Ormat Technologies, Inc. (NYSE:ORA) Director Gillon Beck sold 37,500 shares of Ormat Technologies stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $57.00, for a total transaction of $2,137,500.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
Ormat Technologies, Inc. (ORA) traded down 1.17% on Thursday, hitting $58.47. 45,140 shares of the company were exchanged. The stock’s 50-day moving average price is $58.98 and its 200-day moving average price is $57.29. The stock has a market capitalization of $2.91 billion, a P/E ratio of 29.50 and a beta of 1.19. Ormat Technologies, Inc. has a 52-week low of $45.14 and a 52-week high of $61.49.
Ormat Technologies (NYSE:ORA) last posted its quarterly earnings data on Monday, May 8th. The energy company reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.05. The firm had revenue of $189.90 million during the quarter, compared to the consensus estimate of $177.42 million. Ormat Technologies had a return on equity of 10.05% and a net margin of 14.26%. The firm’s revenue was up 25.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.59 EPS. On average, equities research analysts anticipate that Ormat Technologies, Inc. will post $2.30 earnings per share for the current fiscal year.
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Several research firms have recently issued reports on ORA. Cowen and Company reiterated an “outperform” rating and set a $67.00 price objective on shares of Ormat Technologies in a research report on Wednesday, April 12th. J P Morgan Chase & Co upgraded shares of Ormat Technologies from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $65.00 to $71.00 in a research report on Wednesday, June 7th. Barclays PLC upgraded shares of Ormat Technologies from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $54.00 to $59.00 in a research report on Friday, May 26th. Oppenheimer Holdings, Inc. set a $65.00 price objective on shares of Ormat Technologies and gave the company a “buy” rating in a research report on Thursday, May 4th. Finally, BidaskClub cut shares of Ormat Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $65.25.
Hedge funds have recently modified their holdings of the stock. Creative Planning boosted its stake in shares of Ormat Technologies by 43.9% in the first quarter. Creative Planning now owns 1,874 shares of the energy company’s stock valued at $107,000 after buying an additional 572 shares during the last quarter. US Bancorp DE boosted its stake in shares of Ormat Technologies by 33.6% in the first quarter. US Bancorp DE now owns 2,169 shares of the energy company’s stock valued at $124,000 after buying an additional 545 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Ormat Technologies during the fourth quarter valued at about $128,000. SG Americas Securities LLC boosted its stake in shares of Ormat Technologies by 16.6% in the first quarter. SG Americas Securities LLC now owns 2,285 shares of the energy company’s stock valued at $130,000 after buying an additional 326 shares during the last quarter. Finally, Quantbot Technologies LP boosted its stake in shares of Ormat Technologies by 89.3% in the first quarter. Quantbot Technologies LP now owns 2,334 shares of the energy company’s stock valued at $133,000 after buying an additional 1,101 shares during the last quarter. Institutional investors own 45.81% of the company’s stock.
Ormat Technologies Company Profile
Ormat Technologies, Inc is engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy-based power plants. Its equipment manufacturing operations are located in Israel. It conducts its business activities in two business segments: Electricity segment and Product segment.
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