Ormat Technologies, Inc. (NYSE:ORA) Director David Granot sold 2,500 shares of the business’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $57.66, for a total transaction of $144,150.00. Following the completion of the sale, the director now directly owns 2,500 shares of the company’s stock, valued at $144,150. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Ormat Technologies, Inc. (NYSE ORA) opened at 58.45 on Thursday. Ormat Technologies, Inc. has a one year low of $45.30 and a one year high of $61.49. The stock has a 50 day moving average of $57.21 and a 200-day moving average of $58.00. The firm has a market capitalization of $2.92 billion, a PE ratio of 26.67 and a beta of 1.20.
Ormat Technologies (NYSE:ORA) last posted its earnings results on Thursday, August 3rd. The energy company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. The company had revenue of $179.36 million for the quarter, compared to analysts’ expectations of $169.80 million. Ormat Technologies had a return on equity of 10.25% and a net margin of 15.36%. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period last year, the business posted $0.49 earnings per share. On average, equities analysts predict that Ormat Technologies, Inc. will post $2.29 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 29th. Shareholders of record on Tuesday, August 15th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Friday, August 11th. Ormat Technologies’s payout ratio is 14.61%.
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A number of equities research analysts recently commented 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 Friday, August 18th. TheStreet cut shares of Ormat Technologies from a “b” rating to a “c+” rating in a research report on Monday, August 14th. J P Morgan Chase & Co upgraded shares of Ormat Technologies from a “neutral” rating to an “overweight” rating and upped their price target for the company from $65.00 to $71.00 in a research note on Wednesday, June 7th. BidaskClub upgraded shares of Ormat Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. Finally, Barclays PLC upgraded shares of Ormat Technologies from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $54.00 to $59.00 in a research note on Friday, May 26th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Ormat Technologies currently has an average rating of “Buy” and a consensus price target of $65.38.
A number of hedge funds have recently bought and sold shares of the business. Royal Bank of Canada increased its holdings in shares of Ormat Technologies by 1.7% during the second quarter. Royal Bank of Canada now owns 2,008 shares of the energy company’s stock valued at $117,000 after purchasing an additional 34 shares during the period. Psagot Investment House Ltd. grew its holdings in Ormat Technologies by 1.6% during the second quarter. Psagot Investment House Ltd. now owns 2,661 shares of the energy company’s stock worth $156,000 after acquiring an additional 43 shares during the period. Hanseatic Management Services Inc. grew its holdings in Ormat Technologies by 1.0% during the second quarter. Hanseatic Management Services Inc. now owns 4,940 shares of the energy company’s stock worth $290,000 after acquiring an additional 48 shares during the period. Sei Investments Co. grew its holdings in Ormat Technologies by 2.2% during the second quarter. Sei Investments Co. now owns 2,266 shares of the energy company’s stock worth $133,000 after acquiring an additional 49 shares during the period. Finally, Edmond DE Rothschild Holding S.A. grew its holdings in Ormat Technologies by 0.5% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 11,131 shares of the energy company’s stock worth $633,000 after acquiring an additional 60 shares during the period. Institutional investors own 46.41% of the company’s stock.
Ormat Technologies Company Profile
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.
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