Byron G. Wong Sells 1,266 Shares of Ormat Technologies, Inc. (NYSE:ORA) Stock

by · The Markets Daily

Ormat Technologies, Inc. (NYSE:ORA – Get Free Report) Director Byron G. Wong sold 1,266 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $74.98, for a total value of $94,924.68. Following the transaction, the director now owns 6,906 shares in the company, valued at approximately $517,811.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Ormat Technologies Price Performance

NYSE ORA opened at $75.69 on Wednesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.89 and a current ratio of 0.97. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 34.09, a PEG ratio of 3.68 and a beta of 0.53. The business has a 50 day simple moving average of $74.40 and a 200 day simple moving average of $71.03. Ormat Technologies, Inc. has a 52-week low of $58.73 and a 52-week high of $78.51.

Ormat Technologies (NYSE:ORA – Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.03. Ormat Technologies had a net margin of 14.89% and a return on equity of 5.40%. The company had revenue of $212.96 million during the quarter, compared to analysts’ expectations of $214.07 million. During the same quarter in the prior year, the company earned $0.40 earnings per share. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. Analysts anticipate that Ormat Technologies, Inc. will post 2.04 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend was Tuesday, August 20th. Ormat Technologies’s dividend payout ratio is 21.62%.

Institutional Trading of Ormat Technologies

A number of institutional investors have recently modified their holdings of ORA. EntryPoint Capital LLC acquired a new stake in Ormat Technologies in the 1st quarter valued at approximately $50,000. GAMMA Investing LLC lifted its position in shares of Ormat Technologies by 115.3% in the second quarter. GAMMA Investing LLC now owns 730 shares of the energy company’s stock worth $52,000 after purchasing an additional 391 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Ormat Technologies by 50.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,540 shares of the energy company’s stock worth $117,000 after purchasing an additional 514 shares during the last quarter. TFO Wealth Partners LLC grew its position in Ormat Technologies by 9,066.7% in the fourth quarter. TFO Wealth Partners LLC now owns 275 shares of the energy company’s stock valued at $227,000 after purchasing an additional 272 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in Ormat Technologies in the 1st quarter valued at $246,000. 95.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Oppenheimer increased their price target on shares of Ormat Technologies from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Roth Mkm reiterated a “buy” rating and issued a $80.00 target price on shares of Ormat Technologies in a report on Monday, August 12th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Ormat Technologies from $69.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $81.67.

Check Out Our Latest Report on ORA

About Ormat Technologies

(Get Free Report)

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.

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