Ormat Technologies, Inc. (NYSE:ORA) Director Sells $65,755.65 in Stock

Ormat Technologies, Inc. (NYSE:ORA - Get Free Report) Director Michal Marom sold 895 shares of Ormat Technologies stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $73.47, for a total transaction of $65,755.65. Following the completion of the transaction, the director now directly owns 3,080 shares in the company, valued at approximately $226,287.60. The trade was a 22.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Ormat Technologies Trading Down 0.0%

ORA traded down $0.02 during mid-day trading on Thursday, hitting $74.18. 11,186 shares of the stock were exchanged, compared to its average volume of 481,073. 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 company has a market cap of $4.50 billion, a PE ratio of 37.81, a PEG ratio of 3.18 and a beta of 0.65. The firm's fifty day moving average is $71.93 and its two-hundred day moving average is $70.87. Ormat Technologies, Inc. has a 1-year low of $61.58 and a 1-year high of $84.30.

Ormat Technologies (NYSE:ORA - Get Free Report) last announced its earnings results on Wednesday, May 7th. The energy company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.10. Ormat Technologies had a return on equity of 5.27% and a net margin of 13.33%. The company had revenue of $229.76 million for the quarter, compared to the consensus estimate of $228.33 million. During the same period last year, the business posted $0.64 EPS. The company's revenue was up 2.5% on a year-over-year basis. Equities analysts forecast that Ormat Technologies, Inc. will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 21st were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $0.48 annualized dividend and a yield of 0.65%. Ormat Technologies's dividend payout ratio is presently 23.30%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ORA shares. JPMorgan Chase & Co. upped their price target on shares of Ormat Technologies from $71.00 to $75.00 and gave the company a "neutral" rating in a research report on Friday, February 28th. Barclays increased their price objective on shares of Ormat Technologies from $75.00 to $80.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. Robert W. Baird assumed 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. Wall Street Zen raised shares of Ormat Technologies from a "sell" rating to a "hold" rating in a report on Monday, April 7th. Finally, Baird R W raised shares of Ormat Technologies to a "hold" rating in a report on Thursday, March 13th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Ormat Technologies currently has an average rating of "Hold" and an average price target of $83.29.

Institutional Investors Weigh In On Ormat Technologies

Several institutional investors and hedge funds have recently modified their holdings of the stock. Stuart Chaussee & Associates Inc. acquired a new stake in shares of Ormat Technologies during the 4th quarter worth approximately $34,000. AlphaQuest LLC boosted its position in shares of Ormat Technologies by 4,691.7% in the fourth quarter. AlphaQuest LLC now owns 575 shares of the energy company's stock worth $39,000 after buying an additional 563 shares during the period. UMB Bank n.a. boosted its position in Ormat Technologies by 42.6% during the first quarter. UMB Bank n.a. now owns 880 shares of the energy company's stock valued at $62,000 after purchasing an additional 263 shares during the last quarter. Signaturefd LLC boosted its position in Ormat Technologies by 60.6% during the first quarter. Signaturefd LLC now owns 890 shares of the energy company's stock valued at $63,000 after purchasing an additional 336 shares during the last quarter. Finally, CWM LLC raised its holdings in Ormat Technologies by 294.2% during 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 in the last quarter. Hedge funds and other institutional investors 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.