Ormat Technologies (NYSE:ORA) Share Price Passes Above 200 Day Moving Average of $68.75

Ormat Technologies, Inc. (NYSE:ORA) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $68.75 and traded as high as $74.17. Ormat Technologies shares last traded at $73.10, with a volume of 476,839 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ORA shares. TD Cowen upped their target price on Ormat Technologies from $70.00 to $76.00 and gave the stock a “hold” rating in a research report on Friday, May 10th. Barclays cut their price objective on Ormat Technologies from $75.00 to $73.00 and set an “equal weight” rating for the company in a report on Monday, May 13th. Finally, UBS Group lifted their target price on Ormat Technologies from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $83.83.

Ormat Technologies Stock Down 0.2 %

The company has a market capitalization of $4.42 billion, a price-to-earnings ratio of 32.93, a price-to-earnings-growth ratio of 3.57 and a beta of 0.53. The company has a quick ratio of 1.02, a current ratio of 1.12 and a debt-to-equity ratio of 0.73. The business has a 50-day moving average price of $69.77 and a 200-day moving average price of $68.75.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings data on Wednesday, May 8th. The energy company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.03). Ormat Technologies had a return on equity of 5.45% and a net margin of 15.43%. The company had revenue of $224.17 million for the quarter, compared to analyst estimates of $224.38 million. As a group, equities analysts anticipate that Ormat Technologies, Inc. will post 2.07 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend was Tuesday, May 21st. Ormat Technologies’s dividend payout ratio is 21.62%.

Insiders Place Their Bets

In related news, Director David Granot sold 686 shares of the stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $73.46, for a total value of $50,393.56. Following the completion of the sale, the director now directly owns 4,832 shares of the company’s stock, valued at approximately $354,958.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Stanley Stern sold 1,825 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $66.95, for a total transaction of $122,183.75. Following the completion of the sale, the director now directly owns 4,835 shares in the company, valued at $323,703.25. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director David Granot sold 686 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $73.46, for a total value of $50,393.56. Following the completion of the transaction, the director now owns 4,832 shares in the company, valued at approximately $354,958.72. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Ormat Technologies

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Ormat Technologies by 1.2% during the first quarter. Vanguard Group Inc. now owns 5,388,571 shares of the energy company’s stock valued at $356,670,000 after acquiring an additional 63,943 shares in the last quarter. Impax Asset Management Group plc lifted its stake in shares of Ormat Technologies by 15.0% in the 4th quarter. Impax Asset Management Group plc now owns 2,638,182 shares of the energy company’s stock valued at $199,004,000 after purchasing an additional 343,650 shares during the last quarter. Global Alpha Capital Management Ltd. boosted its holdings in Ormat Technologies by 9.3% in the fourth quarter. Global Alpha Capital Management Ltd. now owns 2,313,856 shares of the energy company’s stock worth $177,552,000 after purchasing an additional 196,517 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Ormat Technologies by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,256,304 shares of the energy company’s stock worth $95,220,000 after buying an additional 31,450 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in Ormat Technologies by 3.5% during the fourth quarter. Wellington Management Group LLP now owns 1,041,169 shares of the energy company’s stock valued at $78,910,000 after buying an additional 35,665 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.