Ormat Technologies Target of Unusually Large Options Trading (NYSE:ORA)

Ormat Technologies, Inc. (NYSE:ORA) was the recipient of some unusual options trading activity on Tuesday. Stock investors purchased 4,007 call options on the stock. This represents an increase of 1,093% compared to the average volume of 336 call options.

Insider Buying and Selling at Ormat Technologies

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

Institutional Investors Weigh In On Ormat Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Evexia Wealth LLC increased its stake in Ormat Technologies by 2.7% during the 4th quarter. Evexia Wealth LLC now owns 6,096 shares of the energy company’s stock worth $462,000 after acquiring an additional 160 shares during the period. Retirement Systems of Alabama increased its position in shares of Ormat Technologies by 0.3% in the first quarter. Retirement Systems of Alabama now owns 67,453 shares of the energy company’s stock worth $4,465,000 after purchasing an additional 177 shares during the period. Harrington Investments INC increased its position in shares of Ormat Technologies by 3.2% in the fourth quarter. Harrington Investments INC now owns 6,510 shares of the energy company’s stock worth $493,000 after purchasing an additional 200 shares during the period. New York State Teachers Retirement System raised its stake in Ormat Technologies by 0.6% in the first quarter. New York State Teachers Retirement System now owns 31,880 shares of the energy company’s stock valued at $2,110,000 after purchasing an additional 200 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its position in Ormat Technologies by 5.1% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 5,014 shares of the energy company’s stock worth $380,000 after purchasing an additional 242 shares during the period. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Ormat Technologies Stock Performance

Shares of NYSE ORA opened at $73.17 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.12 and a quick ratio of 1.02. The firm has a market cap of $4.42 billion, a price-to-earnings ratio of 32.96, a P/E/G ratio of 3.50 and a beta of 0.53. The stock’s fifty day moving average price is $70.71 and its two-hundred day moving average price is $68.84. Ormat Technologies has a one year low of $58.73 and a one year high of $85.82.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings results on Wednesday, May 8th. The energy company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.03). Ormat Technologies had a net margin of 15.43% and a return on equity of 5.45%. The business had revenue of $224.17 million during the quarter, compared to analyst estimates of $224.38 million. On average, equities analysts forecast that Ormat Technologies will post 2.07 EPS for the current year.

Ormat Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd were issued a dividend of $0.12 per share. The ex-dividend date was Tuesday, May 21st. This represents a $0.48 annualized dividend and a dividend yield of 0.66%. Ormat Technologies’s dividend payout ratio is presently 21.62%.

Analysts Set New Price Targets

ORA has been the topic of several research analyst reports. TD Cowen upped their price objective on Ormat Technologies from $70.00 to $76.00 and gave the company a “hold” rating in a research note on Friday, May 10th. Barclays cut their price target 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. UBS Group upped their price objective on shares of Ormat Technologies from $95.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Finally, Oppenheimer increased their price objective on shares of Ormat Technologies from $83.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, June 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $84.17.

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, 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.