Ormat Technologies, Inc. (NYSE:ORA) Director David Granot Sells 1,666 Shares

Ormat Technologies, Inc. (NYSE:ORA) Director David Granot sold 1,666 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $69.00, for a total transaction of $114,954.00. Following the completion of the sale, the director now directly owns 1,910 shares of the company’s stock, valued at approximately $131,790. The trade was a 46.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Ormat Technologies Stock Performance

NYSE:ORA opened at $69.32 on Friday. Ormat Technologies, Inc. has a twelve month low of $59.41 and a twelve month high of $84.30. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73. The stock’s 50-day simple moving average is $66.45 and its 200 day simple moving average is $73.11. The firm has a market capitalization of $4.19 billion, a PE ratio of 35.36, a price-to-earnings-growth ratio of 3.18 and a beta of 0.57.

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Wednesday, March 12th. Ormat Technologies’s dividend payout ratio (DPR) is presently 23.53%.

Analysts Set New Price Targets

ORA has been the subject of a number of recent research reports. Piper Sandler initiated coverage on shares of Ormat Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $78.00 price objective for the company. Oppenheimer increased their price target on Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. lifted their price objective on Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, February 28th. Jefferies Financial Group raised Ormat Technologies from a “hold” rating to a “buy” rating and increased their target price for the stock from $73.00 to $78.00 in a report on Thursday, February 20th. Finally, Roth Mkm restated a “buy” rating and issued a $92.00 price target (up previously from $87.00) on shares of Ormat Technologies in a research report on Friday, November 8th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $82.88.

Hedge Funds Weigh In On Ormat Technologies

A number of institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue grew its stake in shares of Ormat Technologies by 7.2% during the third quarter. State of Alaska Department of Revenue now owns 6,221 shares of the energy company’s stock worth $478,000 after buying an additional 420 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in shares of Ormat Technologies by 4.4% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 26,554 shares of the energy company’s stock valued at $2,043,000 after acquiring an additional 1,125 shares in the last quarter. Empower Advisory Group LLC boosted its holdings in shares of Ormat Technologies by 4.5% during the 3rd quarter. Empower Advisory Group LLC now owns 194,680 shares of the energy company’s stock valued at $14,979,000 after acquiring an additional 8,403 shares in the last quarter. Nicola Wealth Management LTD. grew its position in Ormat Technologies by 10.0% during the 3rd quarter. Nicola Wealth Management LTD. now owns 44,000 shares of the energy company’s stock worth $3,385,000 after acquiring an additional 4,000 shares during the last quarter. Finally, Mizuho Markets Americas LLC increased its holdings in Ormat Technologies by 5.8% in the 3rd quarter. Mizuho Markets Americas LLC now owns 151,211 shares of the energy company’s stock worth $11,634,000 after purchasing an additional 8,317 shares in the last quarter. 95.49% of the stock is currently owned by institutional investors and hedge funds.

About Ormat Technologies

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.