Ormat Technologies, Inc. (NYSE:ORA) Insider Sells 167 Shares

Ormat Technologies, Inc. (NYSE:ORA) insider Jessica Woelfel sold 167 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $71.64, for a total value of $11,963.88. Following the transaction, the insider now directly 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 document filed with the SEC, which is available at the SEC website.

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

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

Ormat Technologies Price Performance

Shares of NYSE:ORA opened at $71.24 on Wednesday. The business has a 50-day simple moving average of $67.42 and a two-hundred day simple moving average of $72.90. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95. The firm has a market cap of $4.31 billion, a price-to-earnings ratio of 36.35, a price-to-earnings-growth ratio of 3.18 and a beta of 0.51. Ormat Technologies, Inc. has a fifty-two week low of $59.41 and a fifty-two week high of $84.30.

Ormat Technologies Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Robert W. Baird started coverage on shares of Ormat Technologies in a report on Thursday, March 13th. They issued a “neutral” rating and a $81.00 price objective on the stock. Piper Sandler started coverage on Ormat Technologies in a research report on Thursday, December 19th. They set a “neutral” rating and a $78.00 price objective for the company. Baird R W raised Ormat Technologies to a “hold” rating in a report on Thursday, March 13th. JPMorgan Chase & Co. raised their price target on Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, February 28th. Finally, Jefferies Financial Group upped their price target on shares of Ormat Technologies from $78.00 to $86.00 and gave the stock a “buy” rating in a research note on Tuesday. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $83.56.

Institutional Investors Weigh In On Ormat Technologies

A number of hedge funds have recently added to or reduced their stakes in ORA. Vanguard Group Inc. grew its holdings in shares of Ormat Technologies by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 6,043,996 shares of the energy company’s stock worth $409,305,000 after acquiring an additional 274,540 shares during the period. Impax Asset Management Group plc grew its stake in shares of Ormat Technologies by 7.3% during the 4th quarter. Impax Asset Management Group plc now owns 2,415,479 shares of the energy company’s stock valued at $162,586,000 after purchasing an additional 163,505 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Ormat Technologies by 6.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,586,479 shares of the energy company’s stock valued at $107,440,000 after purchasing an additional 93,418 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Ormat Technologies by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 1,373,426 shares of the energy company’s stock worth $93,029,000 after purchasing an additional 72,135 shares during the period. Finally, Norges Bank purchased a new position in shares of Ormat Technologies in the fourth quarter worth approximately $62,851,000. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

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.