Ormat Technologies, Inc. $ORA Shares Purchased by Aquatic Capital Management LLC

Aquatic Capital Management LLC boosted its position in Ormat Technologies, Inc. (NYSE:ORA) by 134.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 48,222 shares of the energy company’s stock after buying an additional 27,639 shares during the period. Aquatic Capital Management LLC owned approximately 0.08% of Ormat Technologies worth $4,641,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of ORA. Ameriflex Group Inc. boosted its holdings in shares of Ormat Technologies by 1,100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 360 shares of the energy company’s stock valued at $35,000 after acquiring an additional 330 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of Ormat Technologies by 43.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company’s stock valued at $35,000 after buying an additional 113 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Ormat Technologies by 251.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 523 shares of the energy company’s stock valued at $44,000 after buying an additional 374 shares during the last quarter. AlphaQuest LLC lifted its holdings in shares of Ormat Technologies by 218.0% in the 3rd quarter. AlphaQuest LLC now owns 547 shares of the energy company’s stock valued at $53,000 after buying an additional 375 shares during the period. Finally, Hantz Financial Services Inc. boosted its stake in shares of Ormat Technologies by 313.2% in the third quarter. Hantz Financial Services Inc. now owns 595 shares of the energy company’s stock worth $57,000 after buying an additional 451 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

Insiders Place Their Bets

In other Ormat Technologies news, insider Jessica Woelfel sold 2,359 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $105.16, for a total value of $248,072.44. Following the transaction, the insider directly owned 3,433 shares of the company’s stock, valued at $361,014.28. This trade represents a 40.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.56% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ORA. Piper Sandler raised their target price on Ormat Technologies from $102.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. Royal Bank Of Canada assumed coverage on Ormat Technologies in a research report on Tuesday, March 3rd. They issued an “outperform” rating and a $130.00 price objective on the stock. Jefferies Financial Group cut shares of Ormat Technologies from a “buy” rating to a “hold” rating and raised their price objective for the stock from $125.00 to $130.00 in a research note on Friday, February 13th. Barclays lifted their target price on shares of Ormat Technologies from $108.00 to $123.00 and gave the company an “overweight” rating in a report on Monday, March 2nd. Finally, UBS Group decreased their target price on shares of Ormat Technologies from $148.00 to $143.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Ormat Technologies currently has an average rating of “Moderate Buy” and an average target price of $129.09.

Ormat Technologies Stock Down 0.6%

Shares of ORA opened at $109.77 on Tuesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.75 and a current ratio of 0.81. Ormat Technologies, Inc. has a one year low of $64.39 and a one year high of $132.58. The stock has a market capitalization of $6.68 billion, a price-to-earnings ratio of 54.61, a PEG ratio of 4.67 and a beta of 0.84. The stock has a 50 day moving average price of $117.60 and a 200 day moving average price of $109.66.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings data on Wednesday, February 25th. The energy company reported $0.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.67. The company had revenue of $276.04 million for the quarter, compared to analyst estimates of $257.75 million. Ormat Technologies had a return on equity of 5.21% and a net margin of 12.52%.The firm’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.67 EPS. Equities research analysts forecast that Ormat Technologies, Inc. will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th will be issued a $0.12 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. Ormat Technologies’s dividend payout ratio is presently 23.88%.

Ormat Technologies Company Profile

Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company’s core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.

Ormat’s offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.