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

Ormat Technologies, Inc. (NYSE:ORA) Director Byron G. Wong sold 1,266 shares of Ormat Technologies stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.98, for a total transaction of $94,924.68. Following the sale, the director now directly owns 6,906 shares of the company’s stock, valued at approximately $517,811.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Ormat Technologies Trading Up 0.2 %

Shares of NYSE ORA traded up $0.13 during midday trading on Monday, reaching $75.66. 303,222 shares of the stock were exchanged, compared to its average volume of 444,731. The business has a 50-day simple moving average of $74.36 and a two-hundred day simple moving average of $70.91. The company has a market capitalization of $4.57 billion, a price-to-earnings ratio of 34.02, a P/E/G ratio of 3.68 and a beta of 0.53. Ormat Technologies, Inc. has a 12 month low of $58.73 and a 12 month high of $78.51. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.97 and a quick ratio of 0.89.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings data on Tuesday, August 6th. The energy company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.37 by $0.03. The business had revenue of $212.96 million for the quarter, compared to analysts’ expectations of $214.07 million. Ormat Technologies had a net margin of 14.89% and a return on equity of 5.40%. The firm’s revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 EPS. As a group, equities research analysts expect that Ormat Technologies, Inc. will post 2.04 EPS for the current year.

Ormat Technologies Announces Dividend

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

Institutional Investors Weigh In On Ormat Technologies

Several institutional investors have recently added to or reduced their stakes in the stock. TFO Wealth Partners LLC lifted its position in Ormat Technologies by 9,066.7% during the 4th quarter. TFO Wealth Partners LLC now owns 275 shares of the energy company’s stock worth $227,000 after buying an additional 272 shares in the last quarter. GAMMA Investing LLC lifted its position in Ormat Technologies by 115.3% during the 2nd quarter. GAMMA Investing LLC now owns 730 shares of the energy company’s stock worth $52,000 after buying an additional 391 shares in the last quarter. EntryPoint Capital LLC bought a new stake in Ormat Technologies during the 1st quarter worth about $50,000. PNC Financial Services Group Inc. lifted its position in Ormat Technologies by 50.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,540 shares of the energy company’s stock worth $117,000 after buying an additional 514 shares in the last quarter. Finally, nVerses Capital LLC lifted its position in Ormat Technologies by 311.1% during the 2nd quarter. nVerses Capital LLC now owns 3,700 shares of the energy company’s stock worth $265,000 after buying an additional 2,800 shares in the last quarter. 95.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

ORA has been the subject of a number of analyst reports. Oppenheimer lifted their target price on shares of Ormat Technologies from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Roth Mkm reaffirmed a “buy” rating and set a $80.00 target price on shares of Ormat Technologies in a report on Monday, August 12th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Ormat Technologies from $69.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $81.67.

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.