Ormat Technologies, Inc. (NYSE:ORA) Director Sells $38,658.40 in Stock

Ormat Technologies, Inc. (NYSE:ORA - Get Free Report) Director Byron G. Wong sold 460 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $84.04, for a total value of $38,658.40. Following the completion of the sale, the director directly owned 8,659 shares in the company, valued at approximately $727,702.36. The trade was a 5.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Ormat Technologies Trading Down 0.2%

NYSE ORA traded down $0.16 on Wednesday, reaching $84.60. 675,790 shares of the company were exchanged, compared to its average volume of 484,733. The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 0.77. The business's fifty day moving average price is $76.52 and its 200 day moving average price is $71.14. The stock has a market capitalization of $5.13 billion, a P/E ratio of 41.07, a price-to-earnings-growth ratio of 4.09 and a beta of 0.64. Ormat Technologies, Inc. has a fifty-two week low of $61.58 and a fifty-two week high of $87.20.

Ormat Technologies (NYSE:ORA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.58 by $0.10. The business had revenue of $229.76 million for the quarter, compared to analyst estimates of $228.33 million. Ormat Technologies had a return on equity of 5.35% and a net margin of 14.18%. The company's quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 EPS. Analysts forecast that Ormat Technologies, Inc. will post 1.94 earnings per share for the current year.

Ormat Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 21st were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $0.48 annualized dividend and a dividend yield of 0.57%. Ormat Technologies's dividend payout ratio (DPR) is 23.30%.

Institutional Trading of Ormat Technologies

Hedge funds have recently made changes to their positions in the company. Stuart Chaussee & Associates Inc. purchased a new stake in shares of Ormat Technologies in the 4th quarter valued at approximately $34,000. AlphaQuest LLC grew its stake in shares of Ormat Technologies by 4,691.7% in the 4th quarter. AlphaQuest LLC now owns 575 shares of the energy company's stock valued at $39,000 after buying an additional 563 shares during the period. UMB Bank n.a. grew its stake in shares of Ormat Technologies by 42.6% in the 1st quarter. UMB Bank n.a. now owns 880 shares of the energy company's stock valued at $62,000 after buying an additional 263 shares during the period. Signaturefd LLC grew its stake in shares of Ormat Technologies by 60.6% in the 1st quarter. Signaturefd LLC now owns 890 shares of the energy company's stock valued at $63,000 after buying an additional 336 shares during the period. Finally, CWM LLC grew its stake in shares of Ormat Technologies by 294.2% in the 1st quarter. CWM LLC now owns 887 shares of the energy company's stock valued at $63,000 after buying an additional 662 shares during the period. Hedge funds and other institutional investors own 95.49% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ORA. Wall Street Zen raised shares of Ormat Technologies from a "sell" rating to a "hold" rating in a research note on Monday, April 7th. Barclays raised shares of Ormat Technologies from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $80.00 to $86.00 in a research note on Friday, June 6th. Baird R W raised shares of Ormat Technologies to a "hold" rating in a research note on Thursday, March 13th. Robert W. Baird assumed coverage on shares of Ormat Technologies in a research note on Thursday, March 13th. They set a "neutral" rating and a $81.00 target price for the company. Finally, Jefferies Financial Group upped their target price on shares of Ormat Technologies from $78.00 to $86.00 and gave the stock a "buy" rating in a report on Tuesday, March 25th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Ormat Technologies has an average rating of "Hold" and an average price target of $84.14.

Ormat Technologies Company Profile

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.