Ormat Technologies (NYSE:ORA) Shares Cross Above 200-Day Moving Average of $68.75

Shares of Ormat Technologies, Inc. (NYSE:ORAGet Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $68.75 and traded as high as $74.17. Ormat Technologies shares last traded at $73.10, with a volume of 476,839 shares.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Barclays lowered their target price on shares of Ormat Technologies from $75.00 to $73.00 and set an “equal weight” rating for the company in a report on Monday, May 13th. UBS Group upped their price objective on shares of Ormat Technologies from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Finally, TD Cowen lifted their target price on Ormat Technologies from $70.00 to $76.00 and gave the stock a “hold” rating in a research report on Friday, May 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $83.83.

View Our Latest Analysis on ORA

Ormat Technologies Price Performance

The company has a debt-to-equity ratio of 0.73, a current ratio of 1.12 and a quick ratio of 1.02. The company has a 50 day moving average price of $69.94 and a 200 day moving average price of $68.78. The firm has a market cap of $4.28 billion, a PE ratio of 32.93, a PEG ratio of 3.54 and a beta of 0.53.

Ormat Technologies (NYSE:ORAGet Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The energy company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.03). The firm had revenue of $224.17 million for the quarter, compared to analysts’ expectations of $224.38 million. Ormat Technologies had a return on equity of 5.45% and a net margin of 15.43%. Sell-side analysts expect that Ormat Technologies, Inc. will post 2.07 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd were given a $0.12 dividend. The ex-dividend date was Tuesday, May 21st. This represents a $0.48 dividend on an annualized basis and a yield of 0.68%. Ormat Technologies’s payout ratio is currently 21.62%.

Insider Buying and Selling at Ormat Technologies

In other news, Director David Granot sold 686 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $73.46, for a total value of $50,393.56. Following the completion of the sale, the director now directly owns 4,832 shares of the company’s stock, valued at approximately $354,958.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director David Granot sold 686 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $73.46, for a total transaction of $50,393.56. Following the transaction, the director now directly owns 4,832 shares of the company’s stock, valued at approximately $354,958.72. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Stanley Stern sold 1,825 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $66.95, for a total transaction of $122,183.75. Following the completion of the transaction, the director now owns 4,835 shares of the company’s stock, valued at approximately $323,703.25. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ormat Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. TFO Wealth Partners LLC raised its holdings in Ormat Technologies by 9,066.7% during the fourth quarter. TFO Wealth Partners LLC now owns 275 shares of the energy company’s stock worth $227,000 after purchasing an additional 272 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of Ormat Technologies in the 4th quarter worth about $32,000. EntryPoint Capital LLC acquired a new stake in Ormat Technologies in the 1st quarter valued at about $50,000. Manchester Capital Management LLC increased its holdings in Ormat Technologies by 593.0% during the 4th quarter. Manchester Capital Management LLC now owns 797 shares of the energy company’s stock valued at $60,000 after acquiring an additional 682 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Ormat Technologies by 50.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,540 shares of the energy company’s stock worth $117,000 after acquiring an additional 514 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

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, 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.

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