Insider Selling: Ormat Technologies, Inc. (NYSE:ORA) Insider Sells 167 Shares of Stock

Ormat Technologies, Inc. (NYSE:ORA - Get Free Report) insider Jessica Woelfel sold 167 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $71.64, for a total transaction of $11,963.88. Following the sale, the insider now owns 6,490 shares of the company's stock, valued at approximately $464,943.60. This represents a 2.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Jessica Woelfel also recently made the following trade(s):

• On Tuesday, March 18th, Jessica Woelfel sold 409 shares of Ormat Technologies stock. The stock was sold at an average price of $72.15, for a total value of $29,509.35.

Ormat Technologies Stock Performance

ORA traded up $0.44 during trading on Friday, reaching $70.55. 316,683 shares of the company were exchanged, compared to its average volume of 489,062. Ormat Technologies, Inc. has a 52 week low of $59.41 and a 52 week high of $84.30. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The firm has a 50 day moving average of $67.59 and a 200 day moving average of $72.85. The stock has a market cap of $4.27 billion, a P/E ratio of 36.00, a PEG ratio of 3.18 and a beta of 0.51.

Ormat Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date was Wednesday, March 12th. Ormat Technologies's payout ratio is 23.53%.

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Analyst Ratings Changes

ORA has been the subject of several recent analyst reports. Jefferies Financial Group raised their target price on Ormat Technologies from $78.00 to $86.00 and gave the company a "buy" rating in a research note on Tuesday. Baird R W upgraded shares of Ormat Technologies to a "hold" rating in a research note on Thursday, March 13th. Piper Sandler started coverage on shares of Ormat Technologies in a research note on Thursday, December 19th. They set a "neutral" rating and a $78.00 price objective on the stock. Robert W. Baird began coverage on shares of Ormat Technologies in a report on Thursday, March 13th. They set a "neutral" rating and a $81.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their target price on shares of Ormat Technologies from $71.00 to $75.00 and gave the company a "neutral" rating in a research note on Friday, February 28th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $83.56.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ORA. Vanguard Group Inc. boosted its position in shares of Ormat Technologies by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 6,043,996 shares of the energy company's stock worth $409,305,000 after buying an additional 274,540 shares during the period. Impax Asset Management Group plc boosted its position in Ormat Technologies by 7.3% during the 4th quarter. Impax Asset Management Group plc now owns 2,415,479 shares of the energy company's stock worth $162,586,000 after acquiring an additional 163,505 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Ormat Technologies by 6.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,586,479 shares of the energy company's stock worth $107,440,000 after purchasing an additional 93,418 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Ormat Technologies by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 1,373,426 shares of the energy company's stock valued at $93,029,000 after purchasing an additional 72,135 shares during the period. Finally, Norges Bank bought a new stake in shares of Ormat Technologies during the fourth quarter valued at about $62,851,000. 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.