Ormat Technologies (NYSE:ORA) Director Stanley Stern Sells 250 Shares of Stock

Ormat Technologies, Inc. (NYSE:ORA) Director Stanley Stern sold 250 shares of Ormat Technologies stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $138.42, for a total transaction of $34,605.00. Following the sale, the director owned 5,800 shares of the company’s stock, valued at approximately $802,836. The trade was a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Stanley Stern also recently made the following trade(s):

• On Friday, May 15th, Stanley Stern sold 577 shares of Ormat Technologies stock. The shares were sold at an average price of $130.17, for a total transaction of $75,108.09.

Ormat Technologies Price Performance

ORA stock opened at $136.88 on Friday. The firm has a 50 day moving average of $118.80 and a 200-day moving average of $116.15. Ormat Technologies, Inc. has a 12-month low of $73.05 and a 12-month high of $141.62. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.87. The company has a market cap of $8.41 billion, a price-to-earnings ratio of 66.45, a PEG ratio of 5.87 and a beta of 0.80.

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

Ormat Technologies Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ORA shares. Weiss Ratings restated a “hold (c)” rating on shares of Ormat Technologies in a research report on Tuesday, April 21st. Piper Sandler lifted their price objective on Ormat Technologies from $125.00 to $142.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Citigroup lifted their price objective on Ormat Technologies from $110.00 to $128.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 18th. UBS Group lifted their price objective on Ormat Technologies from $143.00 to $152.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Finally, TD Cowen cut their price objective on Ormat Technologies from $131.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $133.18.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Aster Capital Management DIFC Ltd acquired a new position in Ormat Technologies in the 4th quarter valued at $26,000. Main Street Group LTD acquired a new position in Ormat Technologies in the 1st quarter valued at $29,000. Caitong International Asset Management Co. Ltd acquired a new position in Ormat Technologies in the 4th quarter valued at $31,000. Los Angeles Capital Management LLC acquired a new position in Ormat Technologies in the 4th quarter valued at $32,000. Finally, Wolff Wiese Magana LLC acquired a new position in Ormat Technologies in the 4th quarter valued at $33,000. 95.49% of the stock is currently owned by institutional investors and hedge funds.

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.