Ormat Technologies, Inc. (NYSE:ORA) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC lifted its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 44.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,051 shares of the energy company’s stock after acquiring an additional 321 shares during the quarter. GAMMA Investing LLC’s holdings in Ormat Technologies were worth $81,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ORA. Y.D. More Investments Ltd increased its position in shares of Ormat Technologies by 1,011.5% during the 2nd quarter. Y.D. More Investments Ltd now owns 493,619 shares of the energy company’s stock valued at $34,943,000 after purchasing an additional 449,209 shares during the period. Swedbank AB acquired a new position in Ormat Technologies during the first quarter worth about $7,907,000. Dimensional Fund Advisors LP raised its position in Ormat Technologies by 6.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,450,797 shares of the energy company’s stock worth $104,030,000 after acquiring an additional 86,291 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Ormat Technologies by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 5,388,571 shares of the energy company’s stock valued at $356,670,000 after acquiring an additional 63,943 shares during the last quarter. Finally, Beck Bode LLC boosted its position in shares of Ormat Technologies by 34.1% during the 1st quarter. Beck Bode LLC now owns 174,882 shares of the energy company’s stock valued at $11,575,000 after purchasing an additional 44,451 shares in the last quarter. Institutional investors own 95.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ORA shares. Roth Mkm reissued a “buy” rating and set a $80.00 target price on shares of Ormat Technologies in a research note on Monday, August 12th. Oppenheimer raised their price objective on Ormat Technologies from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. boosted their target price on Ormat Technologies from $69.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $81.67.

Insiders Place Their Bets

In other news, Director Byron G. Wong sold 1,266 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $74.98, for a total transaction of $94,924.68. Following the transaction, the director now directly owns 6,906 shares in the company, valued at $517,811.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Ormat Technologies news, Director Dafna Sharir sold 433 shares of Ormat Technologies stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $74.91, for a total value of $32,436.03. Following the completion of the sale, the director now directly owns 3,561 shares in the company, valued at $266,754.51. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Byron G. Wong sold 1,266 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.98, for a total transaction of $94,924.68. Following the transaction, the director now owns 6,906 shares in the company, valued at approximately $517,811.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Ormat Technologies Stock Performance

Shares of Ormat Technologies stock opened at $76.91 on Tuesday. Ormat Technologies, Inc. has a 12 month low of $58.73 and a 12 month high of $78.51. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.72. The stock has a market cap of $4.65 billion, a PE ratio of 34.64, a price-to-earnings-growth ratio of 3.92 and a beta of 0.53. The business has a fifty day simple moving average of $74.51 and a 200-day simple moving average of $72.10.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings data on Tuesday, August 6th. The energy company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. The firm had revenue of $212.96 million during the quarter, compared to analyst estimates of $214.07 million. Ormat Technologies had a return on equity of 5.40% and a net margin of 14.89%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the company posted $0.40 EPS. On average, sell-side analysts anticipate that Ormat Technologies, Inc. will post 1.94 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were given a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.48 dividend on an annualized basis and a yield of 0.62%. Ormat Technologies’s payout ratio is 21.62%.

Ormat Technologies Profile

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, Guadeloupe, New Zealand, Honduras, and internationally. It operates in three segments: Electricity, Product, and Energy Storage. The Electricity segment develops, builds, owns, and operates geothermal, solar photovoltaic, and recovered energy-based power plants; and sells electricity.