Ormat Technologies (NYSE:ORA) Director Ravit Barniv Sells 1,753 Shares of Stock

Ormat Technologies, Inc. (NYSE:ORA) Director Ravit Barniv sold 1,753 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $112.54, for a total transaction of $197,282.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Ormat Technologies Stock Performance

NYSE ORA opened at $114.47 on Tuesday. The firm’s fifty day moving average price is $100.97 and its two-hundred day moving average price is $89.12. The stock has a market cap of $6.95 billion, a PE ratio of 53.24, a PEG ratio of 4.84 and a beta of 0.77. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.64 and a current ratio of 0.70. Ormat Technologies, Inc. has a fifty-two week low of $61.58 and a fifty-two week high of $115.72.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings data on Monday, November 3rd. The energy company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.04. The company had revenue of $249.73 million for the quarter, compared to the consensus estimate of $235.03 million. Ormat Technologies had a return on equity of 5.47% and a net margin of 14.49%.Ormat Technologies’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter last year, the business posted $0.36 EPS. Ormat Technologies has set its FY 2025 guidance at EPS. On average, equities analysts expect that Ormat Technologies, Inc. will post 1.94 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, November 17th. Ormat Technologies’s dividend payout ratio (DPR) is presently 22.02%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ORA shares. Roth Capital reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Ormat Technologies in a research note on Wednesday, November 5th. UBS Group boosted their target price on shares of Ormat Technologies from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Friday. JPMorgan Chase & Co. upped their price target on shares of Ormat Technologies from $99.00 to $111.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Piper Sandler raised shares of Ormat Technologies from a “neutral” rating to an “overweight” rating and raised their price target for the company from $90.00 to $102.00 in a research note on Wednesday, September 17th. Finally, Baird R W raised shares of Ormat Technologies from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.44.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank acquired a new stake in Ormat Technologies during the second quarter worth approximately $56,458,000. Canada Pension Plan Investment Board boosted its holdings in shares of Ormat Technologies by 7,951.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 660,255 shares of the energy company’s stock worth $46,726,000 after buying an additional 652,055 shares in the last quarter. Groupama Asset Managment acquired a new stake in shares of Ormat Technologies during the 2nd quarter worth approximately $41,880,000. Dimensional Fund Advisors LP increased its stake in shares of Ormat Technologies by 19.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,890,235 shares of the energy company’s stock valued at $133,770,000 after acquiring an additional 303,756 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Ormat Technologies during the 2nd quarter valued at $18,310,000. Institutional investors and hedge funds own 95.49% of the company’s stock.

About Ormat Technologies

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.