Candriam S.C.A. Sells 13,353 Shares of Ormat Technologies, Inc. $ORA

Candriam S.C.A. reduced its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 15.4% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 73,220 shares of the energy company’s stock after selling 13,353 shares during the quarter. Candriam S.C.A. owned 0.12% of Ormat Technologies worth $7,047,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alps Advisors Inc. grew its holdings in shares of Ormat Technologies by 5.2% during the third quarter. Alps Advisors Inc. now owns 61,989 shares of the energy company’s stock worth $5,966,000 after purchasing an additional 3,083 shares in the last quarter. State of Michigan Retirement System lifted its position in Ormat Technologies by 4.3% during the third quarter. State of Michigan Retirement System now owns 14,500 shares of the energy company’s stock valued at $1,396,000 after purchasing an additional 600 shares during the last quarter. Hantz Financial Services Inc. grew its stake in Ormat Technologies by 313.2% in the 3rd quarter. Hantz Financial Services Inc. now owns 595 shares of the energy company’s stock worth $57,000 after buying an additional 451 shares in the last quarter. AGF Management Ltd. purchased a new position in Ormat Technologies in the 3rd quarter worth approximately $9,527,000. Finally, Jones Financial Companies Lllp increased its holdings in shares of Ormat Technologies by 43.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company’s stock worth $35,000 after buying an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $125.00 price objective on shares of Ormat Technologies in a report on Monday, November 24th. Robert W. Baird set a $143.00 price target on Ormat Technologies in a research note on Wednesday, January 14th. Piper Sandler increased their price objective on Ormat Technologies from $102.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. UBS Group reissued a “buy” rating and set a $148.00 price objective on shares of Ormat Technologies in a report on Wednesday, February 4th. Finally, Roth Mkm set a $139.00 target price on Ormat Technologies in a research note on Wednesday, January 28th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $129.44.

Ormat Technologies Price Performance

ORA opened at $123.98 on Wednesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.77 and a quick ratio of 0.70. The stock’s 50 day simple moving average is $117.17 and its 200 day simple moving average is $105.71. The firm has a market cap of $7.54 billion, a price-to-earnings ratio of 56.87, a PEG ratio of 4.91 and a beta of 0.77. Ormat Technologies, Inc. has a 1 year low of $62.27 and a 1 year high of $132.58.

Ormat Technologies 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.