Insider Selling: Ormat Technologies, Inc. (NYSE:ORA) Director Sells $102,992.00 in Stock

Ormat Technologies, Inc. (NYSE:ORA) Director David Granot sold 1,256 shares of Ormat Technologies stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $82.00, for a total value of $102,992.00. Following the sale, the director now owns 3,576 shares in the company, valued at $293,232. This trade represents a 25.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Ormat Technologies Price Performance

NYSE ORA opened at $78.20 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87. The stock’s fifty day moving average price is $79.15 and its 200 day moving average price is $75.72. Ormat Technologies, Inc. has a 1 year low of $59.41 and a 1 year high of $84.30. The company has a market cap of $4.73 billion, a price-to-earnings ratio of 39.90, a PEG ratio of 4.12 and a beta of 0.53.

Ormat Technologies (NYSE:ORA) last posted its earnings results on Wednesday, November 6th. The energy company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.05. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The business had revenue of $211.80 million for the quarter, compared to analyst estimates of $215.53 million. During the same period in the prior year, the company posted $0.47 EPS. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, equities research analysts forecast that Ormat Technologies, Inc. will post 1.93 earnings per share for the current year.

Ormat Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, November 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.61%. Ormat Technologies’s dividend payout ratio is currently 24.49%.

Institutional Trading of Ormat Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Y.D. More Investments Ltd lifted its position in shares of Ormat Technologies by 1,011.5% during the 2nd quarter. Y.D. More Investments Ltd now owns 493,619 shares of the energy company’s stock worth $34,943,000 after purchasing an additional 449,209 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in shares of Ormat Technologies in the third quarter valued at about $19,096,000. Global Alpha Capital Management Ltd. lifted its stake in shares of Ormat Technologies by 6.1% during the third quarter. Global Alpha Capital Management Ltd. now owns 2,446,624 shares of the energy company’s stock valued at $188,125,000 after buying an additional 140,882 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Ormat Technologies by 6.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,450,797 shares of the energy company’s stock valued at $104,030,000 after buying an additional 86,291 shares during the period. Finally, Summit Partners Public Asset Management LLC increased its position in Ormat Technologies by 16.7% during the third quarter. Summit Partners Public Asset Management LLC now owns 350,000 shares of the energy company’s stock worth $26,929,000 after purchasing an additional 50,000 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Roth Mkm restated a “buy” rating and set a $92.00 target price (up from $87.00) on shares of Ormat Technologies in a research report on Friday, November 8th. Oppenheimer upped their price target on Ormat Technologies from $86.00 to $91.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $84.50.

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.