Ormat Technologies, Inc. (NYSE:ORA) VP Erez Klein sold 4,120 shares of Ormat Technologies stock in a transaction on Friday, June 22nd. The stock was sold at an average price of $54.50, for a total transaction of $224,540.00. Following the completion of the sale, the vice president now owns 4,120 shares of the company’s stock, valued at approximately $224,540. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of NYSE:ORA traded up $0.33 during midday trading on Monday, reaching $53.44. The company had a trading volume of 284,400 shares, compared to its average volume of 253,106. The company has a current ratio of 1.57, a quick ratio of 1.07 and a debt-to-equity ratio of 0.64. The firm has a market cap of $2.69 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 2.41 and a beta of 1.32. Ormat Technologies, Inc. has a one year low of $50.43 and a one year high of $70.68.
Ormat Technologies (NYSE:ORA) last released its earnings results on Monday, May 7th. The energy company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.09). Ormat Technologies had a net margin of 24.00% and a return on equity of 11.03%. The business had revenue of $184.00 million for the quarter, compared to the consensus estimate of $176.72 million. During the same quarter in the previous year, the firm earned $0.70 EPS. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. equities research analysts forecast that Ormat Technologies, Inc. will post 2.16 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 30th. Shareholders of record on Monday, May 21st were paid a dividend of $0.10 per share. The ex-dividend date was Friday, May 18th. This represents a $0.40 annualized dividend and a yield of 0.75%. Ormat Technologies’s payout ratio is 13.38%.
A number of hedge funds have recently added to or reduced their stakes in the business. Clal Insurance Enterprises Holdings Ltd increased its stake in Ormat Technologies by 13.1% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,236,806 shares of the energy company’s stock valued at $126,111,000 after purchasing an additional 258,900 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Ormat Technologies by 4.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,543,463 shares of the energy company’s stock valued at $87,020,000 after purchasing an additional 59,441 shares during the last quarter. Renaissance Technologies LLC increased its stake in Ormat Technologies by 3.5% during the fourth quarter. Renaissance Technologies LLC now owns 1,316,651 shares of the energy company’s stock valued at $84,213,000 after purchasing an additional 44,494 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake in Ormat Technologies by 2.1% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,108,964 shares of the energy company’s stock valued at $62,523,000 after purchasing an additional 22,772 shares during the last quarter. Finally, Delek Group Ltd. increased its stake in Ormat Technologies by 65.0% during the first quarter. Delek Group Ltd. now owns 1,059,712 shares of the energy company’s stock valued at $59,871,000 after purchasing an additional 417,648 shares during the last quarter. Hedge funds and other institutional investors own 71.04% of the company’s stock.
A number of analysts recently issued reports on ORA shares. Cowen set a $67.00 price target on shares of Ormat Technologies and gave the stock a “buy” rating in a research note on Thursday, March 1st. Roth Capital dropped their price target on shares of Ormat Technologies from $70.00 to $67.00 and set a “buy” rating for the company in a research note on Friday, March 2nd. UBS Group started coverage on shares of Ormat Technologies in a research note on Friday, March 16th. They issued a “neutral” rating for the company. JPMorgan Chase & Co. restated an “overweight” rating and issued a $68.00 price target (down previously from $70.00) on shares of Ormat Technologies in a research note on Friday, March 16th. Finally, Oppenheimer restated a “market perform” rating on shares of Ormat Technologies in a research note on Friday, April 6th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Ormat Technologies has a consensus rating of “Hold” and a consensus target price of $69.17.
About Ormat Technologies
Ormat Technologies, Inc engages in the geothermal and recovered energy power business worldwide. The company operates through Electricity and Product segments. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity. This segment also offers energy storage, demand response, and energy management related services.
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