Ormat Technologies, Inc. (ORA) Files Form 4 Insider Selling : Shimon Hatzir Sells 2,857 Shares

Ormat Technologies, Inc. (ORA): Shimon Hatzir , Executive V.P. Engineering. of Ormat Technologies, Inc. sold 2,857 shares on Jun 30, 2016. The Insider selling transaction was reported by the company on Jul 5, 2016 to the Securities and Exchange Commission. The shares were sold at $43.50 per share for a total value of $124,279.50 , 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 9, 2016, Shlomi Argas (Executive V.P., Projects) sold 6,344 shares at $44.60 per share price.On Jun 8, 2016, Nir Wolf (E.V.P. Market Develop.) sold 5,793 shares at $43.90 per share price.Also, On Jun 8, 2016, Etty Rosner (SVP, Corporate Secretary) sold 4,734 shares at $44.50 per share price.On Jun 8, 2016, Dan Falk (director) sold 7,500 shares at $43.99 per share price.

Ormat Technologies (ORA) witnessed a volatile trading activity on Friday Jul 1, 2016 and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $43.88 and reached the intraday high at $44.065. The bulls started the profit booking and pushed the shares to intraday low of $43.38. The trading session was marked by a volume range of 1,03,919 shares exchanging hands. The 52-week high of the shares is $45.13 and the 52-week low is $32.25. The market cap of the company stands at $2,161 M and there are 4,93,90,335 shares in public circulation.

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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