Dan Falk Sells 7,500 Shares of Ormat Technologies, Inc. (NYSE:ORA) Stock

Ormat Technologies, Inc. (NYSE:ORA) Director Dan Falk sold 7,500 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $77.77, for a total transaction of $583,275.00. Following the transaction, the director now directly owns 9,167 shares of the company’s stock, valued at approximately $712,917.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

NYSE ORA traded down $1.30 on Monday, reaching $75.43. The company’s stock had a trading volume of 1,980 shares, compared to its average volume of 120,857. The firm has a market cap of $3.91 billion, a PE ratio of 36.64, a price-to-earnings-growth ratio of 3.95 and a beta of 1.04. The business has a 50-day moving average price of $76.35 and a 200 day moving average price of $69.58. Ormat Technologies, Inc. has a 52 week low of $49.70 and a 52 week high of $79.18. The company has a current ratio of 1.23, a quick ratio of 1.11 and a debt-to-equity ratio of 0.70.

Ormat Technologies (NYSE:ORA) last posted its earnings results on Wednesday, November 6th. The energy company reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.03). The business had revenue of $170.50 million during the quarter, compared to the consensus estimate of $171.11 million. Ormat Technologies had a net margin of 12.59% and a return on equity of 6.00%. The business’s revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.31 EPS. Analysts anticipate that Ormat Technologies, Inc. will post 1.77 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th were paid a $0.11 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $0.44 dividend on an annualized basis and a yield of 0.58%. Ormat Technologies’s payout ratio is currently 21.15%.

ORA has been the subject of a number of research analyst reports. Roth Capital lowered shares of Ormat Technologies from a “buy” rating to a “neutral” rating and set a $78.00 price objective for the company. in a research report on Monday, November 11th. They noted that the move was a valuation call. Cowen cut shares of Ormat Technologies from an “outperform” rating to a “market perform” rating and set a $76.00 target price on the stock. in a research note on Thursday, October 24th. ValuEngine cut shares of Ormat Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research raised shares of Ormat Technologies from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research note on Monday, October 21st. Finally, UBS Group upped their target price on shares of Ormat Technologies from $59.00 to $73.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Ormat Technologies presently has an average rating of “Hold” and an average price target of $73.40.

A number of institutional investors have recently modified their holdings of the business. Prudential Financial Inc. grew its stake in Ormat Technologies by 3.8% during the second quarter. Prudential Financial Inc. now owns 4,367 shares of the energy company’s stock worth $277,000 after buying an additional 160 shares during the last quarter. Somerville Kurt F grew its stake in Ormat Technologies by 1.5% during the third quarter. Somerville Kurt F now owns 13,455 shares of the energy company’s stock worth $1,000,000 after buying an additional 200 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in Ormat Technologies by 20.3% during the second quarter. Public Employees Retirement System of Ohio now owns 1,383 shares of the energy company’s stock worth $88,000 after buying an additional 233 shares during the last quarter. Royal Bank of Canada grew its stake in Ormat Technologies by 12.2% during the second quarter. Royal Bank of Canada now owns 3,653 shares of the energy company’s stock worth $230,000 after buying an additional 398 shares during the last quarter. Finally, LGT Capital Partners LTD. grew its stake in Ormat Technologies by 1.5% during the third quarter. LGT Capital Partners LTD. now owns 39,780 shares of the energy company’s stock worth $2,955,000 after buying an additional 600 shares during the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

About Ormat Technologies

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, New Zealand, and internationally. The company operates through three segments: Electricity, Product, and Other. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity.

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