Mon Sep 23 22:46:44 UTC 2024: ## Ormat Technologies Director Sells Shares, Company Stock Rises Slightly

**New York, NY – September 23, 2024** – Ormat Technologies, Inc. (NYSE:ORA) saw a director, Byron G. Wong, sell 1,266 shares of company stock on Friday, September 20th. The transaction, disclosed in an SEC filing, saw Wong sell the shares at an average price of $74.98, bringing in a total of $94,924.68. Following the sale, Wong now holds 6,906 shares of Ormat Technologies stock, valued at approximately $517,811.88.

Despite this insider transaction, Ormat Technologies stock closed slightly up on Monday, trading at $75.66, a $0.13 increase from the previous day. The stock saw a volume of 303,222 shares traded, lower than the average volume of 444,731 shares.

The company recently posted its quarterly earnings data on August 6th, surpassing analysts’ expectations with $0.40 EPS, beating the estimated $0.37 by $0.03. Revenue for the quarter reached $212.96 million, slightly lower than the anticipated $214.07 million.

Ormat Technologies is a leading developer and operator of geothermal and recovered energy power plants, operating globally in various countries, including the US, Indonesia, Kenya, Turkey, Chile, and more. The company’s operations are divided into three segments: Electricity, Product, and Energy Storage.

Analysts are generally optimistic about Ormat Technologies’ future performance. Oppenheimer recently lifted its target price on the stock to $86.00, while Roth Mkm maintained a “buy” rating and set a target price of $80.00. JPMorgan Chase & Co. also raised its target price to $75.00.

Overall, despite the director’s recent stock sale, Ormat Technologies continues to perform well, with strong earnings and positive analyst sentiment. The company’s commitment to renewable energy and its global presence are key factors driving its success.

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