Q4 2022 EPS Estimates for Ormat Technologies, Inc. Reduced by Oppenheimer (NYSE:ORA) – MarketBeat

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Ormat Technologies, Inc. (NYSE:ORA – Get Rating) – Analysts at Oppenheimer reduced their Q4 2022 earnings per share estimates for shares of Ormat Technologies in a report released on Friday, August 5th. Oppenheimer analyst N. Kaye now anticipates that the energy company will earn $0.42 per share for the quarter, down from their previous estimate of $0.48. The consensus estimate for Ormat Technologies’ current full-year earnings is $1.25 per share.
A number of other research analysts also recently commented on ORA. StockNews.com upgraded Ormat Technologies from a “sell” rating to a “hold” rating in a research note on Thursday. JPMorgan Chase & Co. upped their price objective on Ormat Technologies from $77.00 to $80.00 in a research note on Wednesday, July 20th.

Ormat Technologies Stock Performance

ORA stock opened at $90.72 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.81 and a debt-to-equity ratio of 0.61. The firm has a market cap of $5.09 billion, a P/E ratio of 80.28, a P/E/G ratio of 6.63 and a beta of 0.51. Ormat Technologies has a 12-month low of $60.32 and a 12-month high of $92.27. The stock’s 50 day simple moving average is $79.75 and its 200 day simple moving average is $77.04.

Institutional Trading of Ormat Technologies

A number of hedge funds have recently modified their holdings of the company. Total Clarity Wealth Management Inc. acquired a new position in Ormat Technologies during the second quarter worth approximately $27,000. Signaturefd LLC grew its stake in shares of Ormat Technologies by 77.6% in the 1st quarter. Signaturefd LLC now owns 451 shares of the energy company’s stock valued at $37,000 after buying an additional 197 shares during the period. Prospera Financial Services Inc bought a new position in Ormat Technologies in the 1st quarter valued at about $41,000. AlphaMark Advisors LLC bought a new position in shares of Ormat Technologies during the 1st quarter worth approximately $56,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Ormat Technologies during the 1st quarter worth approximately $177,000. Institutional investors own 96.42% of the company’s stock.

Insider Transactions at Ormat Technologies

In other news, Director Isaac Angel sold 9,502 shares of the company’s stock in a transaction on Monday, June 6th. The stock was sold at an average price of $81.86, for a total value of $777,833.72. Following the completion of the sale, the director now owns 39,615 shares in the company, valued at $3,242,883.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Ormat Technologies news, Director Dan Falk sold 1,667 shares of the company’s stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $83.96, for a total value of $139,961.32. Following the transaction, the director now directly owns 2,014 shares of the company’s stock, valued at approximately $169,095.44. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Isaac Angel sold 9,502 shares of the stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $81.86, for a total value of $777,833.72. Following the transaction, the director now directly owns 39,615 shares in the company, valued at approximately $3,242,883.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,161 shares of company stock valued at $3,338,965. 1.30% of the stock is currently owned by corporate insiders.

Ormat Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 31st. Stockholders of record on Wednesday, August 17th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, August 16th. This represents a $0.48 annualized dividend and a dividend yield of 0.53%. Ormat Technologies’s payout ratio is 42.48%.

Ormat Technologies Company Profile

(Get Rating)
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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