David Granot Sells 1,666 Shares of Ormat Technologies, Inc. (NYSE:ORA) Stock

Ormat Technologies, Inc. (NYSE:ORA) Director David Granot sold 1,666 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $69.00, for a total value of $114,954.00. Following the sale, the director now directly owns 1,910 shares of the company’s stock, valued at approximately $131,790. The trade was a 46.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Ormat Technologies Trading Down 0.1 %

NYSE ORA opened at $69.57 on Thursday. The company has a market cap of $4.21 billion, a PE ratio of 35.49, a PEG ratio of 3.18 and a beta of 0.57. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. Ormat Technologies, Inc. has a 12 month low of $59.41 and a 12 month high of $84.30. The stock has a 50 day moving average of $66.47 and a 200-day moving average of $73.14.

Ormat Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.69%. The ex-dividend date is Wednesday, March 12th. Ormat Technologies’s dividend payout ratio is 23.53%.

Institutional Investors Weigh In On Ormat Technologies

Several hedge funds have recently added to or reduced their stakes in the business. Jefferies Financial Group Inc. acquired a new stake in Ormat Technologies during the 4th quarter valued at $372,000. Polar Asset Management Partners Inc. acquired a new stake in Ormat Technologies during the 4th quarter valued at $5,079,000. Squarepoint Ops LLC acquired a new stake in Ormat Technologies during 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 and hedge funds own 95.49% of the company’s stock.

Analyst Upgrades and Downgrades

ORA has been the subject of several research reports. Roth Mkm reaffirmed a “buy” rating and set a $92.00 price target (up from $87.00) on shares of Ormat Technologies in a research note on Friday, November 8th. JPMorgan Chase & Co. raised their price target on shares of Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, February 28th. Piper Sandler initiated coverage on shares of Ormat Technologies in a research note on Thursday, December 19th. They set a “neutral” rating and a $78.00 price target for the company. Jefferies Financial Group raised shares of Ormat Technologies from a “hold” rating to a “buy” rating and raised their price target for the stock from $73.00 to $78.00 in a research note on Thursday, February 20th. Finally, Oppenheimer increased their price objective on Ormat Technologies from $86.00 to $91.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Ormat Technologies has an average rating of “Moderate Buy” and a consensus target price of $82.88.

Ormat Technologies Company Profile

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.