GAMMA Investing LLC Invests $32,000 in Ormat Technologies, Inc. (NYSE:ORA)

GAMMA Investing LLC acquired a new stake in shares of Ormat Technologies, Inc. (NYSE:ORA) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 419 shares of the energy company’s stock, valued at approximately $32,000.

Other large investors also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. purchased a new position in Ormat Technologies during the 3rd quarter valued at $204,000. Allspring Global Investments Holdings LLC boosted its holdings in Ormat Technologies by 56.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,186 shares of the energy company’s stock valued at $223,000 after acquiring an additional 1,153 shares during the period. Prime Capital Investment Advisors LLC purchased a new position in Ormat Technologies during the 4th quarter valued at $257,000. Inspire Investing LLC boosted its holdings in Ormat Technologies by 12.8% during the 3rd quarter. Inspire Investing LLC now owns 4,400 shares of the energy company’s stock valued at $308,000 after acquiring an additional 501 shares during the period. Finally, MQS Management LLC boosted its holdings in Ormat Technologies by 40.2% during the 3rd quarter. MQS Management LLC now owns 4,700 shares of the energy company’s stock valued at $329,000 after acquiring an additional 1,348 shares during the period. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Ormat Technologies Trading Up 1.2 %

Shares of NYSE ORA opened at $67.50 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.20 and a quick ratio of 1.12. The stock has a market capitalization of $4.08 billion, a P/E ratio of 32.30, a price-to-earnings-growth ratio of 3.16 and a beta of 0.48. Ormat Technologies, Inc. has a 1-year low of $58.73 and a 1-year high of $88.26. The business has a fifty day moving average price of $64.85 and a 200 day moving average price of $66.88.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings data on Wednesday, February 21st. The energy company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. The firm had revenue of $241.30 million during the quarter, compared to analysts’ expectations of $239.71 million. Ormat Technologies had a return on equity of 5.09% and a net margin of 15.00%. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.73 EPS. Equities research analysts expect that Ormat Technologies, Inc. will post 2.14 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend was Tuesday, March 5th. Ormat Technologies’s dividend payout ratio (DPR) is currently 22.97%.

Insider Buying and Selling

In other Ormat Technologies news, Director Stanley Stern sold 1,825 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $66.95, for a total value of $122,183.75. Following the completion of the sale, the director now directly owns 4,835 shares in the company, valued at $323,703.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ORA shares. TD Cowen dropped their price objective on Ormat Technologies from $74.00 to $70.00 and set a “market perform” rating for the company in a report on Friday, February 23rd. Oppenheimer decreased their target price on Ormat Technologies from $84.00 to $83.00 and set an “outperform” rating for the company in a research report on Friday, January 19th. Finally, Barclays decreased their target price on Ormat Technologies from $82.00 to $75.00 and set an “equal weight” rating for the company in a research report on Monday, February 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $81.00.

Ormat Technologies Profile

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.