Ormat Technologies (NYSE:ORA) Insider Jessica Woelfel Sells 869 Shares of Stock

Ormat Technologies, Inc. (NYSE:ORA) insider Jessica Woelfel sold 869 shares of Ormat Technologies stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $104.59, for a total value of $90,888.71. Following the sale, the insider directly owned 5,792 shares of the company’s stock, valued at $605,785.28. This represents a 13.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Jessica Woelfel also recently made the following trade(s):

• On Tuesday, March 3rd, Jessica Woelfel sold 2,359 shares of Ormat Technologies stock. The stock was sold at an average price of $105.16, for a total transaction of $248,072.44.

Ormat Technologies Stock Performance

Ormat Technologies stock traded down $1.48 during midday trading on Thursday, hitting $106.30. The company’s stock had a trading volume of 178,509 shares, compared to its average volume of 689,404. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.81 and a quick ratio of 0.75. The company has a market cap of $6.47 billion, a price-to-earnings ratio of 52.89, a PEG ratio of 4.38 and a beta of 0.84. Ormat Technologies, Inc. has a 1-year low of $64.39 and a 1-year high of $132.58. The company has a 50-day moving average price of $118.10 and a two-hundred day moving average price of $108.60.

Ormat Technologies (NYSE:ORA) last announced its earnings results on Wednesday, February 25th. The energy company reported $0.67 EPS for the quarter, hitting the consensus estimate of $0.67. The company had revenue of $276.04 million for the quarter, compared to analysts’ expectations of $257.75 million. Ormat Technologies had a net margin of 12.52% and a return on equity of 5.21%. The business’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same period last year, the firm earned $0.67 earnings per share. As a group, sell-side analysts predict that Ormat Technologies, Inc. will post 1.94 earnings per share for the current year.

Ormat Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Tuesday, March 10th. Ormat Technologies’s dividend payout ratio is presently 23.88%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Piper Sandler boosted their price target on Ormat Technologies from $102.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Oppenheimer raised their target price on shares of Ormat Technologies from $125.00 to $136.00 and gave the company an “outperform” rating in a report on Tuesday, January 27th. Roth Mkm set a $139.00 target price on Ormat Technologies in a report on Wednesday, January 28th. Weiss Ratings restated a “hold (c)” rating on shares of Ormat Technologies in a research note on Thursday, January 22nd. Finally, Robert W. Baird decreased their target price on shares of Ormat Technologies from $143.00 to $130.00 and set an “outperform” rating on the stock in a research note on Friday, February 27th. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Ormat Technologies has a consensus rating of “Moderate Buy” and an average price target of $129.09.

Institutional Investors Weigh In On Ormat Technologies

A number of large investors have recently modified their holdings of ORA. Aster Capital Management DIFC Ltd purchased a new stake in Ormat Technologies in the fourth quarter worth about $26,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Ormat Technologies in the 4th quarter valued at approximately $31,000. Los Angeles Capital Management LLC bought a new stake in shares of Ormat Technologies during the fourth quarter valued at approximately $32,000. Wolff Wiese Magana LLC bought a new stake in shares of Ormat Technologies during the fourth quarter valued at approximately $33,000. Finally, Smartleaf Asset Management LLC raised its holdings in Ormat Technologies by 245.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 297 shares of the energy company’s stock worth $33,000 after purchasing an additional 211 shares in the last quarter. Institutional investors own 95.49% of the company’s stock.

About Ormat Technologies

Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company’s core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.

Ormat’s offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.