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.

Still paying commissions on stock trades? Equities.com now offers 100% commission free stock trading and flat-fee options trading for $89.95/month! Get started today by https://www.equities.com/trading

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.



DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Comments

Emerging Growth

Goldrea Resources Corp.

Goldrea Resources Corp is engaged in the acquisition, exploration and development of mineral properties located in North America.

Private Markets

Voleo

Voleo is a free download that allows you to form investment clubs with your friends, family, colleagues, classmates, teammates…basically anyone you know and trust. Invest and manage a stock portfolio…

Quants Inc

Quants, Inc, a California Corporation, develops, markets and operates financial technology platforms and alternative investment products offering sophisticated risk management since 2010. The Company has primarily sharpened its focus with…