The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Ormat Technologies Inc shares valued at $122,184 were sold by STERN STANLEY on Mar 28 ’24. At $66.95 per share, STERN STANLEY sold 1,825 shares. The insider’s holdings dropped to 4,835 shares worth approximately $0.3 million following the completion of this transaction.
Also, SHARIR DAFNA sold 312 shares, netting a total of over 20,183 in proceeds. Following the sale of shares at $64.69 each, the insider now holds 2,800 shares.
Before that, Granot David had sold 312 shares from its account. In a trade valued at $20,183, the Director traded Ormat Technologies Inc shares for $64.69 each. Upon closing the transaction, the insider’s holdings decreased to 312 shares, worth approximately $0.25 million.
As published in a research note from TD Cowen on February 23, 2024, Ormat Technologies Inc [ORA] has been retained to a Market perform and the price target has been revised to $70. Analysts at ROTH MKM upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early August. As of May 22, 2023, Barclays has initiated its “an Equal weight” rating for ORA. Earlier on March 01, 2023, UBS upgraded its rating. Their new recommendation was “a Buy” for ORA stock which previously was a “a Neutral”.
Analyzing ORA Stock Performance
During the last five days, there has been a drop of approximately -3.84%. Over the course of the year, Ormat Technologies Inc shares have dropped approximately -18.05%. Shares of the company reached a 52-week high of $76.88 on 01/02/24 and a 52-week low of $59.41 on 04/16/24. A 50-day SMA is recorded $65.09, while a 200-day SMA reached $70.32. Nevertheless, trading volume fell to 0.84 million shares from 0.91 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 60.15, which, if violated, would cause prices to drop to 58.19. In the upper region, resistance lies at 63.49. The next price resistance is at 64.86. RSI (Relative Strength Index) is 42.96 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.03, which suggests the price will decrease in the coming days. Percent R is at 65.56%, indicating low price movement. Stochastics %K at buying indicates that the stock is to be held.
