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 on Monday, March 3rd. The stock was sold at an average price of $69.00, for a total value of $114,954.00. Following the sale, the director now owns 1,910 shares in the company, valued at approximately $131,790. The trade was a 46.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Ormat Technologies Price Performance

Shares of NYSE:ORA traded up $0.73 on Tuesday, hitting $69.46. The company had a trading volume of 496,333 shares, compared to its average volume of 465,337. The business has a 50 day moving average of $66.48 and a 200 day moving average of $73.17. Ormat Technologies, Inc. has a 52-week low of $59.41 and a 52-week high of $84.30. The company has a market cap of $4.20 billion, a PE ratio of 35.44, a PEG ratio of 3.18 and a beta of 0.57. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73.

Ormat Technologies Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have commented on the company. JPMorgan Chase & Co. boosted their target price on Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday. Oppenheimer boosted their target price on Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Roth Mkm reiterated 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. Piper Sandler began coverage on Ormat Technologies in a research report on Thursday, December 19th. They issued a “neutral” rating and a $78.00 price objective on the stock. Finally, Jefferies Financial Group upgraded Ormat Technologies from a “hold” rating to a “buy” rating and upped their price objective for the company from $73.00 to $78.00 in a research report on Thursday, February 20th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ormat Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $82.88.

Hedge Funds Weigh In On Ormat Technologies

Large investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc lifted its position in Ormat Technologies by 132.4% during the fourth quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock worth $27,000 after buying an additional 229 shares during the period. Stuart Chaussee & Associates Inc. purchased a new position in Ormat Technologies during the fourth quarter worth about $34,000. AlphaQuest LLC lifted its position in Ormat Technologies by 4,691.7% during the fourth quarter. AlphaQuest LLC now owns 575 shares of the energy company’s stock worth $39,000 after buying an additional 563 shares during the period. Headlands Technologies LLC purchased a new position in Ormat Technologies during the fourth quarter worth about $66,000. Finally, Mendota Financial Group LLC acquired a new stake in Ormat Technologies during the fourth quarter worth about $98,000. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

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.