Ormat Technologies, Inc. (ORA) Files Form 4 Insider Selling : Shlomi Argas Sells 6,344 Shares

Ormat Technologies, Inc. (ORA): Shlomi Argas , Executive V.P., Projects of Ormat Technologies, Inc. sold 6,344 shares on Jun 8, 2016. The Insider selling transaction was reported by the company on Jun 9, 2016 to the Securities and Exchange Commission. The shares were sold at $44.60 per share for a total value of $282,942.41 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, on Jun 8, 2016, Nir Wolf (E.V.P. Market Develop.) sold 5,793 shares at $43.90 per share price.On Jun 8, 2016, Etty Rosner (SVP, Corporate Secretary) sold 4,734 shares at $44.50 per share price.Also, On Jun 8, 2016, Dan Falk (director) sold 7,500 shares at $43.99 per share price.On Jun 8, 2016, Shimon Hatzir (Executive V.P. Engineering.) sold 2,909 shares at $44.20 per share price.

Shares of Ormat Technologies (ORA) ended Thursday, Jun 9, 2016 session in red amid volatile trading. The shares closed down -0.28 points or -0.63% at $43.98 with 1,11,684 shares getting traded. Post opening the session at $44, the shares hit an intraday low of $43.82 and an intraday high of $44.23 and the price vacillated in this range throughout the day. The company has a market cap of $2,172 M and the number of outstanding shares has been calculated to be 4,93,90,335 shares. The 52-week high of Ormat Technologies is $45.13 and the 52-week low is $32.25.

Ormat Technologies Money Flow Index Chart

Company has been under the radar of several Street Analysts.Ormat Technologies is Downgraded by JP Morgan to Neutral. Earlier the firm had a rating of Overweight on the company shares. The Rating was issued on May 6, 2016.

Ormat Technologies Inc. is engaged in the geothermal and recovered energy power business. The Company designs develops builds owns and operates geothermal and recovered energy-based power plants various countries including the United States of America Kenya and Guatemala. The company’s equipment manufacturing operations are located in Israel. The Company conducts its business activities in two business segments: Electricity Segment and Product Segment. The Product Segment designs manufactures and sells equipment for geothermal and recovered energy-based electricity generation remote power units and other power generating units and provide services relating to the engineering procurement construction operation and maintenance of geothermal and recovered energy-based power plants. The Company’s customers include Southern California Edison Sierra Pacific Power Company Nevada Power Company HELCO and SCPPA.

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