Stanley Stern Sells 1,825 Shares of Ormat Technologies, Inc. (NYSE:ORA) Stock

Ormat Technologies, Inc. (NYSE:ORAGet Free Report) Director Stanley Stern sold 1,825 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $66.95, for a total value of $122,183.75. Following the sale, the director now owns 4,835 shares in the company, valued at $323,703.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Ormat Technologies Stock Performance

Shares of NYSE ORA opened at $63.81 on Wednesday. The company has a 50-day simple moving average of $65.51 and a 200-day simple moving average of $67.77. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.20 and a quick ratio of 1.12. The company has a market cap of $3.85 billion, a PE ratio of 30.53, a price-to-earnings-growth ratio of 1.40 and a beta of 0.48. Ormat Technologies, Inc. has a 12 month low of $58.73 and a 12 month high of $88.64.

Ormat Technologies (NYSE:ORAGet Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The energy company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. The company had revenue of $241.30 million for the quarter, compared to analyst estimates of $239.71 million. Ormat Technologies had a return on equity of 5.09% and a net margin of 15.00%. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.73 EPS. On average, equities analysts anticipate that Ormat Technologies, Inc. will post 2.3 earnings per share for the current year.

Ormat Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend was Tuesday, March 5th. Ormat Technologies’s payout ratio is 22.97%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its stake in Ormat Technologies by 6.6% during the second quarter. BlackRock Inc. now owns 9,093,461 shares of the energy company’s stock worth $731,660,000 after purchasing an additional 565,321 shares during the period. Vanguard Group Inc. increased its holdings in shares of Ormat Technologies by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 5,324,628 shares of the energy company’s stock worth $403,554,000 after buying an additional 39,172 shares during the last quarter. Impax Asset Management Group plc raised its position in shares of Ormat Technologies by 15.0% in the 4th quarter. Impax Asset Management Group plc now owns 2,638,182 shares of the energy company’s stock worth $199,004,000 after buying an additional 343,650 shares during the period. Global Alpha Capital Management Ltd. boosted its holdings in Ormat Technologies by 9.3% in the fourth quarter. Global Alpha Capital Management Ltd. now owns 2,313,856 shares of the energy company’s stock valued at $177,552,000 after acquiring an additional 196,517 shares during the last quarter. Finally, State Street Corp grew its position in Ormat Technologies by 7.6% during the first quarter. State Street Corp now owns 1,947,280 shares of the energy company’s stock valued at $165,071,000 after acquiring an additional 137,486 shares during the period. Institutional investors and hedge funds own 95.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. TD Cowen dropped their target price on shares of Ormat Technologies from $74.00 to $70.00 and set a “market perform” rating for the company in a report on Friday, February 23rd. Barclays cut their price objective on Ormat Technologies from $82.00 to $75.00 and set an “equal weight” rating for the company in a research report on Monday, February 5th. Finally, Oppenheimer lowered their target price on Ormat Technologies from $84.00 to $83.00 and set an “outperform” rating on the stock in a report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $81.00.

View Our Latest Research Report on ORA

About Ormat Technologies

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Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, Guadeloupe, New Zealand, Honduras, and internationally. It operates in three segments: Electricity, Product, and Energy Storage. The Electricity segment develops, builds, owns, and operates geothermal, solar photovoltaic, and recovered energy-based power plants; and sells electricity.

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