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

ORA has been the topic of a number of research reports. Zacks Investment Research raised shares of Ormat Technologies from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research report on Tuesday, May 10th. JPMorgan Chase & Co. lowered shares of Ormat Technologies from an “overweight” rating to a “neutral” rating and set a $43.00 price objective on the stock. in a research report on Friday, May 6th. They noted that the move was a valuation call.

The stock has a market cap of $2.21 billion and a PE ratio of 16.00. The stock has a 50 day moving average of $43.53 and a 200-day moving average of $40.37.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Wednesday, May 4th. The company reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.24. During the same quarter in the previous year, the firm posted $0.21 EPS. The business had revenue of $151.60 million for the quarter, compared to analysts’ expectations of $136.66 million. Ormat Technologies’s revenue was up 26.1% on a year-over-year basis. On average, equities research analysts anticipate that Ormat Technologies Inc. will post $1.90 EPS for the current fiscal year.

In other Ormat Technologies news, Director Dan Falk sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $43.99, for a total value of $329,925.00. Following the completion of the transaction, the director now directly owns 7,500 shares of the company’s stock, valued at $329,925. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bronicki Investments Ltd. sold 41,284 shares of the business’s stock in a transaction that occurred on Sunday, May 29th. The shares were sold at an average price of $43.30, for a total value of $1,787,597.20. Following the completion of 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 recently made changes to their positions in ORA. Morgan Stanley increased its position in shares of Ormat Technologies by 47.6% in the fourth quarter. Morgan Stanley now owns 28,498 shares of the company’s stock worth $1,039,000 after buying an additional 9,188 shares during the last quarter. GSA Capital Partners LLP boosted its stake in Ormat Technologies by 133.7% in the fourth quarter. GSA Capital Partners LLP now owns 34,340 shares of the company’s stock worth $1,252,000 after buying an additional 19,649 shares during the period. New York State Common Retirement Fund boosted its stake in Ormat Technologies by 3.2% in the fourth quarter. New York State Common Retirement Fund now owns 35,100 shares of the company’s stock worth $1,280,000 after buying an additional 1,100 shares during the period. Rhumbline Advisers boosted its stake in Ormat Technologies by 3.5% in the fourth quarter. Rhumbline Advisers now owns 44,139 shares of the company’s stock worth $1,610,000 after buying an additional 1,485 shares during the period. Finally, California State Teachers Retirement System boosted its stake 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 worth $2,516,000 after buying an additional 1,144 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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