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Ormat Technologies, Inc.: what insiders have been doing
Ormat Technologies, Inc., founded in 1994, is a Energy company based in Reno, Israel. Its directors and officers file their transactions with SEC (Form 4). In the past year (18 October 2025 to 18 October 2026), 24 filings came from 9 insiders.
The flow runs one way only: 11 sales worth €6.1M, from 8 insiders, and no purchase. The largest single trade was a sale of €2.0M by Ginzburg Assi, published on 10 November 2025.
Filings reach the SEC (Form 4) feed a median of 2 days after the trade. For comparison, the SEC allows two business days to file a Form 4. Selling is not necessarily a view on the stock: liquidity needs and diversification are common motives.
For context, the typical company on the same exchange (median of 5,816 companies) published 19 filings over the same period, against 24 filings here. Our records for Ormat Technologies, Inc. go back to 2016, with no purchases and 52 sales on the open market in total. For the fiscal year to 31 December 2025, the annual 10-K puts revenue at 989.5 m USD and net income at 123.9 m USD, and the dividend at 0.48 USD per share.
For comparison within the same sector, see the insider buying recorded at RGC Resources Inc and Empire Petroleum Corp. These figures are compiled from regulatory filings published by SEC (Form 4). They describe what insiders did and are not a recommendation.
Insider Decl.
198
Thresholds
n/a
Buy Volume
n/a
n/a
Sell Volume
€644M
52 ops. · all time
Who traded when
BuySaleDavid Granot7 sales
Jessica Woelfel5 sales
Stanley Stern4 sales
Ofer Benyosef3 sales
Assi Ginzburg2 sales
Byron G. Wong2 sales
+6 other insiders
Analyst consensus: bullish or bearish?
Analysts rate Ormat Technologies, Inc. Buy (bullish), based on 12 analysts. Average price target: US$132.83.
This score ranks the purchase within its own market. A position size is suggested only on the venues of the backtested strategy universe; elsewhere, signals stay on watch. Not investment advice.
Fundamental score
Ranked 16,951 of 24,161 companies
38.2
score / 100
Value32
Quality44
FCF yld-4.5%
Earn yld2.0%
EV/EBITDA16.9x
ROE4.8%
Gross mgn28%
Net mgn13%
Debt/EBITDA5.3x
Pillars2/3
Transparent value + quality ranking, distinct from the insider signal.
Financial data
as of FY 2025FY ended December 2025 · cache
US$102.00
Analyst consensus
12 analystsBuy
US$112.00Target US$132.83(+30%)US$157.00
Income statement
RevenueUS$989.5M
Gross profitUS$272.7M28% margin
EBITDAUS$539.7M55% margin
Net incomeUS$123.9M10.7% margin
Valuation
PER (trailing)50.5x
PER (forward)38.5x
P/Book2.4x
Beta0.90
Balance sheet & cash
Market capUS$6.3B
Total debtUS$2.9B
Free Cash Flow-US$284.7M
Debt / Equity124%
Profitability & ownership
ROE4.8%
ROA2.0%
% insiders0.4%
% institutions92.2%
Last declaration on 21 May 2026
Declarations198 total
1,753 shares@ US$132.700.0033% mcap17.6% of flowCommon StockSEC:0001437749-26-018158:0
1,766 shares@ US$134.4250.0034% mcap17.9% of flowCommon StockSEC:0001437749-26-018158:1
9,429 shares@ US$131.020.018% mcap33.6% of flowCommon StockSEC:0001437749-26-017473:2
602 shares@ US$131.020.0011% mcap2.1% of flowCommon StockSEC:0001437749-26-017473:1
5,502 shares@ US$71.150.0056% mcap7.4% of flowCommon StockSEC:0001437749-26-017471:0
1,101 shares@ US$71.150.0011% mcap2.1% of flowCommon StockSEC:0001437749-26-017473:0
577 shares@ US$130.170.0011% mcap5.2% of flowCommon StockSEC:0001437749-26-017472:0
4,500 shares@ US$134.320.0086% mcap42.9% of flowCommon StockSEC:0001437749-26-017470:0
427 shares@ US$107.375.6% of flowCommon StockSEC:0001437749-26-009983:0
2,252 shares0Common StockSEC:0001437749-26-009679:0
563 shares0Common StockSEC:0001437749-26-009676:0
626 shares0Common StockSEC:0001437749-26-009674:0
1,064 shares0Common StockSEC:0001437749-26-009681:0
869 shares@ US$104.5910.9% of flowCommon StockSEC:0001437749-26-006951:0
313 shares0Common StockSEC:0001437749-26-006790:0
358 shares0Common StockSEC:0001437749-26-006792:0
805 shares0Common StockSEC:0001437749-26-006789:0
447 shares0Common StockSEC:0001437749-26-006788:0
1,000 shares@ US$71.158.7% of flowCommon StockSEC:0001437749-25-034160:0
1,753 shares@ US$112.54100.0% of flowCommon StockSEC:0001437749-25-034157:0
511 shares@ US$113.301.6% of flowCommon StockSEC:0001437749-25-034158:0
20,000 shares@ US$112.72543.1% of flowCommon StockSEC:0001437749-25-034159:0
18,018 shares@ US$112.424710.1% of flowCommon StockSEC:0001437749-25-034156:0
21,271 shares@ US$68.3440.3% of flowCommon StockSEC:0001437749-25-033692:0
981 shares@ US$96.7016.3% of flowCommon StockSEC:0001437749-25-030213:0
25 of 198 declarations
About Ormat Technologies, Inc.
Ormat Technologies, Inc. is a U.S.-based company listed on the NYSE under the ticker ORA and is widely recognized as a global specialist in geothermal power and energy storage. Headquartered in Reno, Nevada, United States, Ormat has more than six decades of operating experience and has built a reputation around a highly integrated business model that spans technology development, equipment manufacturing, project construction, and power plant ownership and operation. This vertical integration is a core differentiator: Ormat is the only fully integrated company active in geothermal and recovered energy generation (REG), giving it control across the value chain from engineering to long-term operations. ([investor.ormat.com](https://investor.ormat.com/corporate-profile/?utm_source=openai))
The company’s business is organized around three main segments. The Electricity segment owns and operates power plants that generate and sell electricity under long-term contracts or merchant exposure. The Product segment designs, manufactures, and sells geothermal and REG equipment and power plants to third parties, leveraging Ormat’s proprietary technology and decades of engineering know-how. The Energy Storage segment is increasingly important, as the company expands into grid-scale storage to support renewable integration, capacity needs, and price volatility management. Ormat also highlights hybrid configurations that combine geothermal, solar PV, and storage, reflecting its broader strategy of monetizing clean, dispatchable infrastructure. ([investor.ormat.com](https://investor.ormat.com/corporate-profile/?utm_source=openai))
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From a competitive standpoint, Ormat occupies a niche but strategically valuable position. Geothermal power is attractive because it delivers low-carbon, baseload electricity with high availability, which makes it particularly relevant for utilities, industrial users, and data center demand growth. Ormat states that it has engineered, manufactured, and constructed plants totaling approximately 3,400 MW of gross capacity as of December 31, 2024, including geothermal and REG assets. Its geographic footprint is international, with a meaningful presence in the United States as well as in markets such as Indonesia, Israel, and parts of Latin America, providing both operational diversification and exposure to different power-market structures. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1296445/000130817925000240/ora012673-def14a.htm?utm_source=openai))
Recent developments point to a company in expansion mode. In 2025 and early 2026, Ormat announced new long-term power purchase agreements, new energy storage commercial operations, and strategic technology partnerships aimed at accelerating Enhanced Geothermal Systems (EGS), including collaborations with SLB and Sage Geosystems. Management has also emphasized that energy storage revenues increased materially as new projects came online and market conditions improved. In its February 2026 full-year results, Ormat said 2025 revenue rose 12.5% year over year and reiterated a growth strategy centered on geothermal, next-generation geothermal technologies, and storage, supported by strong demand for reliable, carbon-free electricity. ([investor.ormat.com](https://investor.ormat.com/news-events/news/news-details/2026/Ormat-Technologies-Reports-Fourth-Quarter-and-Year-End-2025-Financial-Results/default.aspx?utm_source=openai))
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