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

AlphaQuest LLC boosted its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 4,691.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 575 shares of the energy company’s stock after buying an additional 563 shares during the quarter. AlphaQuest LLC’s holdings in Ormat Technologies were worth $39,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ORA. Versant Capital Management Inc lifted its holdings in shares of Ormat Technologies by 132.4% in the fourth quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock valued at $27,000 after purchasing an additional 229 shares in the last quarter. Mendota Financial Group LLC purchased a new stake in shares of Ormat Technologies in the fourth quarter valued at about $98,000. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in shares of Ormat Technologies in the fourth quarter valued at about $182,000. Raymond James Financial Inc. purchased a new stake in shares of Ormat Technologies in the fourth quarter valued at about $204,000. Finally, Perigon Wealth Management LLC lifted its holdings in shares of Ormat Technologies by 16.4% in the fourth quarter. Perigon Wealth Management LLC now owns 3,162 shares of the energy company’s stock valued at $214,000 after purchasing an additional 446 shares in the last quarter. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director David Granot sold 1,666 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $69.00, for a total value of $114,954.00. Following the completion of the sale, the director now owns 1,910 shares of the company’s stock, valued at $131,790. This represents a 46.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jessica Woelfel sold 409 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $72.15, for a total transaction of $29,509.35. Following the completion of the sale, the insider now directly owns 6,094 shares of the company’s stock, valued at $439,682.10. The trade was a 6.29 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ORA. Jefferies Financial Group raised shares of Ormat Technologies from a “hold” rating to a “buy” rating and upped their price target for the company from $73.00 to $78.00 in a report on Thursday, February 20th. Piper Sandler initiated coverage on shares of Ormat Technologies in a research note on Thursday, December 19th. They set a “neutral” rating and a $78.00 price objective on the stock. Baird R W raised shares of Ormat Technologies to a “hold” rating in a research note on Thursday, March 13th. JPMorgan Chase & Co. upped their price objective on shares of Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, February 28th. Finally, Robert W. Baird initiated coverage on shares of Ormat Technologies in a research note on Thursday, March 13th. They set a “neutral” rating and a $81.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ormat Technologies presently has a consensus rating of “Hold” and an average price target of $82.67.

Ormat Technologies Stock Performance

NYSE:ORA opened at $72.09 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73. The company has a market cap of $4.36 billion, a P/E ratio of 36.78, a P/E/G ratio of 3.18 and a beta of 0.51. Ormat Technologies, Inc. has a fifty-two week low of $59.41 and a fifty-two week high of $84.30. The firm’s 50 day moving average is $67.11 and its two-hundred day moving average is $72.94.

Ormat Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Wednesday, March 12th. Ormat Technologies’s dividend payout ratio is currently 23.53%.

About Ormat Technologies

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.