Jessica Woelfel Sells 869 Shares of Ormat Technologies (NYSE:ORA) Stock

Ormat Technologies, Inc. (NYSE:ORA) insider Jessica Woelfel sold 869 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $104.59, for a total value of $90,888.71. Following the sale, the insider directly owned 5,792 shares in the company, valued at approximately $605,785.28. The trade was a 13.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, March 3rd, Jessica Woelfel sold 2,359 shares of Ormat Technologies stock. The shares were sold at an average price of $105.16, for a total value of $248,072.44.

Ormat Technologies Price Performance

NYSE ORA opened at $107.88 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.81 and a quick ratio of 0.75. The firm has a market capitalization of $6.56 billion, a price-to-earnings ratio of 53.67, a price-to-earnings-growth ratio of 4.45 and a beta of 0.84. The company has a 50 day simple moving average of $117.97 and a 200-day simple moving average of $108.59. Ormat Technologies, Inc. has a 52-week low of $64.39 and a 52-week high of $132.58.

Ormat Technologies (NYSE:ORA) last issued its earnings results on Wednesday, February 25th. The energy company reported $0.67 earnings per share for the quarter, hitting the consensus estimate of $0.67. The company had revenue of $276.04 million for the quarter, compared to analyst estimates of $257.75 million. Ormat Technologies had a return on equity of 5.21% and a net margin of 12.52%.The business’s revenue was up 19.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 EPS. Equities research analysts predict that Ormat Technologies, Inc. will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, March 10th. Ormat Technologies’s dividend payout ratio is currently 23.88%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ORA. Barclays lifted their price objective on shares of Ormat Technologies from $108.00 to $123.00 and gave the stock an “overweight” rating in a research note on Monday. TD Cowen lowered their target price on shares of Ormat Technologies from $131.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Citigroup boosted their price target on Ormat Technologies from $110.00 to $128.00 and gave the company a “neutral” rating in a research note on Wednesday, February 18th. Piper Sandler increased their price target on Ormat Technologies from $102.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, December 18th. Finally, Jefferies Financial Group cut Ormat Technologies from a “buy” rating to a “hold” rating and lifted their price objective for the company from $125.00 to $130.00 in a report on Friday, February 13th. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $129.09.

Institutional Trading of Ormat Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of ORA. Aster Capital Management DIFC Ltd bought a new stake in shares of Ormat Technologies in the 4th quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Ormat Technologies in the fourth quarter valued at $31,000. Los Angeles Capital Management LLC bought a new position in shares of Ormat Technologies during the 4th quarter worth $32,000. Wolff Wiese Magana LLC purchased a new stake in Ormat Technologies in the 4th quarter worth about $33,000. Finally, Smartleaf Asset Management LLC increased its stake in shares of Ormat Technologies by 245.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 297 shares of the energy company’s stock worth $33,000 after purchasing an additional 211 shares in the last quarter. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Ormat Technologies Company Profile

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.