Ormat Technologies, Inc. (NYSE:ORA) Director David Granot sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $57.70, for a total transaction of $288,500.00. Following the sale, the director now directly owns 5,000 shares of the company’s stock, valued at $288,500. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Shares of Ormat Technologies, Inc. (NYSE:ORA) traded down 0.41% on Thursday, reaching $57.89. 16,887 shares of the company’s stock traded hands. The company’s 50-day moving average is $57.91 and its 200-day moving average is $54.42. Ormat Technologies, Inc. has a 52 week low of $41.12 and a 52 week high of $61.49. The firm has a market capitalization of $2.88 billion, a P/E ratio of 29.21 and a beta of 1.18.

Ormat Technologies (NYSE:ORA) last announced its earnings results on Monday, May 8th. The energy company reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.05. Ormat Technologies had a net margin of 13.29% and a return on equity of 9.45%. The business had revenue of $189.90 million for the quarter, compared to analyst estimates of $177.42 million. During the same quarter in the previous year, the firm posted $0.59 earnings per share. Ormat Technologies’s revenue was up 25.3% compared to the same quarter last year. Equities research analysts anticipate that Ormat Technologies, Inc. will post $2.33 earnings per share for the current fiscal year.

Insider Buying and Selling by Quarter for Ormat Technologies (NYSE:ORA)

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 31st. Investors of record on Monday, May 22nd will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Thursday, May 18th. Ormat Technologies’s dividend payout ratio (DPR) is currently 15.73%.

COPYRIGHT VIOLATION WARNING: “Ormat Technologies, Inc. (ORA) Director Sells $288,500.00 in Stock” was reported by American Banking News and is the property of of American Banking News. If you are reading this story on another publication, it was stolen and republished in violation of international copyright legislation. The correct version of this story can be viewed at https://www.americanbankingnews.com/2017/05/25/ormat-technologies-inc-ora-director-sells-288500-00-in-stock.html.

A number of equities research analysts recently weighed in on the stock. Cowen and Company reaffirmed an “outperform” rating and set a $67.00 price target on shares of Ormat Technologies in a report on Wednesday, April 12th. Oppenheimer Holdings Inc. set a $65.00 price objective on shares of Ormat Technologies and gave the stock a “buy” rating in a report on Thursday, May 4th. Roth Capital set a $66.00 price objective on shares of Ormat Technologies and gave the stock a “buy” rating in a report on Monday, March 6th. Zacks Investment Research lowered shares of Ormat Technologies from a “buy” rating to a “hold” rating in a report on Thursday, May 4th. Finally, Barclays PLC raised their price objective on shares of Ormat Technologies from $43.00 to $54.00 and gave the stock an “underweight” rating in a report on Monday, March 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. Ormat Technologies currently has an average rating of “Buy” and a consensus target price of $63.71.

A number of institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Ormat Technologies during the fourth quarter valued at about $20,143,000. Navellier & Associates Inc raised its stake in shares of Ormat Technologies by 2.3% in the first quarter. Navellier & Associates Inc now owns 8,090 shares of the energy company’s stock valued at $462,000 after buying an additional 180 shares during the period. IFP Advisors Inc acquired a new stake in shares of Ormat Technologies during the first quarter valued at about $154,000. Russell Investments Group Ltd. acquired a new stake in shares of Ormat Technologies during the fourth quarter valued at about $128,000. Finally, Investec Asset Management LTD acquired a new stake in shares of Ormat Technologies during the fourth quarter valued at about $1,692,000. 43.57% of the stock is currently owned by institutional investors and hedge funds.

Ormat Technologies Company Profile

Ormat Technologies, Inc is engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy-based power plants. Its equipment manufacturing operations are located in Israel. It conducts its business activities in two business segments: Electricity segment and Product segment.

12 Month Chart for NYSE:ORA

Receive News & Ratings for Ormat Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ormat Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.