Ormat Technologies, Inc. (NYSE:ORA) Shares Bought by Retirement Systems of Alabama

Retirement Systems of Alabama increased its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 6.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,805 shares of the energy company’s stock after acquiring an additional 4,447 shares during the quarter. Retirement Systems of Alabama’s holdings in Ormat Technologies were worth $4,727,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ORA. AQR Capital Management LLC increased its holdings in shares of Ormat Technologies by 45.3% in the 2nd quarter. AQR Capital Management LLC now owns 5,809 shares of the energy company’s stock valued at $417,000 after acquiring an additional 1,811 shares during the period. GAMMA Investing LLC increased its holdings in shares of Ormat Technologies by 44.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,051 shares of the energy company’s stock valued at $81,000 after acquiring an additional 321 shares during the period. UMB Bank n.a. increased its holdings in shares of Ormat Technologies by 107.7% in the 3rd quarter. UMB Bank n.a. now owns 617 shares of the energy company’s stock valued at $47,000 after acquiring an additional 320 shares during the period. Inspire Investing LLC increased its holdings in shares of Ormat Technologies by 8.5% in the 3rd quarter. Inspire Investing LLC now owns 5,328 shares of the energy company’s stock valued at $410,000 after acquiring an additional 419 shares during the period. Finally, Wesbanco Bank Inc. acquired a new position in shares of Ormat Technologies in the 3rd quarter valued at $1,731,000. 95.49% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Ormat Technologies

In related news, Director David Granot sold 1,256 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $82.00, for a total value of $102,992.00. Following the completion of the transaction, the director now owns 3,576 shares of the company’s stock, valued at approximately $293,232. The trade was a 25.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Corp Orix sold 3,700,000 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $75.38, for a total transaction of $278,906,000.00. Following the completion of the transaction, the insider now directly owns 2,976,077 shares of the company’s stock, valued at $224,336,684.26. The trade was a 55.42 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

ORA has been the topic of a number of analyst reports. Roth Mkm reiterated a “buy” rating and issued a $92.00 price objective (up from $87.00) on shares of Ormat Technologies in a research report on Friday, November 8th. Jefferies Financial Group initiated coverage on shares of Ormat Technologies in a research report on Friday, January 10th. They issued a “hold” rating and a $73.00 price objective on the stock. Piper Sandler initiated coverage on shares of Ormat Technologies in a research report on Thursday, December 19th. They issued a “neutral” rating and a $78.00 price objective on the stock. Finally, Oppenheimer lifted their price objective on shares of Ormat Technologies from $86.00 to $91.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Ormat Technologies presently has a consensus rating of “Hold” and an average price target of $82.25.

Ormat Technologies Trading Down 0.2 %

NYSE:ORA opened at $63.91 on Tuesday. The company has a market capitalization of $3.87 billion, a PE ratio of 32.61, a price-to-earnings-growth ratio of 3.01 and a beta of 0.57. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73. Ormat Technologies, Inc. has a 52-week low of $59.41 and a 52-week high of $84.30. The stock has a fifty day simple moving average of $68.81 and a 200-day simple moving average of $73.99.

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, 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.