Ormat Technologies (NYSE:ORA) CFO Sells $2,254,400.00 in Stock

Ormat Technologies, Inc. (NYSE:ORA) CFO Assi Ginzburg sold 20,000 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $112.72, for a total value of $2,254,400.00. Following the transaction, the chief financial officer owned 4,482 shares in the company, valued at approximately $505,211.04. This trade represents a 81.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Assi Ginzburg also recently made the following trade(s):

• On Thursday, September 18th, Assi Ginzburg sold 9,343 shares of Ormat Technologies stock. The shares were sold at an average price of $93.31, for a total transaction of $871,795.33.
• On Friday, August 22nd, Assi Ginzburg sold 7,066 shares of Ormat Technologies stock. The stock was sold at an average price of $94.71, for a total transaction of $669,220.86.

Ormat Technologies Trading Up 0.9%

NYSE:ORA traded up $0.99 during trading hours on Monday, hitting $114.47. The stock had a trading volume of 689,322 shares, compared to its average volume of 531,244. The business’s 50 day moving average is $100.97 and its 200-day moving average is $89.12. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.64 and a current ratio of 0.70. The company has a market cap of $6.95 billion, a price-to-earnings ratio of 53.24, a P/E/G ratio of 4.84 and a beta of 0.77. Ormat Technologies, Inc. has a one year low of $61.58 and a one year high of $115.72.

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

Ormat Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, November 17th. Ormat Technologies’s payout ratio is currently 22.02%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. TD Cowen raised their price target on Ormat Technologies from $95.00 to $100.00 and gave the company a “hold” rating in a research note on Wednesday, November 5th. Piper Sandler upgraded Ormat Technologies from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $90.00 to $102.00 in a research note on Wednesday, September 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ormat Technologies in a research note on Wednesday, October 8th. Cowen reaffirmed a “hold” rating on shares of Ormat Technologies in a research report on Wednesday, November 5th. Finally, Barclays lifted their target price on shares of Ormat Technologies from $89.00 to $118.00 and gave the stock an “overweight” rating in a research note on Friday. One equities research 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’s stock. According to data from MarketBeat.com, Ormat Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $115.44.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ORA. Teacher Retirement System of Texas purchased a new position in Ormat Technologies in the first quarter worth $593,000. Principal Financial Group Inc. raised its stake in shares of Ormat Technologies by 1.0% during the first quarter. Principal Financial Group Inc. now owns 133,227 shares of the energy company’s stock valued at $9,428,000 after acquiring an additional 1,321 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Ormat Technologies by 8.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 9,049 shares of the energy company’s stock worth $631,000 after buying an additional 711 shares during the last quarter. State of Michigan Retirement System increased its position in Ormat Technologies by 2.2% during the 1st quarter. State of Michigan Retirement System now owns 13,800 shares of the energy company’s stock valued at $977,000 after purchasing an additional 300 shares during the period. Finally, Xponance Inc. raised its stake in Ormat Technologies by 12.4% in the first quarter. Xponance Inc. now owns 9,839 shares of the energy company’s stock worth $696,000 after buying an additional 1,082 shares in the last quarter. Hedge funds and other institutional investors 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.