Gillon Beck Sells 390,000 Shares of Ormat Technologies Inc. (ORA) Stock
Ormat Technologies Inc. (NYSE:ORA) Director Gillon Beck sold 390,000 shares of the stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $48.64, for a total value of $18,969,600.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Shares of Ormat Technologies Inc. (NYSE:ORA) opened at 48.41 on Friday. The stock has a market capitalization of $2.40 billion, a P/E ratio of 16.09 and a beta of 1.16. Ormat Technologies Inc. has a 52-week low of $32.25 and a 52-week high of $51.19. The firm has a 50-day moving average price of $48.72 and a 200-day moving average price of $44.63.
Ormat Technologies (NYSE:ORA) last issued its earnings results on Tuesday, August 2nd. The company reported $0.49 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.07. The business had revenue of $159.90 million for the quarter, compared to analyst estimates of $152.88 million. Ormat Technologies had a net margin of 23.05% and a return on equity of 9.18%. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period last year, the company posted $0.28 earnings per share. On average, analysts predict that Ormat Technologies Inc. will post $1.91 EPS for the current year.
ORA has been the subject of a number of research analyst reports. Roth Capital initiated coverage on Ormat Technologies in a research report on Thursday, July 28th. They set a “buy” rating and a $50.00 price target for the company. JPMorgan Chase & Co. reissued a “hold” rating on shares of Ormat Technologies in a research report on Wednesday, August 3rd. Oppenheimer Holdings Inc. assumed coverage on Ormat Technologies in a research report on Thursday, September 8th. They issued an “outperform” rating and a $54.00 target price for the company. Finally, Zacks Investment Research raised Ormat Technologies from a “hold” rating to a “strong-buy” rating and set a $55.00 target price for the company in a research report on Saturday, August 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Ormat Technologies has an average rating of “Buy” and an average target price of $46.80.
Several institutional investors have recently modified their holdings of ORA. Old Mutual Global Investors UK Ltd. bought a new position in shares of Ormat Technologies during the second quarter worth approximately $216,000. NN Investment Partners Holdings N.V. raised its position in shares of Ormat Technologies by 7.5% in the second quarter. NN Investment Partners Holdings N.V. now owns 24,084 shares of the company’s stock valued at $1,054,000 after buying an additional 1,684 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Ormat Technologies by 13.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,004,355 shares of the company’s stock valued at $41,420,000 after buying an additional 116,906 shares during the last quarter. Zebra Capital Management LLC raised its position in shares of Ormat Technologies by 53.9% in the first quarter. Zebra Capital Management LLC now owns 17,271 shares of the company’s stock valued at $712,000 after buying an additional 6,049 shares during the last quarter. Finally, Menta Capital LLC raised its position in shares of Ormat Technologies by 210.9% in the first quarter. Menta Capital LLC now owns 29,561 shares of the company’s stock valued at $1,219,000 after buying an additional 20,053 shares during the last quarter. 41.27% of the stock is currently owned by institutional investors and hedge funds.
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. The Company’s equipment manufacturing operations are located in Israel. The Company conducts its business activities in two business segments: Electricity segment and Product segment.
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