Stanley Stern Sells 250 Shares of Ormat Technologies (NYSE:ORA) Stock

Ormat Technologies, Inc. (NYSE:ORA) Director Stanley Stern sold 250 shares of Ormat Technologies stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $138.42, for a total transaction of $34,605.00. Following the transaction, the director directly owned 5,800 shares of the company’s stock, valued at approximately $802,836. This trade represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Stanley Stern also recently made the following trade(s):

• On Friday, May 15th, Stanley Stern sold 577 shares of Ormat Technologies stock. The shares were sold at an average price of $130.17, for a total transaction of $75,108.09.

Ormat Technologies Price Performance

Ormat Technologies stock opened at $136.88 on Friday. The company’s fifty day moving average price is $118.80 and its 200 day moving average price is $116.15. Ormat Technologies, Inc. has a 1 year low of $73.05 and a 1 year high of $141.62. The stock has a market capitalization of $8.41 billion, a P/E ratio of 66.45, a P/E/G ratio of 5.85 and a beta of 0.80. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.02 and a current ratio of 1.07.

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

Ormat Technologies Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Barclays boosted their price target on shares of Ormat Technologies from $123.00 to $126.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. UBS Group boosted their price target on shares of Ormat Technologies from $143.00 to $152.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Piper Sandler boosted their price target on shares of Ormat Technologies from $125.00 to $142.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Roth Mkm reissued a “buy” rating and set a $135.00 price target on shares of Ormat Technologies in a research report on Monday, May 11th. Finally, Robert W. Baird lowered 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 report on Friday, February 27th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $133.18.

Institutional Trading of Ormat Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd purchased a new stake in Ormat Technologies in the 4th quarter valued at about $26,000. Main Street Group LTD purchased a new stake in Ormat Technologies during the first quarter worth about $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in Ormat Technologies during the fourth quarter worth about $31,000. Los Angeles Capital Management LLC purchased a new stake in Ormat Technologies during the fourth quarter worth about $32,000. Finally, Wolff Wiese Magana LLC purchased a new stake in Ormat Technologies during the fourth quarter worth about $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.