Ormat Technologies, Inc. (NYSE:ORA) Director David Granot Sells 455 Shares – MarketBeat

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Ormat Technologies, Inc. (NYSE:ORA – Get Rating) Director David Granot sold 455 shares of the company’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $93.00, for a total value of $42,315.00. Following the sale, the director now owns 2,922 shares of the company’s stock, valued at approximately $271,746. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Ormat Technologies Price Performance

Shares of ORA stock opened at $96.43 on Friday. Ormat Technologies, Inc. has a 12 month low of $60.32 and a 12 month high of $98.11. The company has a current ratio of 1.66, a quick ratio of 1.57 and a debt-to-equity ratio of 0.82. The stock has a 50 day moving average of $83.51 and a two-hundred day moving average of $79.43. The company has a market capitalization of $5.39 billion, a P/E ratio of 85.34, a P/E/G ratio of 6.74 and a beta of 0.51.

Ormat Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 31st. Stockholders of record on Wednesday, August 17th will be issued a $0.12 dividend. The ex-dividend date is Tuesday, August 16th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.50%. Ormat Technologies’s payout ratio is presently 42.48%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Ormat Technologies

A number of hedge funds have recently modified their holdings of ORA. Swiss National Bank increased its holdings in Ormat Technologies by 7.5% during the 1st quarter. Swiss National Bank now owns 105,934 shares of the energy company’s stock valued at $8,669,000 after purchasing an additional 7,400 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd increased its holdings in Ormat Technologies by 6.6% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,419,123 shares of the energy company’s stock valued at $191,836,000 after purchasing an additional 150,000 shares in the last quarter. Bailard Inc. acquired a new stake in shares of Ormat Technologies in the 1st quarter valued at $278,000. Trillium Asset Management LLC increased its stake in shares of Ormat Technologies by 1.4% in the 1st quarter. Trillium Asset Management LLC now owns 328,324 shares of the energy company’s stock valued at $26,867,000 after buying an additional 4,463 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Ormat Technologies by 33.0% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 13,193 shares of the energy company’s stock valued at $1,036,000 after buying an additional 3,270 shares during the period. 96.42% of the stock is owned by institutional investors and hedge funds.

About Ormat Technologies

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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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