Ormat Technologies Sees Unusually High Options Volume (NYSE:ORA) – MarketBeat

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Ormat Technologies, Inc. (NYSE:ORA – Get Rating) saw some unusual options trading on Wednesday. Stock investors purchased 3,070 call options on the company. This is an increase of 488% compared to the typical volume of 522 call options.

Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, Director David Granot sold 455 shares of Ormat Technologies stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $93.00, for a total transaction of $42,315.00. Following the completion of the transaction, the director now directly owns 2,922 shares of the company’s stock, valued at $271,746. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director David Granot sold 455 shares of the firm’s stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $93.00, for a total value of $42,315.00. Following the completion of the sale, the director now directly owns 2,922 shares in the company, valued at $271,746. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Stanley Stern sold 7,500 shares of the firm’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $96.85, for a total value of $726,375.00. Following the completion of the sale, the director now owns 6,037 shares of the company’s stock, valued at $584,683.45. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Ormat Technologies

Several hedge funds have recently modified their holdings of ORA. Total Clarity Wealth Management Inc. acquired a new position in Ormat Technologies during the 2nd quarter worth about $27,000. Signaturefd LLC lifted its holdings in Ormat Technologies by 77.6% during the 1st quarter. Signaturefd LLC now owns 451 shares of the energy company’s stock worth $37,000 after buying an additional 197 shares during the period. Prospera Financial Services Inc acquired a new position in Ormat Technologies during the 1st quarter worth about $41,000. AlphaMark Advisors LLC acquired a new position in Ormat Technologies during the 1st quarter worth about $56,000. Finally, FMR LLC lifted its holdings in Ormat Technologies by 13.0% during the 2nd quarter. FMR LLC now owns 1,465 shares of the energy company’s stock worth $115,000 after buying an additional 169 shares during the period. Institutional investors and hedge funds own 92.42% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on ORA shares. Cowen increased their price objective on shares of Ormat Technologies to $84.00 in a report on Tuesday, August 9th. JPMorgan Chase & Co. increased their price objective on shares of Ormat Technologies from $90.00 to $97.00 and gave the company a “neutral” rating in a report on Monday, August 8th. StockNews.com upgraded shares of Ormat Technologies from a “sell” rating to a “hold” rating in a report on Thursday, August 4th. Finally, Oppenheimer increased their price objective on shares of Ormat Technologies from $85.00 to $97.00 and gave the company an “outperform” rating in a report on Monday, August 8th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $88.25.

Ormat Technologies Stock Performance

Shares of NYSE ORA traded up $3.73 during mid-day trading on Wednesday, reaching $95.71. 11,137 shares of the company were exchanged, compared to its average volume of 563,527. The company’s 50-day simple moving average is $85.69 and its 200-day simple moving average is $80.35. The stock has a market capitalization of $5.35 billion, a P/E ratio of 81.40, a P/E/G ratio of 6.54 and a beta of 0.47. Ormat Technologies has a twelve month low of $60.32 and a twelve month high of $98.11. The company has a quick ratio of 1.57, a current ratio of 1.66 and a debt-to-equity ratio of 0.82.

Ormat Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Investors of record on Wednesday, August 17th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Tuesday, August 16th. Ormat Technologies’s dividend payout ratio (DPR) is 42.48%.

Ormat Technologies Company Profile

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Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guadeloupe, Guatemala, Ethiopia, New Zealand, Honduras, and internationally. It operates through 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.

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