Ormat Technologies, Inc. (NYSE:ORA) Insider Sells $11,963.88 in Stock

Ormat Technologies, Inc. (NYSE:ORA) insider Jessica Woelfel sold 167 shares of Ormat Technologies stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $71.64, for a total transaction of $11,963.88. Following the completion of the transaction, the insider now owns 6,490 shares of the company’s stock, valued at $464,943.60. This represents a 2.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Jessica Woelfel also recently made the following trade(s):

• On Tuesday, March 18th, Jessica Woelfel sold 409 shares of Ormat Technologies stock. The shares were sold at an average price of $72.15, for a total transaction of $29,509.35.

Ormat Technologies Stock Up 0.1 %

Shares of NYSE ORA traded up $0.09 during trading hours on Tuesday, hitting $71.24. The company had a trading volume of 502,444 shares, compared to its average volume of 471,287. Ormat Technologies, Inc. has a 1-year low of $59.41 and a 1-year high of $84.30. The stock has a market capitalization of $4.31 billion, a P/E ratio of 36.35, a price-to-earnings-growth ratio of 3.18 and a beta of 0.51. The firm’s 50 day moving average is $67.42 and its 200-day moving average is $72.90. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73.

Ormat Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.67%. Ormat Technologies’s payout ratio is 23.53%.

Hedge Funds Weigh In On Ormat Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the business. Jefferies Financial Group Inc. acquired a new position in Ormat Technologies during the 4th quarter worth about $372,000. Polar Asset Management Partners Inc. acquired a new position in shares of Ormat Technologies in the 4th quarter worth approximately $5,079,000. Squarepoint Ops LLC bought a new stake in shares of Ormat Technologies in the 4th quarter valued at $3,042,000. Twinbeech Capital LP acquired a new stake in shares of Ormat Technologies during the fourth quarter worth $453,000. Finally, Stuart Chaussee & Associates Inc. acquired a new stake in shares of Ormat Technologies during the fourth quarter worth $34,000. Institutional investors own 95.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ORA shares. Robert W. Baird began coverage on shares of Ormat Technologies in a research report on Thursday, March 13th. They issued a “neutral” rating and a $81.00 price objective for the company. Piper Sandler assumed coverage on Ormat Technologies in a research report on Thursday, December 19th. They set a “neutral” rating and a $78.00 price target for the company. Jefferies Financial Group lifted their target price on shares of Ormat Technologies from $78.00 to $86.00 and gave the stock a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their target price on shares of Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, February 28th. Finally, Baird R W upgraded Ormat Technologies to a “hold” rating in a report on Thursday, March 13th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $83.56.

About Ormat Technologies

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.