Ormat Technologies, Inc. (NYSE:ORA) Insider Sells $29,509.35 in Stock

Ormat Technologies, Inc. (NYSE:ORA) insider Jessica Woelfel sold 409 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $72.15, for a total transaction of $29,509.35. Following the sale, the insider now owns 6,094 shares in the company, valued at approximately $439,682.10. This trade represents a 6.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Ormat Technologies Stock Performance

Shares of NYSE ORA traded up $0.33 during midday trading on Thursday, reaching $72.09. 388,600 shares of the company traded hands, compared to its average volume of 468,353. The company has a market cap of $4.36 billion, a price-to-earnings ratio of 36.78, a PEG ratio of 3.18 and a beta of 0.51. The stock has a 50-day moving average price of $67.11 and a 200 day moving average price of $72.94. Ormat Technologies, Inc. has a 52 week low of $59.41 and a 52 week high of $84.30. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87.

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.67%. Ormat Technologies’s dividend payout ratio (DPR) is 23.53%.

Institutional Trading of Ormat Technologies

Institutional investors have recently made changes to their positions in the stock. Pathstone Holdings LLC lifted its position in Ormat Technologies by 2.4% in the third quarter. Pathstone Holdings LLC now owns 17,729 shares of the energy company’s stock worth $1,364,000 after purchasing an additional 422 shares during the period. Caprock Group LLC acquired a new stake in shares of Ormat Technologies in the third quarter valued at $450,000. Banque Cantonale Vaudoise boosted its stake in Ormat Technologies by 9.2% during the third quarter. Banque Cantonale Vaudoise now owns 19,063 shares of the energy company’s stock valued at $1,467,000 after buying an additional 1,612 shares in the last quarter. Global Alpha Capital Management Ltd. grew its holdings in Ormat Technologies by 6.1% during the third quarter. Global Alpha Capital Management Ltd. now owns 2,446,624 shares of the energy company’s stock worth $188,125,000 after acquiring an additional 140,882 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings in Ormat Technologies by 10.5% during the third quarter. Advisors Asset Management Inc. now owns 11,227 shares of the energy company’s stock worth $864,000 after acquiring an additional 1,070 shares during the period. 95.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ORA has been the subject of several recent research reports. Baird R W raised Ormat Technologies to a “hold” rating in a report on Thursday, March 13th. Piper Sandler started coverage on Ormat Technologies in a research note on Thursday, December 19th. They set a “neutral” rating and a $78.00 price objective for the company. Jefferies Financial Group upgraded Ormat Technologies from a “hold” rating to a “buy” rating and raised their target price for the company from $73.00 to $78.00 in a research note on Thursday, February 20th. Robert W. Baird started coverage on shares of Ormat Technologies in a research report on Thursday, March 13th. They set a “neutral” rating and a $81.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price objective on shares of Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, February 28th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Ormat Technologies presently has a consensus rating of “Hold” and a consensus price target of $82.67.

About Ormat Technologies

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