Ormat Technologies Inc. (ORA) Moves Lower on Volume Spike for May 16

Equities Staff  |

Ormat Technologies Inc. (ORA) traded on unusually high volume on May. 16, as the stock lost 1.26% to close at $52.35. On the day, Ormat Technologies Inc. saw 522,901 shares trade hands on 4,820 trades. Considering that the stock averages only a daily volume of 255,314 shares a day over the last month, this represents a pretty significant bump in volume over the norm.

Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.

The stock has traded between $70.68 and $51.63 over the last 52-weeks, its 50-day SMA is now $56.45, and its 200-day SMA $60.54. Ormat Technologies Inc. has a P/B ratio of 2.15. It also has a P/E ratio of 16.4.

Ormat Technologies Inc is engaged in the geothermal and recovered energy power business. It designs, develops, builds, sells, owns, and operates clean, environmentally friendly geothermal and recovered energy-based power plants.

Headquartered in Reno, NV, Ormat Technologies Inc. has 1,303 employees and is currently under the leadership of CEO Isaac Angel.

For a complete fundamental analysis analysis of Ormat Technologies Inc., check out Equities.com’s Stock Valuation Analysis report for ORA.

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To get more information on Ormat Technologies Inc. and to follow the company’s latest updates, you can visit the company’s profile page here: ORA’s Profile. For more news on the financial markets and emerging growth companies, be sure to visit Equities.com’s Newsdesk. Also, don’t forget to sign-up for our daily email newsletter to ensure you don’t miss out on any of our best stories.

All data provided by QuoteMedia and was accurate as of 4:30PM ET.

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