Ormat Technologies (NYSE:ORA) Director David Granot Sells 1,766 Shares of Stock

Ormat Technologies, Inc. (NYSE:ORA) Director David Granot sold 1,766 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $134.43, for a total value of $237,403.38. Following the completion of the sale, the director directly owned 1,766 shares of the company’s stock, valued at $237,403.38. This represents a 50.00% 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.

David Granot also recently made the following trade(s):

• On Wednesday, May 20th, David Granot sold 1,753 shares of Ormat Technologies stock. The shares were sold at an average price of $132.70, for a total value of $232,623.10.

Ormat Technologies Stock Up 1.5%

Shares of ORA opened at $133.73 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.02 and a current ratio of 1.07. Ormat Technologies, Inc. has a 52 week low of $70.42 and a 52 week high of $138.51. The firm has a market capitalization of $8.22 billion, a price-to-earnings ratio of 64.92, a PEG ratio of 5.62 and a beta of 0.80. The business’s fifty day moving average price is $115.48 and its two-hundred day moving average price is $115.13.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.38. Ormat Technologies had a return on equity of 6.61% and a net margin of 10.97%.The firm had revenue of $403.91 million for the quarter, compared to analyst estimates of $349.17 million. During the same period last year, the firm posted $0.68 earnings per share. The business’s revenue for the quarter was up 75.8% on a year-over-year basis. On average, analysts predict that Ormat Technologies, Inc. will post 2.35 earnings per share for the current year.

Ormat Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 20th will be given a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $0.48 annualized dividend and a yield of 0.4%. Ormat Technologies’s payout ratio is currently 23.30%.

Institutional Investors Weigh In On Ormat Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Aster Capital Management DIFC Ltd acquired a new stake in Ormat Technologies in the 4th quarter valued at $26,000. Main Street Group LTD acquired a new stake in Ormat Technologies during the 1st quarter worth $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in Ormat Technologies during the 4th quarter worth $31,000. Los Angeles Capital Management LLC acquired a new stake in Ormat Technologies during the 4th quarter worth $32,000. Finally, Wolff Wiese Magana LLC acquired a new stake in Ormat Technologies during the 4th quarter worth $33,000. Institutional investors and hedge funds own 95.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ORA shares. JPMorgan Chase & Co. boosted their price objective on Ormat Technologies from $106.00 to $123.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Jefferies Financial Group cut Ormat Technologies from a “buy” rating to a “hold” rating and upped their price objective for the stock from $125.00 to $130.00 in a report on Friday, February 13th. Barclays raised their price target on Ormat Technologies from $123.00 to $126.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. TD Cowen decreased their price objective on shares of Ormat Technologies from $131.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Finally, Robert W. Baird dropped their price objective on Ormat Technologies from $143.00 to $130.00 and set an “outperform” rating for the company in a report on Friday, February 27th. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $133.18.

About Ormat Technologies

Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company’s core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.

Ormat’s offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.