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

Ormat Technologies, Inc. (NYSE:ORA) Director Stanley Stern sold 250 shares of Ormat Technologies stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $138.42, for a total value of $34,605.00. Following the transaction, the director directly owned 5,800 shares in the company, valued at approximately $802,836. This trade represents a 4.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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

ORA stock opened at $136.88 on Monday. The firm has a 50 day simple moving average of $118.80 and a 200 day simple moving average of $116.16. Ormat Technologies, Inc. has a 52 week low of $73.05 and a 52 week high of $141.62. The stock has a market cap of $8.41 billion, a P/E ratio of 66.45, a P/E/G ratio of 5.85 and a beta of 0.85. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.02 and a current ratio of 1.07.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.30 earnings per share for the quarter, beating 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 firm had revenue of $403.91 million for the quarter, compared to analyst estimates of $349.17 million. During the same quarter in the prior year, the business earned $0.68 EPS. The company’s revenue for the quarter was up 75.8% compared to the same quarter last year. Research analysts anticipate that Ormat Technologies, Inc. will post 2.35 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 20th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.4%. Ormat Technologies’s dividend payout ratio is 23.30%.

Institutional Trading of Ormat Technologies

Large investors have recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd bought a new position in shares of Ormat Technologies in the 4th quarter valued at approximately $26,000. Main Street Group LTD bought a new stake in Ormat Technologies during the first quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd acquired a new position in Ormat Technologies during the fourth quarter valued at approximately $31,000. Smartleaf Asset Management LLC grew its holdings in Ormat Technologies by 245.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 297 shares of the energy company’s stock valued at $33,000 after purchasing an additional 211 shares during the last quarter. Finally, Wolff Wiese Magana LLC bought a new position in shares of Ormat Technologies in the fourth quarter valued at approximately $33,000. Institutional investors own 95.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on ORA shares. Barclays boosted their target price on Ormat Technologies from $123.00 to $126.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Royal Bank Of Canada began coverage on Ormat Technologies in a report on Tuesday, March 3rd. They set an “outperform” rating and a $130.00 price target for the company. Roth Mkm reissued a “buy” rating and issued a $135.00 price target on shares of Ormat Technologies in a research note on Monday, May 11th. Oppenheimer restated an “outperform” rating and issued a $144.00 price objective on shares of Ormat Technologies in a report on Friday, May 8th. Finally, UBS Group raised their price objective on shares of Ormat Technologies from $143.00 to $152.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $133.18.

About Ormat Technologies

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.