Ormat Technologies (NYSE:ORA) Director Michal Marom Sells 3,080 Shares

Ormat Technologies, Inc. (NYSE:ORA) Director Michal Marom sold 3,080 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $130.97, for a total value of $403,387.60. Following the sale, the director owned 1,766 shares in the company, valued at approximately $231,293.02. This trade represents a 63.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Ormat Technologies Trading Up 1.5%

Shares of NYSE ORA opened at $133.73 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.02 and a current ratio of 1.07. The business’s 50 day moving average price is $115.48 and its 200-day moving average price is $115.13. Ormat Technologies, Inc. has a fifty-two week low of $70.42 and a fifty-two week high of $138.51. The company has a market cap of $8.22 billion, a price-to-earnings ratio of 64.92, a PEG ratio of 5.62 and a beta of 0.80.

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

Ormat Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 20th will be issued a $0.12 dividend. 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 dividend payout ratio is presently 23.30%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. TD Cowen reduced their price target on Ormat Technologies from $131.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Oppenheimer reiterated an “outperform” rating and issued a $144.00 price target on shares of Ormat Technologies in a report on Friday, May 8th. Piper Sandler increased their price target on Ormat Technologies from $125.00 to $142.00 and gave the stock an “overweight” rating in a report on Monday. Roth Mkm reiterated a “buy” rating and issued a $135.00 price target on shares of Ormat Technologies in a report on Monday, May 11th. Finally, Royal Bank Of Canada initiated coverage on Ormat Technologies in a report on Tuesday, March 3rd. They issued an “outperform” rating and a $130.00 price target on the stock. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $133.18.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ORA. Aster Capital Management DIFC Ltd purchased a new stake in shares of Ormat Technologies during the 4th quarter worth $26,000. Main Street Group LTD purchased a new stake in shares of Ormat Technologies during the 1st quarter worth $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Ormat Technologies during the 4th quarter worth $31,000. Los Angeles Capital Management LLC purchased a new stake in shares of Ormat Technologies during the 4th quarter worth $32,000. Finally, Wolff Wiese Magana LLC purchased a new stake in shares of Ormat Technologies during the 4th quarter worth $33,000. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

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.