Hsbc Holdings PLC Has $5.17 Million Stock Position in Ormat Technologies, Inc. $ORA

Hsbc Holdings PLC increased its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 459.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,763 shares of the energy company’s stock after acquiring an additional 38,399 shares during the period. Hsbc Holdings PLC owned about 0.08% of Ormat Technologies worth $5,171,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Aster Capital Management DIFC Ltd purchased a new stake in shares of Ormat Technologies in the fourth quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd purchased a new position in Ormat Technologies during the fourth quarter valued at approximately $31,000. Los Angeles Capital Management LLC acquired a new position in Ormat Technologies in the 4th quarter valued at approximately $32,000. Wolff Wiese Magana LLC acquired a new position in Ormat Technologies in the 4th quarter valued at approximately $33,000. Finally, Smartleaf Asset Management LLC lifted its position in Ormat Technologies by 245.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 297 shares of the energy company’s stock worth $33,000 after buying an additional 211 shares in the last quarter. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ormat Technologies

In related news, CFO Assi Ginzburg sold 17,776 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $134.75, for a total value of $2,395,316.00. Following the transaction, the chief financial officer directly owned 1,970 shares in the company, valued at approximately $265,457.50. This trade represents a 90.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director David Granot sold 1,766 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $134.43, for a total transaction of $237,403.38. Following the sale, the director owned 1,766 shares of the company’s stock, valued at $237,403.38. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 30,585 shares of company stock worth $4,090,998 in the last quarter. 0.56% of the stock is owned by corporate insiders.

Ormat Technologies Price Performance

NYSE ORA opened at $110.54 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.07 and a quick ratio of 1.02. The firm has a market cap of $6.79 billion, a P/E ratio of 53.66, a price-to-earnings-growth ratio of 4.74 and a beta of 0.88. The stock’s 50-day moving average is $127.17 and its two-hundred day moving average is $119.29. Ormat Technologies, Inc. has a fifty-two week low of $84.13 and a fifty-two week high of $146.39.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.38. Ormat Technologies had a return on equity of 6.61% and a net margin of 10.97%.The business had revenue of $403.91 million for the quarter, compared to the consensus estimate of $349.17 million. During the same period last year, the business earned $0.68 EPS. The firm’s revenue was up 75.8% compared to the same quarter last year. On average, analysts anticipate that Ormat Technologies, Inc. will post 2.35 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 20th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Wednesday, May 20th. Ormat Technologies’s payout ratio is presently 23.30%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ORA shares. Oppenheimer reissued an “outperform” rating and set a $144.00 target price on shares of Ormat Technologies in a research note on Friday, May 8th. Piper Sandler upped their price target on shares of Ormat Technologies from $125.00 to $142.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. UBS Group increased their price objective on Ormat Technologies from $143.00 to $152.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Ormat Technologies in a research report on Tuesday, April 21st. Finally, Wolfe Research started coverage on Ormat Technologies in a research report on Monday, June 8th. They issued a “peer perform” rating on the stock. Eight investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Ormat Technologies has an average rating of “Moderate Buy” and an average price target of $131.67.

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.