Ormat Technologies Inc. (ORA) may enjoy gains as insiders got busy in the recent days

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Ormat Technologies Inc.’s recent filing unveils that its EVP, Electricity Segment Hatzir Shimon unloaded Company’s shares for reported $0.44 million on Sep 08. In the deal valued at $97.20 per share,4,526 shares were sold. As a result of this transaction, Hatzir Shimon now holds 0 shares worth roughly $ 0.0.


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Then, Argas Shlomi sold 1,598 shares, generating $155,805 in total proceeds. Upon selling the shares at $97.50, the President now owns 6,369 shares.

Before that, Granot David sold 727 shares. Ormat Technologies Inc. shares valued at $69,792 were divested by the Director at a price of $96.00 per share. As a result of the transaction, Granot David now holds 2,922 shares, worth roughly $0.29 million.

Citigroup initiated its Ormat Technologies Inc. [ORA] rating to a Neutral in a research note published on Friday, October 21, 2022; the price target was $91. PT values the company’s stock at a premium of -8.58 to its Friday closing price. A number of analysts have revised their coverage, including BofA Securities’s analysts, who decreased its forecast for the stock in late January from “a Buy” to “a Neutral”. Cowen also remained covering ORA and reiterated its “Market perform” recommendation on May 07, 2021. JP Morgan revised its rating on January 06, 2021. It rated ORA as “a Neutral” which previously was an “an Overweight”.

Price Performance Review of ORA

On Friday, Ormat Technologies Inc. [NYSE:ORA] saw its stock jump 2.06% to $98.81. On the same session, the stock had its day’s lowest price of $96.67, but rose to a high of $99.27. Over the last five days, the stock has gained 8.27%. Ormat Technologies Inc. shares have risen nearly 24.60% since the year began. Nevertheless, the stocks have risen 29.37% over the past one year. While a 52-week high of $98.47 was reached on 11/04/22, a 52-week low of $60.32 was recorded on 02/24/22. SMA at 50 days reached $90.59, while 200 days put it at $81.59. A total of 0.54 million shares were traded, compared to the trading of 0.53 million shares in the previous session.

Levels Of Support And Resistance For ORA Stock

The 24-hour chart illustrates a support level at 97.23, which if violated will result in even more drops to 95.65. On the upside, there is a resistance level at 99.83. A further resistance level may holdings at 100.85. The Relative Strength Index (RSI) on the 14-day chart is 68.63, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 5.32, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 2.82%. Stochastics %K at 85.45% indicates the stock is a selling.

How much short interest is there in Ormat Technologies Inc.?

A steep rise in short interest was recorded in Ormat Technologies Inc. stocks on Jul 14, 2022, growing by 1.89 million shares to a total of 5.79 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 3.9 million shares. There was a rise of 32.64%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 12.87% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.62.

Ormat Technologies Inc. [ORA] – Who Are The Largest Shareholders?

In filings from ORIX USA Corp., it is revealed that the company now owns 10,988,577 shares, or roughly 19.65% of the outstanding ORA shares. Additionally, The Vanguard Group, Inc. increased 5.12% of its stake after which the total value it holdings stand at $367,793,333, while Migdal Makefet Pension & Providen reduced -1.49% of its stake to hold $364.84 million in the firm. Over the last quarter, BlackRock Fund Advisors purchased 161,701 shares of Ormat Technologies Inc., while Impax Asset Management Ltd. bought -64,087 shares. At present, Global Alpha Capital Management L is holding 2,174,087 shares valued at $187.41 million. Clal Pension & Provident Funds Lt owned 2,118,402 shares of the company at the time of its most recent 13F filing, worth $182.61 million.

According to FactSet, Ormat Technologies Inc.’s share price will average $95.86 in the next year, based on opinions of analysts polled by the firm. This is down nearly -2.91 percent from its previous closing price of $96.82. Analysts expect Ormat Technologies Inc. stock to reach the higher price of $106.00, while the lowest price estimate is $89.00. However, 7 analysts have rated ORA stock as a Hold in their predictions for 2022. The most recent change occurred on December 29, 2020 when BofA Securities began covering the stock and recommended ‘”a Buy”‘ rating along with a $96 price target.

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