Ormat Technologies, Inc. (NYSE:ORA) Director Dafna Sharir sold 439 shares of the company’s stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $52.00, for a total value of $22,828.00. Following the transaction, the director now directly owns 874 shares in the company, valued at $45,448. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
NYSE ORA traded down $0.58 on Friday, reaching $52.90. The stock had a trading volume of 2,867 shares, compared to its average volume of 197,466. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.16 and a quick ratio of 1.05. Ormat Technologies, Inc. has a 1 year low of $45.79 and a 1 year high of $70.68. The company has a market capitalization of $2.51 billion, a P/E ratio of 17.68, a price-to-earnings-growth ratio of 2.68 and a beta of 1.46.
Ormat Technologies (NYSE:ORA) last issued its earnings results on Tuesday, November 6th. The energy company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.13). Ormat Technologies had a net margin of 17.39% and a return on equity of 8.96%. The firm had revenue of $166.50 million during the quarter, compared to analysts’ expectations of $172.97 million. During the same quarter last year, the firm earned $0.42 EPS. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, equities analysts anticipate that Ormat Technologies, Inc. will post 1.68 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 4th. Shareholders of record on Tuesday, November 20th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Monday, November 19th. This represents a $0.40 dividend on an annualized basis and a yield of 0.76%. Ormat Technologies’s dividend payout ratio (DPR) is currently 13.38%.
A number of hedge funds and other institutional investors have recently modified their holdings of ORA. Smithfield Trust Co. purchased a new position in Ormat Technologies in the second quarter valued at about $129,000. Cubist Systematic Strategies LLC purchased a new position in Ormat Technologies in the first quarter valued at about $182,000. Green Square Capital LLC purchased a new position in Ormat Technologies in the second quarter valued at about $298,000. Royal Bank of Canada grew its stake in Ormat Technologies by 103.6% in the first quarter. Royal Bank of Canada now owns 5,445 shares of the energy company’s stock valued at $307,000 after purchasing an additional 2,771 shares in the last quarter. Finally, Yorktown Management & Research Co Inc grew its stake in Ormat Technologies by 23.9% in the third quarter. Yorktown Management & Research Co Inc now owns 5,700 shares of the energy company’s stock valued at $308,000 after purchasing an additional 1,100 shares in the last quarter. Hedge funds and other institutional investors own 72.70% of the company’s stock.
Several research analysts recently weighed in on the company. ValuEngine raised Ormat Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, October 24th. Zacks Investment Research raised Ormat Technologies from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Wednesday, July 18th. TheStreet lowered Ormat Technologies from a “b-” rating to a “c+” rating in a research report on Thursday, August 9th. Finally, JPMorgan Chase & Co. raised Ormat Technologies from a “neutral” rating to an “overweight” rating and dropped their price target for the company from $64.00 to $60.00 in a research report on Thursday, August 9th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Ormat Technologies currently has a consensus rating of “Hold” and a consensus target price of $64.80.
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Ormat Technologies Company Profile
Ormat Technologies, Inc engages in the geothermal and recovered energy power business worldwide. The company operates through Electricity and Product segments. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity. This segment also offers energy storage, demand response, and energy management related services.
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