Ormat Technologies (NYSE:ORA) Insider Jessica Woelfel Sells 136 Shares

Ormat Technologies, Inc. (NYSE:ORA) insider Jessica Woelfel sold 136 shares of the firm’s stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $107.79, for a total transaction of $14,659.44. Following the completion of the transaction, the insider directly owned 7,360 shares of the company’s stock, valued at approximately $793,334.40. The trade was a 1.81% decrease in their ownership of the stock. The sale 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 Tuesday, March 3rd, Jessica Woelfel sold 2,359 shares of Ormat Technologies stock. The stock was sold at an average price of $105.16, for a total transaction of $248,072.44.
• On Monday, March 2nd, Jessica Woelfel sold 869 shares of Ormat Technologies stock. The stock was sold at an average price of $104.59, for a total value of $90,888.71.

Ormat Technologies Stock Performance

Shares of ORA opened at $110.05 on Wednesday. Ormat Technologies, Inc. has a 12-month low of $64.39 and a 12-month high of $132.58. The company has a market cap of $6.70 billion, a PE ratio of 54.75, a price-to-earnings-growth ratio of 4.61 and a beta of 0.84. The company has a current ratio of 0.81, a quick ratio of 0.75 and a debt-to-equity ratio of 0.79. The stock has a 50-day moving average price of $116.59 and a 200-day moving average price of $110.39.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings results on Wednesday, February 25th. The energy company reported $0.67 EPS for the quarter, hitting analysts’ consensus estimates of $0.67. Ormat Technologies had a net margin of 12.52% and a return on equity of 5.21%. The business had revenue of $276.04 million during the quarter, compared to analysts’ expectations of $257.75 million. During the same quarter in the previous year, the company earned $0.67 EPS. The business’s quarterly revenue was up 19.6% compared to the same quarter last year. As a group, equities analysts forecast that Ormat Technologies, Inc. will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

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

Wall Street Analyst Weigh In

ORA has been the subject of a number of recent research reports. UBS Group lowered their price objective on shares of Ormat Technologies from $148.00 to $143.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Piper Sandler lifted their target price on shares of Ormat Technologies from $102.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, December 18th. Robert W. Baird lowered their price target on shares of Ormat Technologies from $143.00 to $130.00 and set an “outperform” rating for the company in a research note on Friday, February 27th. TD Cowen cut their price target on shares of Ormat Technologies from $131.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Finally, Jefferies Financial Group cut Ormat Technologies from a “buy” rating to a “hold” rating and raised their price objective for the company from $125.00 to $130.00 in a research note on Friday, February 13th. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $129.09.

Institutional Trading of Ormat Technologies

Institutional investors have recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd bought a new position in shares of Ormat Technologies in the fourth quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd bought a new stake in Ormat Technologies during the 4th quarter valued at $31,000. Smartleaf Asset Management LLC boosted its position in Ormat Technologies by 245.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 297 shares of the energy company’s stock valued at $33,000 after buying an additional 211 shares during the period. Wolff Wiese Magana LLC purchased a new stake in Ormat Technologies during the 4th quarter valued at $33,000. Finally, Los Angeles Capital Management LLC bought a new stake in Ormat Technologies in the 4th quarter worth $32,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.

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.