Ormat Technologies (NYSE:ORA) Director Sells $34,605.00 in Stock

Key Points

• Insider selling: Ormat Technologies director Stanley Stern sold 250 shares on May 27 at an average price of $138.42, totaling $34,605. He also sold 577 shares earlier in May.
• Strong quarterly results: The company reported first-quarter EPS of $1.30, beating estimates of $0.92, on revenue of $403.91 million, which was up 75.8% from a year earlier.
• Analyst sentiment remains positive: Wall Street’s consensus rating is Moderate Buy with an average target price of $133.18, while several firms recently raised or adjusted their price targets.

Ormat Technologies, Inc. (NYSE:ORA - Get Free Report) Director Stanley Stern sold 250 shares of Ormat Technologies stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $138.42, for a total transaction of $34,605.00. Following the sale, the director owned 5,800 shares of the company's stock, valued at $802,836. The trade was a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Stanley Stern also recently made the following trade(s):

• On Friday, May 15th, Stanley Stern sold 577 shares of Ormat Technologies stock. The stock was sold at an average price of $130.17, for a total transaction of $75,108.09.

Ormat Technologies Stock Performance

Shares of NYSE:ORA traded down $0.80 on Friday, hitting $136.88. 793,875 shares of the company were exchanged, compared to its average volume of 855,116. Ormat Technologies, Inc. has a 1-year low of $73.05 and a 1-year high of $141.62. The stock's 50 day moving average price is $118.21 and its 200 day moving average price is $116.00. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $8.41 billion, a P/E ratio of 66.45, a price-to-earnings-growth ratio of 5.95 and a beta of 0.80.

Ormat Technologies (NYSE:ORA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.30 EPS for the quarter, topping the consensus estimate of $0.92 by $0.38. Ormat Technologies had a net margin of 10.97% and a return on equity of 6.61%. The business had revenue of $403.91 million during the quarter, compared to the consensus estimate of $349.17 million. During the same period in the previous year, the firm posted $0.68 earnings per share. The business's revenue for the quarter was up 75.8% compared to the same quarter last year. Sell-side analysts predict that Ormat Technologies, Inc. will post 2.35 EPS for the current year.

Ormat Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Wednesday, May 20th will be given a dividend of $0.12 per share. The ex-dividend date is Wednesday, May 20th. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. Ormat Technologies's payout ratio is currently 23.30%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Piper Sandler lifted their price objective on Ormat Technologies from $125.00 to $142.00 and gave the company an "overweight" rating in a research note on Monday, May 18th. Jefferies Financial Group lowered Ormat Technologies from a "buy" rating to a "hold" rating and lifted their price objective for the company from $125.00 to $130.00 in a research note on Friday, February 13th. JPMorgan Chase & Co. lifted their price objective on Ormat Technologies from $106.00 to $123.00 and gave the company a "neutral" rating in a research note on Friday, May 8th. TD Cowen reduced their price objective on Ormat Technologies from $131.00 to $125.00 and set a "buy" rating for the company in a research note on Friday, February 27th. Finally, Royal Bank Of Canada assumed coverage on Ormat Technologies in a research note on Tuesday, March 3rd. They set an "outperform" rating and a $130.00 price objective for the company. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $133.18.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ORA. Glenmede Trust Co. NA raised its position in Ormat Technologies by 3.4% during the first quarter. Glenmede Trust Co. NA now owns 2,452 shares of the energy company's stock worth $274,000 after acquiring an additional 81 shares during the last quarter. Signaturefd LLC raised its position in Ormat Technologies by 13.0% during the fourth quarter. Signaturefd LLC now owns 746 shares of the energy company's stock worth $82,000 after acquiring an additional 86 shares during the last quarter. Quadrant Capital Group LLC raised its position in Ormat Technologies by 9.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,153 shares of the energy company's stock worth $127,000 after acquiring an additional 99 shares during the last quarter. Jones Financial Companies Lllp raised its position in Ormat Technologies by 43.8% during the third quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company's stock worth $35,000 after acquiring an additional 113 shares during the last quarter. Finally, State of Wyoming raised its position in Ormat Technologies by 6.7% during the fourth quarter. State of Wyoming now owns 2,091 shares of the energy company's stock worth $231,000 after acquiring an additional 131 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company's stock.

Ormat Technologies Company Profile

Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company's core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.

Ormat's offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.

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