Ormat Technologies Inc. (NYSE:ORA) Director Gillon Beck sold 390,000 shares of the business’s stock in a transaction dated Wednesday, September 28th. The stock was sold at an average price of $48.64, for a total transaction of $18,969,600.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Ormat Technologies Inc. (NYSE:ORA) opened at 48.41 on Friday. The firm has a market capitalization of $2.40 billion, a P/E ratio of 16.09 and a beta of 1.16. The stock’s 50 day moving average price is $48.72 and its 200-day moving average price is $44.63. Ormat Technologies Inc. has a 12 month low of $32.25 and a 12 month high of $51.19.
Ormat Technologies (NYSE:ORA) last announced its earnings results on Tuesday, August 2nd. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.07. The company had revenue of $159.90 million for the quarter, compared to analyst estimates of $152.88 million. Ormat Technologies had a return on equity of 9.18% and a net margin of 23.05%. Ormat Technologies’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.28 earnings per share. On average, analysts forecast that Ormat Technologies Inc. will post $1.91 earnings per share for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada increased its position in shares of Ormat Technologies by 143.4% in the second quarter. Royal Bank of Canada now owns 13,751 shares of the company’s stock worth $602,000 after buying an additional 8,102 shares in the last quarter. Personal Capital Advisors Corp increased its position in shares of Ormat Technologies by 19.2% in the second quarter. Personal Capital Advisors Corp now owns 79,457 shares of the company’s stock worth $3,477,000 after buying an additional 12,771 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Ormat Technologies by 1.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 125,426 shares of the company’s stock worth $5,489,000 after buying an additional 2,124 shares in the last quarter. Legal & General Group Plc increased its position in shares of Ormat Technologies by 18.5% in the second quarter. Legal & General Group Plc now owns 8,956 shares of the company’s stock worth $388,000 after buying an additional 1,400 shares in the last quarter. Finally, Numeric Investors LLC acquired a new position in shares of Ormat Technologies during the second quarter worth $289,000. Institutional investors and hedge funds own 41.27% of the company’s stock.
A number of analysts have issued reports on ORA shares. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Ormat Technologies in a research note on Wednesday, August 3rd. Oppenheimer Holdings Inc. started coverage on shares of Ormat Technologies in a research note on Thursday, September 8th. They set an “outperform” rating and a $54.00 price target on the stock. Zacks Investment Research upgraded shares of Ormat Technologies from a “hold” rating to a “strong-buy” rating and set a $55.00 price target on the stock in a research note on Saturday, August 6th. Finally, Roth Capital started coverage on shares of Ormat Technologies in a research note on Thursday, July 28th. They set a “buy” rating and a $50.00 price target on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $46.80.
Ormat Technologies Company Profile
Ormat Technologies, Inc is engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy-based power plants. The Company’s equipment manufacturing operations are located in Israel. The Company conducts its business activities in two business segments: Electricity segment and Product segment.
Receive News & Ratings for Ormat Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ormat Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.