Ormat Technologies, Inc. (NYSE:ORA) has been the object of insider selling activity recently. EVP Shimon Hatzir sold 1,169 shares at an average price of $61.00 on Fri the 9th. Hatzir now owns $0 of stock as reported to the SEC. David Granot, Director sold $288,500 worth of shares at an average price of $57.70 on Tue the 23rd. The Director now owns $0 of the stock per an SEC filing yesterday.
Director Robert Eugene Joyal sold 7,500 shares at an average price of $57.00 on May 16th. That brings the Director’s holdings to $0 as recorded in a recent Form 4 SEC filing.
Ormat Technologies, Inc., launched on September 15, 1994, is involved in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy-based power plants. The Business’s equipment manufacturing operations are located in Israel. The Company conducts its business activities in two business segments: Electricity segment and Product segment. The Company also manufactures products that produce electricity from recovered energy or so-called waste heat. It also constructs, owns and operates recovered energy-based power plants..
Here are a few other firms who have also updated their positions. Columbia Partners L L C Investment Management divested its investment by shedding 47,033 shares a decrease of 90.4% in the quarter. Columbia Partners L L C Investment Management now controls 4,987 shares worth $284,000. The value of the position overall is down by 89.8%. Morgan Stanley expanded its holdings by buying 125 shares an increase of 18.3%. Morgan Stanley owns 807 shares valued at $46,000. The total value of its holdings increased 27.8%.
As of quarter end Goldman Sachs Group Inc had sold a total of 11,533 shares trimming its position 73.2%. The value of the investment in Ormat Technologies, Inc. decreased from $845,000 to $241,000 a change of $604,000 for the reporting period. Migdal Insurance & Financial Holdings Ltd. reduced its stake by selling 104,106 shares a decrease of 6.6% from 12/31/2016 to 03/31/2017. Migdal Insurance & Financial Holdings Ltd. controls 1,471,288 shares with a value of $83,981,000. The value of the position overall is down by 0.6%.
On June 7, 2017 the stock rating was rated “Overweight” according to a JP Morgan report a boost from the previous “Neutral” rating. On May 26 the company was upgraded to “Equal-Weight” from “Underweight” in an announcement from Barclays.
Equity analyst Oppenheimer initiated coverage on the stock setting a rating of “Outperform”. On July 28, 2016 Roth Capital began coverage of the stock giving it an initial rating of “Buy” and establishing a price target of $50.00.
May 6 investment analysts at JP Morgan kept the price objective at $43.00 and downgraded the stock from Overweight to Neutral. On May 6 the stock rating was downgraded from “Overweight” to “Neutral” and a price target of $43.00 was set in a statement from JP Morgan.
The company is so far trading up by 0.46 percent from yesterday’s close. The company declared a dividend which was paid on Wednesday the 31st of May 2017. The dividend payment was $0.098 per share for the quarter which is $0.39 annualized. The dividend yield was $0.64. The ex-dividend date was Thursday the 18th of May 2017.
The stock is trading at $60.67 which is a tad above the 50 day moving average of $58.47 and a bit higher than the 200 day moving average of $55.43. The 50 day moving average went up $2.20 or +3.76% and the 200 day average went up $5.24 or +9.45%.
The most current P/E ratio is 30.61 and market cap is 3.02B. As of the latest earnings report the EPS was $1.98 and is expected to be $2.32 for the current year with 49,706,000 shares presently outstanding. Analysts expect next quarter’s EPS will be $0.50 and the next full year EPS is anticipated to be $2.55.