Saturday, June 25, 2022

A company insider recently sold 9,502 shares of Ormat Technologies Inc. [ORA]. Should You Sale?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Ormat Technologies Inc. shares valued at $777,837 were sold by Angel Isaac on Jun 06. At $81.86 per share, Angel Isaac sold 9,502 shares. The insider’s holdings dropped to 39,615 shares worth approximately $2.75 million following the completion of this transaction.

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Also, Angel Isaac sold 8,200 shares, netting a total of over 677,938 in proceeds. Following the sale of shares at $82.68 each, the insider now holds 39,615 shares.

Before that, Blachar Doron had sold 1,792 shares from its account. In a trade valued at $149,095, the Chief Executive Officer traded Ormat Technologies Inc. shares for $83.20 each. Upon closing the transaction, the insider’s holdings decreased to 1,792 shares, worth approximately $0.67 million.

As published in a research note from BofA Securities on January 26, 2022, Ormat Technologies Inc. [ORA] has been rated down from a Buy to a Neutral and the price target has been revised to $75 from $94. This represents a 7.41% premium over Wednesday’s closing price. Analysts at Cowen resumed the stock at ‘”a Market perform”‘ outlook in a report released in early May. As of January 06, 2021, JP Morgan has decreased its “an Overweight” rating to a “Neutral” for ORA. Earlier on December 29, 2020, BofA Securities initiated its rating. Their recommendation was “a Buy” for ORA stock.

Analyzing ORA’s Price Performance

On Wednesday, Ormat Technologies Inc. [NYSE: ORA] plunged -7.36% to $69.44. The stock’s lowest price that day was $67.275, but it reached a high of $72.06 in the same session. During the last five days, there has been a drop of approximately -6.52%. Over the course of the year, Ormat Technologies Inc. shares have dropped approximately -12.43%. Shares of the company reached a 52-week high of $88.52 on 04/20/22 and a 52-week low of $60.32 on 02/24/22. A 50-day SMA is recorded $79.07, while a 200-day SMA reached $75.26. Nevertheless, trading volume fell to 2.32 million shares from 0.3 million shares the previous day.

Support And Resistance Levels for Ormat Technologies Inc. (ORA)

According to the 24-hour chart, there is a support level at 67.12, which, if violated, would cause prices to drop to 64.81. In the upper region, resistance lies at 71.91. The next price resistance is at 74.38. RSI (Relative Strength Index) is 32.37 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -5.53, which suggests the price will decrease in the coming days. Percent R is at 87.60%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Which companies own the most shares of Ormat Technologies Inc. (ORA)?

According to ORIX USA Corp. filings, the company currently owns 10,988,577 shares, which is about 19.60% of the total ORA shares outstanding. The investor’s shares have plunged by 0 from its previous 13-F filing of 10988577.0 shares. With the completion of the sale, Migdal Makefet Pension & Providen’s stake is now worth $355,355,494. The Vanguard Group, Inc. reduced a -3.96% interest valued at $340.79 million while BlackRock Fund Advisors sold a -32,667 stake. A total of -167,699 shares of Ormat Technologies Inc. were sold by Impax Asset Management Ltd. during the quarter, and -14,000 were sold by Clal Pension & Provident Funds Lt. In its current portfolio, Global Alpha Capital Management L holds 2,106,074 shares valued at $176.83 million.

In terms of Ormat Technologies Inc. share price expectations, FactSet research, analysts set an average price target of $79.25 in the next 12 months, up nearly 4.72% from the previous closing price of $74.96. Analysts anticipate Ormat Technologies Inc. stock to reach $85.00 by 2022, with the lowest price target being $75.00. In spite of this, 4 analysts ranked Ormat Technologies Inc. stock as a Hold at the end of 2022.

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