Key Points
- Jessica Woelfel sold 136 shares of Ormat on March 24 at an average price of $107.79 for $14,659.44, reducing her stake to 7,360 shares (a 1.81% decrease); this follows two larger sales earlier in March totaling 3,228 shares.
- Ormat reported Q results of $0.67 EPS (in line) and revenue of $276.04M (beat), with revenue up 19.6% year-over-year, and recently paid a $0.12 quarterly dividend ($0.48 annual, ~0.4% yield).
- The stock has a consensus rating of “Moderate Buy” with a $129.09 average price target, while institutional investors own about 95.49% of the company’s shares.
Ormat Technologies, Inc. (NYSE:ORA - Get Free Report) insider Jessica Woelfel sold 136 shares of Ormat Technologies stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $107.79, for a total value of $14,659.44. Following the sale, the insider owned 7,360 shares of the company's stock, valued at approximately $793,334.40. This trade represents a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Jessica Woelfel also recently made the following trade(s):
- On Tuesday, March 3rd, Jessica Woelfel sold 2,359 shares of Ormat Technologies stock. The stock was sold at an average price of $105.16, for a total transaction of $248,072.44.
- 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 Trading Up 0.8%
Shares of ORA opened at $110.67 on Thursday. The firm has a market capitalization of $6.73 billion, a price-to-earnings ratio of 55.06, a PEG ratio of 4.64 and a beta of 0.84. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.81 and a quick ratio of 0.75. Ormat Technologies, Inc. has a 1-year low of $64.39 and a 1-year high of $132.58. The company has a 50-day moving average of $116.41 and a 200 day moving average of $110.39.
Ormat Technologies (NYSE:ORA - Get Free Report) last issued its earnings results on Wednesday, February 25th. The energy company reported $0.67 EPS for the quarter, hitting analysts' consensus estimates of $0.67. The business had revenue of $276.04 million for the quarter, compared to the consensus estimate of $257.75 million. Ormat Technologies had a net margin of 12.52% and a return on equity of 5.21%. The company's revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.67 EPS. On average, research analysts expect that Ormat Technologies, Inc. will post 1.94 EPS for the current year.
Ormat Technologies Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. Ormat Technologies's payout ratio is 23.88%.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. TD Cowen lowered their price objective on shares of Ormat Technologies from $131.00 to $125.00 and set a "buy" rating for the company in a research note on Friday, February 27th. Oppenheimer upped their price target on shares of Ormat Technologies from $125.00 to $136.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 27th. Citigroup lifted their price objective on shares of Ormat Technologies from $110.00 to $128.00 and gave the company a "neutral" rating in a report on Wednesday, February 18th. Barclays boosted their price objective on shares of Ormat Technologies from $108.00 to $123.00 and gave the stock an "overweight" rating in a research note on Monday, March 2nd. Finally, Piper Sandler increased their target price on Ormat Technologies from $102.00 to $125.00 and gave the company an "overweight" rating in a research report on Thursday, December 18th. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $129.09.
Read Our Latest Research Report on ORA
Institutional Trading of Ormat Technologies
Institutional investors have recently made changes to their positions in the business. Aster Capital Management DIFC Ltd acquired a new position in Ormat Technologies during the 4th quarter valued at about $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in Ormat Technologies in the fourth quarter worth about $31,000. Los Angeles Capital Management LLC purchased a new stake in shares of Ormat Technologies during the fourth quarter worth about $32,000. Wolff Wiese Magana LLC acquired a new position in shares of Ormat Technologies during the fourth quarter valued at about $33,000. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Ormat Technologies by 245.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 297 shares of the energy company's stock valued at $33,000 after acquiring an additional 211 shares in the last quarter. Institutional investors and hedge funds own 95.49% of the company's stock.
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.
Further Reading
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