Alps Advisors Inc. grew its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 16.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 60,262 shares of the energy company’s stock after purchasing an additional 8,372 shares during the quarter. Alps Advisors Inc. owned about 0.12% of Ormat Technologies worth $4,477,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Quantamental Technologies LLC acquired a new position in Ormat Technologies in the second quarter worth $64,000. Public Employees Retirement System of Ohio boosted its stake in Ormat Technologies by 20.3% in the second quarter. Public Employees Retirement System of Ohio now owns 1,383 shares of the energy company’s stock worth $88,000 after purchasing an additional 233 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in Ormat Technologies by 57.6% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,946 shares of the energy company’s stock worth $124,000 after purchasing an additional 711 shares in the last quarter. Quest Capital Management Inc. ADV acquired a new position in Ormat Technologies in the third quarter worth $137,000. Finally, Strs Ohio boosted its stake in Ormat Technologies by 130.0% in the second quarter. Strs Ohio now owns 2,300 shares of the energy company’s stock worth $145,000 after purchasing an additional 1,300 shares in the last quarter. 74.76% of the stock is currently owned by institutional investors.
Shares of ORA opened at $76.25 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.49 and a debt-to-equity ratio of 0.77. Ormat Technologies, Inc. has a 12-month low of $49.70 and a 12-month high of $79.18. The firm has a market capitalization of $3.90 billion, a PE ratio of 36.66, a price-to-earnings-growth ratio of 3.91 and a beta of 1.03. The stock’s fifty day simple moving average is $75.01 and its 200-day simple moving average is $67.27.
Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Wednesday, November 6th. The energy company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.03). Ormat Technologies had a net margin of 11.98% and a return on equity of 6.07%. The firm had revenue of $170.50 million for the quarter, compared to analyst estimates of $171.11 million. During the same period last year, the company earned $0.31 EPS. The company’s revenue was up 2.4% compared to the same quarter last year. Analysts anticipate that Ormat Technologies, Inc. will post 1.77 EPS for the current year.
In other news, Director David Granot sold 7,500 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $70.70, for a total transaction of $530,250.00. Following the transaction, the director now owns 8,861 shares of the company’s stock, valued at $626,472.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Bob Sullivan sold 13,212 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $72.48, for a total value of $957,605.76. Following the transaction, the executive vice president now directly owns 18,478 shares in the company, valued at approximately $1,339,285.44. The disclosure for this sale can be found here. Insiders have sold 35,712 shares of company stock worth $2,582,976 in the last ninety days. 0.63% of the stock is currently owned by insiders.
A number of equities analysts have commented on the company. UBS Group boosted their price objective on Ormat Technologies from $59.00 to $73.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Zacks Investment Research raised Ormat Technologies from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a research note on Monday, October 21st. Roth Capital boosted their price objective on Ormat Technologies from $67.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. ValuEngine lowered Ormat Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Cowen lowered Ormat Technologies from an “outperform” rating to a “market perform” rating and set a $76.00 price objective on the stock. in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Ormat Technologies presently has a consensus rating of “Hold” and a consensus target price of $73.40.
Ormat Technologies Company Profile
Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, New Zealand, and internationally. The company operates through three segments: Electricity, Product, and Other. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity.
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