Ormat Technologies (NYSE:ORA) Director David Granot Sells 1,766 Shares

Ormat Technologies, Inc. (NYSE:ORA) Director David Granot sold 1,766 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $134.43, for a total transaction of $237,403.38. Following the completion of the sale, the director directly owned 1,766 shares in the company, valued at approximately $237,403.38. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

David Granot also recently made the following trade(s):

• On Wednesday, May 20th, David Granot sold 1,753 shares of Ormat Technologies stock. The shares were sold at an average price of $132.70, for a total transaction of $232,623.10.

Ormat Technologies Trading Up 1.5%

Shares of ORA traded up $1.95 during midday trading on Thursday, hitting $133.73. The stock had a trading volume of 543,646 shares, compared to its average volume of 1,073,189. Ormat Technologies, Inc. has a 1 year low of $70.42 and a 1 year high of $138.51. The firm has a market cap of $8.22 billion, a PE ratio of 64.92, a price-to-earnings-growth ratio of 5.62 and a beta of 0.80. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.07 and a quick ratio of 1.02. The stock’s 50 day moving average is $115.48 and its 200 day moving average is $115.13.

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

Ormat Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 20th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $0.48 annualized dividend and a dividend yield of 0.4%. Ormat Technologies’s dividend payout ratio is currently 23.30%.

Institutional Trading of Ormat Technologies

Institutional investors have recently modified their holdings of the company. Aster Capital Management DIFC Ltd bought a new stake in shares of Ormat Technologies in the 4th quarter valued at about $26,000. Main Street Group LTD bought a new stake in shares of Ormat Technologies in the 1st quarter valued at about $29,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Ormat Technologies in the 4th quarter valued at about $31,000. Los Angeles Capital Management LLC bought a new stake in shares of Ormat Technologies in the 4th quarter valued at about $32,000. Finally, Wolff Wiese Magana LLC bought a new stake in shares of Ormat Technologies in the 4th quarter valued at about $33,000. 95.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. JPMorgan Chase & Co. raised their price target on shares of Ormat Technologies from $106.00 to $123.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Robert W. Baird reduced their price target on shares of Ormat Technologies from $143.00 to $130.00 and set an “outperform” rating on the stock in a research note on Friday, February 27th. TD Cowen reduced their price target on shares of Ormat Technologies from $131.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Citigroup raised their price target on shares of Ormat Technologies from $110.00 to $128.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 18th. Finally, Barclays raised their price target on shares of Ormat Technologies from $123.00 to $126.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $133.18.

About Ormat Technologies

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.