Ormat Technologies, Inc. (NYSE:ORA) major shareholder Iv 2007 Ltd. Fimi sold 7,202,646 shares of the firm’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $57.00, for a total transaction of $410,550,822.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Shares of Ormat Technologies, Inc. (NYSE:ORA) traded down 1.12% on Thursday, hitting $58.50. 120,099 shares of the stock were exchanged. The stock’s 50-day moving average is $58.98 and its 200-day moving average is $57.29. Ormat Technologies, Inc. has a 1-year low of $45.14 and a 1-year high of $61.49. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of 29.52 and a beta of 1.19.

Ormat Technologies (NYSE:ORA) last posted its earnings results on Monday, May 8th. The energy company reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.05. Ormat Technologies had a net margin of 14.26% and a return on equity of 10.05%. The firm had revenue of $189.90 million during the quarter, compared to analyst estimates of $177.42 million. During the same quarter in the prior year, the business posted $0.59 EPS. The business’s revenue was up 25.3% compared to the same quarter last year. Analysts forecast that Ormat Technologies, Inc. will post $2.30 earnings per share for the current year.

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Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Ormat Technologies by 5.8% in the first quarter. Vanguard Group Inc. now owns 3,223,631 shares of the energy company’s stock valued at $184,006,000 after buying an additional 177,288 shares during the last quarter. BlackRock Inc. raised its stake in Ormat Technologies by 6,068.3% in the first quarter. BlackRock Inc. now owns 2,473,872 shares of the energy company’s stock valued at $141,210,000 after buying an additional 2,433,766 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Ormat Technologies by 5.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,430,513 shares of the energy company’s stock valued at $81,654,000 after buying an additional 70,927 shares during the last quarter. Renaissance Technologies LLC raised its stake in Ormat Technologies by 24.3% in the first quarter. Renaissance Technologies LLC now owns 921,157 shares of the energy company’s stock valued at $52,580,000 after buying an additional 179,900 shares during the last quarter. Finally, State Street Corp raised its stake in Ormat Technologies by 4.9% in the first quarter. State Street Corp now owns 724,132 shares of the energy company’s stock valued at $41,332,000 after buying an additional 34,005 shares during the last quarter. Hedge funds and other institutional investors own 45.81% of the company’s stock.

A number of research analysts recently weighed in on the stock. Cowen and Company set a $67.00 target price on shares of Ormat Technologies and gave the company a “buy” rating in a research report on Monday, July 17th. J P Morgan Chase & Co raised shares of Ormat Technologies from a “neutral” rating to an “overweight” rating and raised their target price for the company from $65.00 to $71.00 in a research report on Wednesday, June 7th. BidaskClub raised shares of Ormat Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th. Barclays PLC raised shares of Ormat Technologies from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $54.00 to $59.00 in a research report on Friday, May 26th. Finally, Zacks Investment Research raised shares of Ormat Technologies from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Friday, May 12th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $65.25.

About Ormat Technologies

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.

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

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