Ormat Technologies, Inc. (NYSE:ORA) Director David Granot Sells 1,256 Shares

Ormat Technologies, Inc. (NYSE:ORA) Director David Granot sold 1,256 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $82.00, for a total transaction of $102,992.00. Following the transaction, the director now owns 3,576 shares of the company’s stock, valued at $293,232. This represents a 25.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Ormat Technologies Stock Down 2.6 %

ORA traded down $2.13 during trading on Tuesday, reaching $79.58. 523,898 shares of the stock traded hands, compared to its average volume of 435,600. 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, Inc. has a fifty-two week low of $59.41 and a fifty-two week high of $84.30. The stock’s 50-day simple moving average is $79.01 and its two-hundred day simple moving average is $75.63. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of 41.68, a price-to-earnings-growth ratio of 4.22 and a beta of 0.53.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings data on Wednesday, November 6th. The energy company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. The firm had revenue of $211.80 million for the quarter, compared to the consensus estimate of $215.53 million. Ormat Technologies had a return on equity of 5.27% and a net margin of 13.33%. The firm’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.47 earnings per share. As a group, equities research analysts expect that Ormat Technologies, Inc. will post 1.93 EPS for the current year.

Ormat Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date is Wednesday, November 20th. Ormat Technologies’s dividend payout ratio is presently 24.49%.

Analyst Ratings Changes

Several research firms have commented on ORA. Roth Mkm restated a “buy” rating and issued a $92.00 target price (up previously from $87.00) on shares of Ormat Technologies in a research report on Friday, November 8th. Oppenheimer increased their price target on Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.50.

Hedge Funds Weigh In On Ormat Technologies

Hedge funds have recently bought and sold shares of the business. Blue Trust Inc. boosted its stake in shares of Ormat Technologies by 180.3% during the 3rd quarter. Blue Trust Inc. now owns 356 shares of the energy company’s stock worth $26,000 after acquiring an additional 229 shares in the last quarter. UMB Bank n.a. boosted its position in Ormat Technologies by 107.7% during the third quarter. UMB Bank n.a. now owns 617 shares of the energy company’s stock worth $47,000 after purchasing an additional 320 shares during the period. GAMMA Investing LLC grew its holdings in Ormat Technologies by 115.3% during the second quarter. GAMMA Investing LLC now owns 730 shares of the energy company’s stock valued at $52,000 after purchasing an additional 391 shares during the last quarter. DMC Group LLC bought a new position in shares of Ormat Technologies in the third quarter valued at approximately $204,000. Finally, Virtu Financial LLC acquired a new stake in shares of Ormat Technologies in the first quarter worth $246,000. 95.49% of the stock is owned by institutional investors and hedge funds.

Ormat Technologies Company Profile

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.