Ormat Technologies, Inc. (NYSE:ORA) Director Isaac Angel Sells 429 Shares of Stock

Ormat Technologies, Inc. (NYSE:ORA) Director Isaac Angel sold 429 shares of the stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $75.57, for a total value of $32,419.53. Following the sale, the director now directly owns 41,933 shares in the company, valued at approximately $3,168,876.81. The sale was disclosed in a document filed with the SEC, which is available at this link.

Isaac Angel also recently made the following trade(s):

• On Tuesday, September 5th, Isaac Angel sold 26,144 shares of Ormat Technologies stock. The shares were sold at an average price of $75.50, for a total value of $1,973,872.00.
• On Friday, September 1st, Isaac Angel sold 25,144 shares of Ormat Technologies stock. The shares were sold at an average price of $75.60, for a total value of $1,900,886.40.

Ormat Technologies Price Performance

NYSE:ORA opened at $74.87 on Tuesday. Ormat Technologies, Inc. has a 52 week low of $74.09 and a 52 week high of $101.81. The company has a quick ratio of 1.69, a current ratio of 1.79 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $4.51 billion, a PE ratio of 48.30, a price-to-earnings-growth ratio of 1.52 and a beta of 0.45. The stock’s 50-day moving average price is $78.75 and its 200-day moving average price is $82.55.

Ormat Technologies (NYSE:ORA) last posted its earnings results on Wednesday, August 2nd. The energy company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. Ormat Technologies had a return on equity of 5.17% and a net margin of 11.74%. The firm had revenue of $194.80 million for the quarter, compared to analysts’ expectations of $196.74 million. During the same period last year, the firm earned $0.22 EPS. The company’s quarterly revenue was up 15.2% on a year-over-year basis. As a group, equities analysts expect that Ormat Technologies, Inc. will post 2.14 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 30th. Investors of record on Wednesday, August 16th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend was Tuesday, August 15th. Ormat Technologies’s payout ratio is 30.97%.

Analyst Upgrades and Downgrades

ORA has been the topic of several recent research reports. Bank of America increased their target price on Ormat Technologies from $85.00 to $87.00 in a research report on Wednesday, June 14th. StockNews.com started coverage on Ormat Technologies in a report on Thursday, August 17th. They set a “sell” rating for the company. Roth Mkm upgraded Ormat Technologies from a “neutral” rating to a “buy” rating and set a $92.00 price objective for the company in a report on Monday, August 7th. Roth Capital upgraded Ormat Technologies from a “neutral” rating to a “buy” rating in a report on Monday, August 7th. Finally, JPMorgan Chase & Co. increased their price objective on Ormat Technologies from $86.00 to $89.00 in a report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $92.29.

Institutional Investors Weigh In On Ormat Technologies

Institutional investors have recently bought and sold shares of the company. Ruedi Wealth Management Inc. purchased a new position in Ormat Technologies in the 4th quarter worth approximately $28,000. IFP Advisors Inc raised its position in Ormat Technologies by 248.0% in the second quarter. IFP Advisors Inc now owns 428 shares of the energy company’s stock valued at $34,000 after purchasing an additional 305 shares during the period. Belpointe Asset Management LLC purchased a new stake in Ormat Technologies in the fourth quarter valued at approximately $36,000. Agur Provident & Training Funds Management Ltd. acquired a new position in shares of Ormat Technologies in the first quarter worth $41,000. Finally, Fifth Third Bancorp grew its stake in shares of Ormat Technologies by 375.7% in the first quarter. Fifth Third Bancorp now owns 823 shares of the energy company’s stock worth $70,000 after acquiring an additional 650 shares in the last quarter. 88.24% of the stock is currently owned by institutional investors and hedge funds.

About Ormat Technologies

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guadeloupe, Guatemala, Ethiopia, New Zealand, Honduras, and internationally. It operates through 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.