Ormat Technologies, Inc. (NYSE:ORA) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 594,800 shares, a growth of 7.3% from the September 30th total of 554,400 shares. Based on an average daily trading volume, of 185,200 shares, the short-interest ratio is presently 3.2 days. Currently, 1.3% of the company’s shares are sold short.

ORA stock traded up $0.13 during midday trading on Monday, hitting $76.58. 109,826 shares of the company’s stock were exchanged, compared to its average volume of 162,204. The stock’s fifty day moving average price is $75.41 and its 200-day moving average price is $68.08. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.11 and a current ratio of 1.23. The company has a market cap of $3.92 billion, a PE ratio of 36.82, a price-to-earnings-growth ratio of 3.91 and a beta of 1.03. Ormat Technologies has a one year low of $49.70 and a one year high of $79.18.

Ormat Technologies (NYSE:ORA) last posted its earnings results on Wednesday, November 6th. The energy company reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.03). The business had revenue of $170.50 million for the quarter, compared to the consensus estimate of $171.11 million. Ormat Technologies had a return on equity of 6.00% and a net margin of 12.59%. The business’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.31 earnings per share. On average, analysts expect that Ormat Technologies will post 1.77 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.44 annualized dividend and a yield of 0.57%. Ormat Technologies’s dividend payout ratio is presently 21.15%.

In other news, VP Zvi Krieger sold 668 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $76.88, for a total value of $51,355.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Ravit Barniv sold 1,714 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $73.07, for a total value of $125,241.98. Following the completion of the transaction, the director now owns 2,473 shares in the company, valued at $180,702.11. The disclosure for this sale can be found here. Insiders sold a total of 15,668 shares of company stock worth $1,146,476 over the last quarter. Corporate insiders own 0.63% of the company’s stock.

A number of hedge funds have recently bought and sold shares of ORA. Nisa Investment Advisors LLC lifted its holdings in Ormat Technologies by 6.3% during the second quarter. Nisa Investment Advisors LLC now owns 17,000 shares of the energy company’s stock worth $1,078,000 after acquiring an additional 1,000 shares in the last quarter. Bessemer Group Inc. bought a new position in Ormat Technologies during the second quarter worth about $3,385,000. Somerville Kurt F lifted its holdings in Ormat Technologies by 7.1% during the second quarter. Somerville Kurt F now owns 13,255 shares of the energy company’s stock worth $840,000 after acquiring an additional 875 shares in the last quarter. Strs Ohio lifted its holdings in Ormat Technologies by 130.0% during the second quarter. Strs Ohio now owns 2,300 shares of the energy company’s stock worth $145,000 after acquiring an additional 1,300 shares in the last quarter. Finally, Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD bought a new position in Ormat Technologies during the second quarter worth about $4,088,000. Hedge funds and other institutional investors own 74.51% of the company’s stock.

Several research analysts have recently issued reports on the company. ValuEngine lowered Ormat Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Roth Capital lowered Ormat Technologies from a “buy” rating to a “neutral” rating and set a $78.00 price target on the stock. in a research report on Monday, November 11th. They noted that the move was a valuation call. UBS Group raised their price target on Ormat Technologies from $59.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Cowen lowered Ormat Technologies from an “outperform” rating to a “market perform” rating and set a $76.00 price target on the stock. in a research report on Thursday, October 24th. Finally, Zacks Investment Research upgraded Ormat Technologies from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research report on Monday, October 21st. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $73.40.

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, New Zealand, and internationally. The company operates through three segments: Electricity, Product, and Other. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity.

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