Ormat Technologies, Inc. (ORA) EVP Bob Sullivan Sells 9,890 Shares
Ormat Technologies, Inc. (NYSE:ORA) EVP Bob Sullivan sold 9,890 shares of the firm’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $62.89, for a total transaction of $621,982.10. Following the transaction, the executive vice president now directly owns 9,890 shares of the company’s stock, valued at $621,982.10. The sale was disclosed in a document filed with the SEC, which is available through this link.
Ormat Technologies, Inc. (NYSE:ORA) traded down 3.72% on Friday, hitting $61.05. 323,918 shares of the stock traded hands. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of 27.85 and a beta of 1.20. The stock has a 50-day moving average of $57.21 and a 200-day moving average of $58.00. Ormat Technologies, Inc. has a 12-month low of $45.30 and a 12-month high of $63.41.
Ormat Technologies (NYSE:ORA) last announced its quarterly earnings results on Thursday, August 3rd. The energy company reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.03. The firm had revenue of $179.36 million for the quarter, compared to analyst estimates of $169.80 million. Ormat Technologies had a net margin of 15.36% and a return on equity of 10.25%. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 EPS. Analysts forecast that Ormat Technologies, Inc. will post $2.29 earnings per share for the current year.
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Several research analysts have weighed in on ORA shares. J P Morgan Chase & Co raised shares of Ormat Technologies from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $65.00 to $71.00 in a report on Wednesday, June 7th. BidaskClub raised shares of Ormat Technologies from a “hold” rating to a “buy” rating in a report on Saturday, June 10th. Cowen and Company set a $67.00 price objective on shares of Ormat Technologies and gave the stock a “buy” rating in a report on Monday, July 17th. Zacks Investment Research raised shares of Ormat Technologies from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a report on Tuesday, August 8th. Finally, TheStreet lowered shares of Ormat Technologies from a “b” rating to a “c+” rating in a report on Monday, August 14th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $66.00.
A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Ormat Technologies by 4.4% in the 2nd quarter. Vanguard Group Inc. now owns 3,366,355 shares of the energy company’s stock valued at $197,538,000 after buying an additional 142,724 shares during the period. BlackRock Inc. increased its holdings in Ormat Technologies by 6,068.3% in the 1st quarter. BlackRock Inc. now owns 2,473,872 shares of the energy company’s stock valued at $141,210,000 after buying an additional 2,433,766 shares during the period. Dimensional Fund Advisors LP increased its holdings in Ormat Technologies by 6.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,526,801 shares of the energy company’s stock valued at $89,594,000 after buying an additional 96,288 shares during the period. Renaissance Technologies LLC increased its holdings in Ormat Technologies by 17.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,085,257 shares of the energy company’s stock valued at $63,683,000 after buying an additional 164,100 shares during the period. Finally, State Street Corp increased its holdings in Ormat Technologies by 7.5% in the 2nd quarter. State Street Corp now owns 778,621 shares of the energy company’s stock valued at $45,685,000 after buying an additional 54,489 shares during the period. 46.41% of the stock is currently owned by hedge funds and other institutional investors.
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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