Key Points
- Director Michal Marom sold 3,080 shares of Ormat Technologies stock on May 19 for about $403,388 at an average price of $130.97 per share. After the sale, Marom’s holdings fell to 1,766 shares, a drop of 63.56% in ownership.
- Ormat reported strong first-quarter results, with earnings of $1.30 per share versus the $0.92 consensus estimate and revenue of $403.91 million, up 75.8% year over year. The company also beat analyst revenue expectations by a wide margin.
- Analysts remain constructive on ORA, with a consensus rating of “Moderate Buy” and an average price target of $133.18. The stock also carries a quarterly dividend of $0.12 per share, implying an annual yield of about 0.4%.
Ormat Technologies, Inc. (NYSE:ORA - Get Free Report) Director David Granot sold 1,753 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $132.70, for a total transaction of $232,623.10. Following the completion of the sale, the director owned 1,766 shares of the company's stock, valued at approximately $234,348.20. The trade was a 49.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
David Granot also recently made the following trade(s):
- On Thursday, May 21st, David Granot sold 1,766 shares of Ormat Technologies stock. The stock was sold at an average price of $134.43, for a total transaction of $237,403.38.
Ormat Technologies Stock Up 1.5%
Shares of NYSE ORA opened at $133.73 on Friday. The stock has a fifty day moving average price of $115.48 and a 200 day moving average price of $115.13. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.87. Ormat Technologies, Inc. has a 12-month low of $70.42 and a 12-month high of $138.51. The company has a market cap of $8.22 billion, a P/E ratio of 64.92, a P/E/G ratio of 5.62 and a beta of 0.80.
Ormat Technologies (NYSE:ORA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.38. Ormat Technologies had a net margin of 10.97% and a return on equity of 6.61%. The company had revenue of $403.91 million for the quarter, compared to analyst estimates of $349.17 million. During the same quarter last year, the firm posted $0.68 earnings per share. The business's quarterly revenue was up 75.8% on a year-over-year basis. Research analysts anticipate that Ormat Technologies, Inc. will post 2.35 EPS for the current fiscal year.
Ormat Technologies Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 20th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Wednesday, May 20th. Ormat Technologies's dividend payout ratio (DPR) is 23.30%.
Institutional Investors Weigh In On Ormat Technologies
Institutional investors and hedge funds have recently bought and sold shares of the business. Aster Capital Management DIFC Ltd acquired a new position in Ormat Technologies in the fourth quarter valued at approximately $26,000. Main Street Group LTD acquired a new stake in shares of Ormat Technologies during the 1st quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Ormat Technologies in the 4th quarter worth approximately $31,000. Smartleaf Asset Management LLC lifted its holdings in shares of Ormat Technologies by 245.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 297 shares of the energy company's stock worth $33,000 after purchasing an additional 211 shares during the last quarter. Finally, Wolff Wiese Magana LLC acquired a new position in Ormat Technologies during the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 95.49% of the company's stock.
Analyst Ratings Changes
A number of brokerages recently issued reports on ORA. JPMorgan Chase & Co. lifted their price target on shares of Ormat Technologies from $106.00 to $123.00 and gave the stock a "neutral" rating in a research note on Friday, May 8th. Jefferies Financial Group downgraded shares of Ormat Technologies from a "buy" rating to a "hold" rating and boosted their target price for the stock from $125.00 to $130.00 in a research report on Friday, February 13th. Piper Sandler upped their target price on shares of Ormat Technologies from $125.00 to $142.00 and gave the company an "overweight" rating in a research note on Monday. Weiss Ratings reiterated a "hold (c)" rating on shares of Ormat Technologies in a research note on Tuesday, April 21st. Finally, Oppenheimer restated an "outperform" rating and set a $144.00 price objective on shares of Ormat Technologies in a research note on Friday, May 8th. 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 $133.18.
View Our Latest Stock Report 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.
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