Ormat Technologies, Inc. (NYSE:ORA - Get Free Report) insider Jessica Woelfel sold 409 shares of Ormat Technologies stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total value of $29,509.35. Following the completion of the sale, the insider now owns 6,094 shares of the company's stock, valued at $439,682.10. This trade represents a 6.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Ormat Technologies Stock Down 0.9 %
Shares of NYSE ORA traded down $0.61 during trading on Monday, reaching $71.03. 549,220 shares of the stock were exchanged, compared to its average volume of 470,736. The business's 50-day moving average price is $67.32 and its 200 day moving average price is $72.91. The company has a market capitalization of $4.30 billion, a price-to-earnings ratio of 36.24, a price-to-earnings-growth ratio of 3.18 and a beta of 0.51. Ormat Technologies, Inc. has a twelve month low of $59.41 and a twelve month high of $84.30. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73.
Ormat Technologies Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th will be given a $0.12 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a yield of 0.68%. Ormat Technologies's payout ratio is currently 23.53%.
Institutional Trading of Ormat Technologies
A number of hedge funds and other institutional investors have recently modified their holdings of ORA. Versant Capital Management Inc boosted its holdings in Ormat Technologies by 132.4% in the fourth quarter. Versant Capital Management Inc now owns 402 shares of the energy company's stock valued at $27,000 after purchasing an additional 229 shares during the last quarter. Stuart Chaussee & Associates Inc. purchased a new position in shares of Ormat Technologies during the 4th quarter valued at approximately $34,000. AlphaQuest LLC grew its position in shares of Ormat Technologies by 4,691.7% during the fourth quarter. AlphaQuest LLC now owns 575 shares of the energy company's stock worth $39,000 after buying an additional 563 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Ormat Technologies in the fourth quarter worth $66,000. Finally, Mendota Financial Group LLC acquired a new stake in Ormat Technologies in the fourth quarter valued at $98,000. 95.49% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the stock. Robert W. Baird started coverage on shares of Ormat Technologies in a report on Thursday, March 13th. They issued a "neutral" rating and a $81.00 target price for the company. Baird R W upgraded Ormat Technologies to a "hold" rating in a report on Thursday, March 13th. Jefferies Financial Group upgraded Ormat Technologies from a "hold" rating to a "buy" rating and lifted their target price for the company from $73.00 to $78.00 in a report on Thursday, February 20th. Piper Sandler initiated coverage on Ormat Technologies in a research note on Thursday, December 19th. They set a "neutral" rating and a $78.00 price target for the company. Finally, JPMorgan Chase & Co. lifted their price objective on Ormat Technologies from $71.00 to $75.00 and gave the company a "neutral" rating in a research note on Friday, February 28th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $82.67.
Get Our Latest Stock Report on ORA
Ormat Technologies Company Profile
(
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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.
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