number of research reports. Piper Sandler raised Ormat Technologies from a “neutral” rating to an “overweight” rating and increased their price target for the company from $90.00 to $102.00 in a research note on Wednesday, September 17th. Robert W. Baird raised Ormat Technologies from a “neutral” rating to an “outperform” rating and increased their price target for the company from $87.00 to $103.00 in a research note on Wednesday, July 30th. JPMorgan Chase & Co. increased their price target on Ormat Technologies from $75.00 to $85.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Cowen reissued a “hold” rating on shares of Ormat Technologies in a research note on Friday, August 8th. Finally, TD Cowen increased their price target on Ormat Technologies from $76.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average 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.