Dafna Sharir Sells 981 Shares of Ormat Technologies (NYSE:ORA) Stock

Key Points

• Director Dafna Sharir sold 981 shares of Ormat Technologies stock at an average price of $96.70, resulting in a 30.30% decrease in their ownership.
• Ormat Technologies reported a quarterly earnings per share (EPS) of $0.48, exceeding estimates and demonstrating a year-over-year revenue increase of 9.9%.
• The company announced a quarterly dividend of $0.12 per share, reflecting a dividend yield of 0.5% and a payout ratio of 22.33%.

Ormat Technologies, Inc. (NYSE:ORA - Get Free Report) Director Dafna Sharir sold 981 shares of the business's stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $96.70, for a total value of $94,862.70. Following the transaction, the director directly owned 2,257 shares of the company's stock, valued at approximately $218,251.90. This represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Ormat Technologies Stock Performance

Shares of NYSE:ORA traded up $4.10 during trading on Wednesday, reaching $100.35. The company had a trading volume of 934,182 shares, compared to its average volume of 469,148. The stock's fifty day moving average price is $91.17 and its 200 day moving average price is $81.61. Ormat Technologies, Inc. has a fifty-two week low of $61.58 and a fifty-two week high of $101.15. The firm has a market capitalization of $6.09 billion, a price-to-earnings ratio of 46.67, a price-to-earnings-growth ratio of 4.48 and a beta of 0.69. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.70 and a quick ratio of 0.64.

Ormat Technologies (NYSE:ORA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The energy company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.11. The business had revenue of $234.02 million for the quarter, compared to the consensus estimate of $225.26 million. Ormat Technologies had a return on equity of 5.47% and a net margin of 14.49%.The business's revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.37 earnings per share. As a group, equities research analysts predict that Ormat Technologies, Inc. will post 1.94 EPS for the current year.

Ormat Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Wednesday, August 20th. Ormat Technologies's payout ratio is presently 22.33%.

Institutional Trading of Ormat Technologies

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its holdings in Ormat Technologies by 4,485.0% in the first quarter. GAMMA Investing LLC now owns 39,844 shares of the energy company's stock worth $2,820,000 after purchasing an additional 38,975 shares during the period. UMB Bank n.a. increased its stake in shares of Ormat Technologies by 42.6% in the first quarter. UMB Bank n.a. now owns 880 shares of the energy company's stock worth $62,000 after purchasing an additional 263 shares in the last quarter. Wesbanco Bank Inc. grew its stake in Ormat Technologies by 26.2% during the first quarter. Wesbanco Bank Inc. now owns 28,400 shares of the energy company's stock valued at $2,010,000 after acquiring an additional 5,900 shares in the last quarter. Yousif Capital Management LLC grew its stake in shares of Ormat Technologies by 3.7% in the 1st quarter. Yousif Capital Management LLC now owns 19,576 shares of the energy company's stock worth $1,385,000 after buying an additional 695 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in shares of Ormat Technologies by 66.3% in the 1st quarter. Handelsbanken Fonder AB now owns 259,258 shares of the energy company's stock worth $18,348,000 after acquiring an additional 103,352 shares during the last quarter. 95.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Robert W. Baird raised Ormat Technologies from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $87.00 to $103.00 in a research report on Wednesday, July 30th. JPMorgan Chase & Co. increased their price objective on Ormat Technologies from $75.00 to $85.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Cowen reaffirmed a "hold" rating on shares of Ormat Technologies in a research note on Friday, August 8th. UBS Group lifted their target price on Ormat Technologies from $100.00 to $105.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, Piper Sandler upgraded Ormat Technologies from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $90.00 to $102.00 in a report on Wednesday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $94.50.

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.

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