Insider Selling: Ormat Technologies (NYSE:ORA) Insider Sells 5,611 Shares of Stock

Key Points

• Jessica Woelfel, an insider at Ormat Technologies, sold 5,611 shares at an average price of $94.80, totaling $531,922.80, resulting in a 62.04% decrease in her holdings.
• Ormat Technologies reported a quarterly EPS of $0.48, surpassing analyst expectations of $0.37, with a 9.9% increase in revenue year-over-year.
• Dividends for Ormat Technologies were recently announced, with a payout of $0.12 per share for a 0.5% yield on an annualized basis.

Ormat Technologies, Inc. (NYSE:ORA - Get Free Report) insider Jessica Woelfel sold 5,611 shares of Ormat Technologies stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $94.80, for a total transaction of $531,922.80. Following the completion of the transaction, the insider owned 3,433 shares of the company's stock, valued at $325,448.40. This trade represents a 62.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Friday, August 22nd, Jessica Woelfel sold 692 shares of Ormat Technologies stock. The stock was sold at an average price of $94.57, for a total transaction of $65,442.44.

Ormat Technologies Trading Up 0.8%

ORA stock traded up $0.72 during trading on Tuesday, hitting $96.28. The company had a trading volume of 519,123 shares, compared to its average volume of 473,625. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.77. The firm has a 50-day moving average price of $90.97 and a 200-day moving average price of $81.48. Ormat Technologies, Inc. has a 12 month low of $61.58 and a 12 month high of $96.92. The stock has a market cap of $5.85 billion, a price-to-earnings ratio of 44.78, a PEG ratio of 4.44 and a beta of 0.69.

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

Ormat Technologies Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Piper Sandler raised shares of Ormat Technologies from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $90.00 to $102.00 in a research note on Wednesday, September 17th. Cowen reaffirmed a "hold" rating on shares of Ormat Technologies in a report on Friday, August 8th. Barclays lowered their price target on shares of Ormat Technologies from $90.00 to $89.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Robert W. Baird raised shares of Ormat Technologies from a "neutral" rating to an "outperform" rating and increased their price target for the company from $87.00 to $103.00 in a report on Wednesday, July 30th. Finally, Roth Capital reissued a "buy" rating and issued a $98.00 price target (up from $88.00) on shares of Ormat Technologies in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $94.50.

Institutional Trading of Ormat Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Curio Wealth LLC lifted its holdings in shares of Ormat Technologies by 29,200.0% during the second quarter. Curio Wealth LLC now owns 293 shares of the energy company's stock worth $25,000 after purchasing an additional 292 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Ormat Technologies by 251.0% during the second quarter. EverSource Wealth Advisors LLC now owns 523 shares of the energy company's stock worth $44,000 after purchasing an additional 374 shares during the period. UMB Bank n.a. lifted its holdings in shares of Ormat Technologies by 42.6% during 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 during the period. GAMMA Investing LLC lifted its holdings in Ormat Technologies by 57.4% in the second quarter. GAMMA Investing LLC now owns 886 shares of the energy company's stock valued at $74,000 after buying an additional 323 shares during the period. Finally, CWM LLC lifted its holdings in Ormat Technologies by 294.2% in the first 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. Institutional investors and hedge funds own 95.49% of the company's stock.

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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