Jessica Woelfel Sells 409 Shares of Ormat Technologies, Inc. (NYSE:ORA) Stock

Ormat Technologies, Inc. (NYSE:ORA) insider Jessica Woelfel sold 409 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total transaction of $29,509.35. Following the sale, the insider now directly owns 6,094 shares of the company’s stock, valued at approximately $439,682.10. The trade was a 6.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Ormat Technologies Trading Down 0.5 %

Ormat Technologies stock opened at $71.67 on Friday. Ormat Technologies, Inc. has a 1 year low of $59.41 and a 1 year high of $84.30. The firm’s 50 day moving average price is $67.23 and its 200-day moving average price is $72.93. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87. The stock has a market cap of $4.34 billion, a P/E ratio of 36.57, a PEG ratio of 3.18 and a beta of 0.51.

Ormat Technologies Announces Dividend

The business 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 $0.12 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a yield of 0.67%. Ormat Technologies’s dividend payout ratio is currently 23.53%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ORA. Pacer Advisors Inc. increased its holdings in shares of Ormat Technologies by 2.0% in the fourth quarter. Pacer Advisors Inc. now owns 8,026 shares of the energy company’s stock worth $544,000 after purchasing an additional 160 shares during the last quarter. Bailard Inc. raised its holdings in shares of Ormat Technologies by 0.9% during the 4th quarter. Bailard Inc. now owns 19,446 shares of the energy company’s stock worth $1,317,000 after acquiring an additional 169 shares in the last quarter. Securian Asset Management Inc. boosted its position in shares of Ormat Technologies by 5.1% during the 4th quarter. Securian Asset Management Inc. now owns 4,354 shares of the energy company’s stock valued at $295,000 after acquiring an additional 212 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Ormat Technologies by 132.4% in the fourth quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock valued at $27,000 after purchasing an additional 229 shares in the last quarter. Finally, Caprock Group LLC increased its position in Ormat Technologies by 4.0% in the fourth quarter. Caprock Group LLC now owns 6,080 shares of the energy company’s stock worth $412,000 after purchasing an additional 235 shares during the last quarter. Institutional investors own 95.49% of the company’s stock.

Analysts Set New Price Targets

ORA has been the subject of several recent research reports. Robert W. Baird started coverage on Ormat Technologies in a report on Thursday, March 13th. They set a “neutral” rating and a $81.00 price target for the company. JPMorgan Chase & Co. boosted their price objective on Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, February 28th. Baird R W upgraded shares of Ormat Technologies to a “hold” rating in a research note on Thursday, March 13th. Jefferies Financial Group upgraded shares of Ormat Technologies from a “hold” rating to a “buy” rating and upped their price target for the stock from $73.00 to $78.00 in a research report on Thursday, February 20th. Finally, Piper Sandler initiated coverage on shares of Ormat Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $78.00 price objective for the company. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $82.67.

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.