Insider Selling: Ormat Technologies (NYSE:ORA) Director Sells $232,623.10 in Stock

Ormat Technologies, Inc. (NYSE:ORA) Director David Granot sold 1,753 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $132.70, for a total transaction of $232,623.10. Following the transaction, the director owned 1,766 shares of the company’s stock, valued at approximately $234,348.20. This represents a 49.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

David Granot also recently made the following trade(s):

• On Thursday, May 21st, David Granot sold 1,766 shares of Ormat Technologies stock. The shares were sold at an average price of $134.43, for a total transaction of $237,403.38.

Ormat Technologies Stock Performance

NYSE:ORA opened at $133.28 on Friday. Ormat Technologies, Inc. has a 1 year low of $70.60 and a 1 year high of $138.51. The firm has a 50 day moving average of $115.98 and a 200-day moving average of $115.26. 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 stock has a market capitalization of $8.19 billion, a P/E ratio of 64.70, a price-to-earnings-growth ratio of 5.69 and a beta of 0.80.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.30 earnings per share 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 firm had revenue of $403.91 million during the quarter, compared to analysts’ expectations of $349.17 million. During the same quarter in the previous year, the company posted $0.68 EPS. Ormat Technologies’s revenue was up 75.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Ormat Technologies, Inc. will post 2.35 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have commented on ORA shares. Oppenheimer reaffirmed an “outperform” rating and set a $144.00 target price on shares of Ormat Technologies in a report on Friday, May 8th. Barclays boosted their price target on shares of Ormat Technologies from $123.00 to $126.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Citigroup boosted their price target on shares of Ormat Technologies from $110.00 to $128.00 and gave the company a “neutral” rating in a report on Wednesday, February 18th. Jefferies Financial Group lowered shares of Ormat Technologies from a “buy” rating to a “hold” rating and boosted their price target for the company from $125.00 to $130.00 in a report on Friday, February 13th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ormat Technologies in a research note on Tuesday, April 21st. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $133.18.

Institutional Investors Weigh In On Ormat Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in ORA. Aster Capital Management DIFC Ltd acquired a new stake in shares of Ormat Technologies in the fourth quarter valued at approximately $26,000. Main Street Group LTD acquired a new stake in Ormat Technologies in the first quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in Ormat Technologies in the fourth quarter valued at approximately $31,000. Los Angeles Capital Management LLC bought a new position in shares of Ormat Technologies during the fourth quarter valued at $32,000. Finally, Wolff Wiese Magana LLC bought a new position in shares of Ormat Technologies during the fourth quarter valued at $33,000. 95.49% of the stock is currently owned by institutional investors and hedge funds.

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.