Ormat Technologies Inc. (NYSE:ORA) shares hit a new 52-week high during trading on Monday . The stock traded as high as $45.38 and last traded at $45.17, with a volume of 47,928 shares trading hands. The stock had previously closed at $44.86.

Several research analysts have commented on ORA shares. Zacks Investment Research downgraded shares of Ormat Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, April 27th. JPMorgan Chase & Co. downgraded shares of Ormat Technologies from an “overweight” rating to a “neutral” rating and set a $43.00 price objective for the company. in a research report on Friday, May 6th. They noted that the move was a valuation call.

The company has a market cap of $2.23 billion and a PE ratio of 16.15. The firm has a 50 day moving average price of $43.44 and a 200-day moving average price of $40.22.

Ormat Technologies (NYSE:ORA) last released its earnings results on Wednesday, May 4th. The company reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.24. The company had revenue of $151.60 million for the quarter, compared to the consensus estimate of $136.66 million. During the same period in the prior year, the company earned $0.21 earnings per share. The firm’s revenue was up 26.1% on a year-over-year basis. Equities analysts expect that Ormat Technologies Inc. will post $1.90 EPS for the current year.

In other news, VP Shlomi Argas sold 6,344 shares of the stock in a transaction that occurred on Wednesday, June 8th. The shares were sold at an average price of $44.60, for a total transaction of $282,942.40. Following the completion of the transaction, the vice president now directly owns 6,344 shares of the company’s stock, valued at approximately $282,942.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bronicki Investments Ltd. sold 41,284 shares of the stock in a transaction that occurred on Sunday, May 29th. The shares were sold at an average price of $43.30, for a total transaction of $1,787,597.20. Following the transaction, the insider now directly owns 3,526,959 shares of the company’s stock, valued at $152,717,324.70. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have added to or reduced their stakes in ORA. Russell Frank Co increased its position in Ormat Technologies by 1,663.0% in the fourth quarter. Russell Frank Co now owns 41,024 shares of the company’s stock valued at $1,500,000 after buying an additional 38,697 shares during the period. State Board of Administration of Florida Retirement System increased its position in Ormat Technologies by 57.9% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 49,855 shares of the company’s stock valued at $1,818,000 after buying an additional 18,282 shares during the period. Nationwide Fund Advisors increased its position in Ormat Technologies by 1.1% in the fourth quarter. Nationwide Fund Advisors now owns 38,881 shares of the company’s stock valued at $1,418,000 after buying an additional 433 shares during the period. California State Teachers Retirement System increased its position in Ormat Technologies by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 68,978 shares of the company’s stock valued at $2,516,000 after buying an additional 1,144 shares during the period. Finally, Rhumbline Advisers increased its position in Ormat Technologies by 3.5% in the fourth quarter. Rhumbline Advisers now owns 44,139 shares of the company’s stock valued at $1,610,000 after buying an additional 1,485 shares during the period.

Ormat Technologies, Inc is engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy-based power plants. The Company’s equipment manufacturing operations are located in Israel. The Company conducts its business activities in two business segments: Electricity segment and Product segment.

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