Key Points
- Insider sale: Jessica Woelfel sold 2,359 Ormat shares on March 3 at an average price of $105.16 for $248,072.44 (after selling 869 shares on March 2), leaving her with 3,433 shares — a 40.73% reduction in her ownership.
- Company results & outlook: Ormat posted $0.67 EPS (in line) and $276.04M revenue (beat; +19.6% YoY), declared a $0.12 quarterly dividend (0.4% yield), and carries a consensus "Moderate Buy" rating with a $129.09 price target.
Ormat Technologies, Inc. (NYSE:ORA - Get Free Report) insider Jessica Woelfel sold 2,359 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $105.16, for a total value of $248,072.44. Following the completion of the sale, the insider directly owned 3,433 shares of the company's stock, valued at $361,014.28. This represents a 40.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Jessica Woelfel also recently made the following trade(s):
- On Monday, March 2nd, Jessica Woelfel sold 869 shares of Ormat Technologies stock. The stock was sold at an average price of $104.59, for a total transaction of $90,888.71.
Ormat Technologies Stock Performance
NYSE:ORA traded down $0.68 during trading hours on Thursday, hitting $107.10. 99,245 shares of the company traded hands, compared to its average volume of 687,076. The company has a current ratio of 0.81, a quick ratio of 0.75 and a debt-to-equity ratio of 0.79. Ormat Technologies, Inc. has a twelve month low of $64.39 and a twelve month high of $132.58. The firm has a 50-day moving average of $118.10 and a 200 day moving average of $108.60. The stock has a market capitalization of $6.52 billion, a price-to-earnings ratio of 53.28, a P/E/G ratio of 4.38 and a beta of 0.84.
Ormat Technologies (NYSE:ORA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The energy company reported $0.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.67. The company had revenue of $276.04 million for the quarter, compared to analyst estimates of $257.75 million. Ormat Technologies had a net margin of 12.52% and a return on equity of 5.21%. The business's quarterly revenue was up 19.6% on a year-over-year basis. During the same period last year, the business posted $0.67 EPS. On average, analysts forecast that Ormat Technologies, Inc. will post 1.94 EPS for the current year.
Ormat Technologies Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $0.48 annualized dividend and a yield of 0.4%. Ormat Technologies's dividend payout ratio is 23.88%.
Hedge Funds Weigh In On Ormat Technologies
Several institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC boosted its position in Ormat Technologies by 13.0% in the fourth quarter. Signaturefd LLC now owns 746 shares of the energy company's stock valued at $82,000 after buying an additional 86 shares in the last quarter. Quadrant Capital Group LLC raised its stake in shares of Ormat Technologies by 9.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,153 shares of the energy company's stock valued at $127,000 after acquiring an additional 99 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of Ormat Technologies by 43.8% in the third quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company's stock valued at $35,000 after acquiring an additional 113 shares during the last quarter. State of Wyoming boosted its holdings in shares of Ormat Technologies by 6.7% in the 4th quarter. State of Wyoming now owns 2,091 shares of the energy company's stock worth $231,000 after acquiring an additional 131 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Ormat Technologies by 9.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,609 shares of the energy company's stock worth $135,000 after acquiring an additional 144 shares during the last quarter. 95.49% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Ormat Technologies from $99.00 to $111.00 and gave the company a "neutral" rating in a research report on Wednesday, November 5th. Piper Sandler boosted their price target on shares of Ormat Technologies from $102.00 to $125.00 and gave the company an "overweight" rating in a report on Thursday, December 18th. Robert W. Baird reduced their price objective on shares of Ormat Technologies from $143.00 to $130.00 and set an "outperform" rating for the company in a report on Friday, February 27th. UBS Group decreased their target price on shares of Ormat Technologies from $148.00 to $143.00 and set a "buy" rating on the stock in a research report on Tuesday. Finally, Royal Bank Of Canada initiated coverage on shares of Ormat Technologies in a research note on Tuesday. They issued an "outperform" rating and a $130.00 target price on the stock. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $129.09.
View Our Latest Stock Analysis on ORA
About Ormat Technologies
(
Get Free Report)
Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company's core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.
Ormat's offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
