Ormat Technologies, Inc. (NYSE:ORA) Director David Granot Sells 1,666 Shares

Ormat Technologies, Inc. (NYSE:ORA) Director David Granot sold 1,666 shares of Ormat Technologies stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $69.00, for a total value of $114,954.00. Following the sale, the director now directly owns 1,910 shares of the company’s stock, valued at $131,790. This represents a 46.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Ormat Technologies Stock Performance

Ormat Technologies stock opened at $69.57 on Thursday. Ormat Technologies, Inc. has a 12-month low of $59.41 and a 12-month high of $84.30. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73. The business’s 50-day moving average price is $66.47 and its two-hundred day moving average price is $73.14. The stock has a market cap of $4.21 billion, a PE ratio of 35.49, a P/E/G ratio of 3.18 and a beta of 0.57.

Ormat Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Wednesday, March 12th. Ormat Technologies’s dividend payout ratio is presently 23.53%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, February 28th. Roth Mkm restated a “buy” rating and issued a $92.00 price target (up previously from $87.00) on shares of Ormat Technologies in a research report on Friday, November 8th. Oppenheimer raised their price target on Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Piper Sandler initiated coverage on Ormat Technologies in a research report on Thursday, December 19th. They issued a “neutral” rating and a $78.00 price target on the stock. Finally, Jefferies Financial Group upgraded Ormat Technologies from a “hold” rating to a “buy” rating and raised their price target for the stock from $73.00 to $78.00 in a research report on Thursday, February 20th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Ormat Technologies has an average rating of “Moderate Buy” and a consensus price target of $82.88.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ORA. Versant Capital Management Inc grew its position in Ormat Technologies by 132.4% in the fourth quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock valued at $27,000 after acquiring an additional 229 shares during the last quarter. Stuart Chaussee & Associates Inc. bought a new stake in shares of Ormat Technologies during the fourth quarter worth about $34,000. AlphaQuest LLC grew its holdings in shares of Ormat Technologies by 4,691.7% during the fourth quarter. AlphaQuest LLC now owns 575 shares of the energy company’s stock worth $39,000 after purchasing an additional 563 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Ormat Technologies during the fourth quarter worth about $66,000. Finally, Mendota Financial Group LLC bought a new stake in shares of Ormat Technologies during the fourth quarter worth about $98,000. Institutional investors own 95.49% of the company’s stock.

Ormat Technologies Company Profile

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.