AlphaQuest LLC Acquires 563 Shares of Ormat Technologies, Inc. (NYSE:ORA)

AlphaQuest LLC boosted its position in Ormat Technologies, Inc. (NYSE:ORA) by 4,691.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 575 shares of the energy company’s stock after purchasing an additional 563 shares during the period. AlphaQuest LLC’s holdings in Ormat Technologies were worth $39,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ORA. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in Ormat Technologies in the 4th quarter worth approximately $182,000. Candriam S.C.A. bought a new stake in Ormat Technologies in the 4th quarter worth $6,890,000. Raymond James Financial Inc. bought a new stake in Ormat Technologies in the 4th quarter worth $204,000. Aigen Investment Management LP bought a new stake in Ormat Technologies in the 4th quarter worth $425,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Ormat Technologies in the 4th quarter worth about $766,000. 95.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Piper Sandler assumed coverage on shares of Ormat Technologies in a research report on Thursday, December 19th. They set a “neutral” rating and a $78.00 price target for the company. Baird R W upgraded shares of Ormat Technologies to a “hold” rating in a research note on Thursday, March 13th. Robert W. Baird started coverage on shares of Ormat Technologies in a research note on Thursday, March 13th. They issued a “neutral” rating and a $81.00 price target for the company. JPMorgan Chase & Co. boosted their target price on shares of Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, February 28th. Finally, Jefferies Financial Group raised shares of Ormat Technologies from a “hold” rating to a “buy” rating and lifted their price target for the company from $73.00 to $78.00 in a report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $82.67.

Insider Buying and Selling

In other news, Director David Granot sold 1,666 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $69.00, for a total value of $114,954.00. Following the completion of the sale, the director now owns 1,910 shares of the company’s stock, valued at $131,790. This represents a 46.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jessica Woelfel sold 409 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $72.15, for a total transaction of $29,509.35. Following the transaction, the insider now directly owns 6,094 shares of the company’s stock, valued at $439,682.10. The trade was a 6.29 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Ormat Technologies Trading Up 0.5 %

Shares of Ormat Technologies stock opened at $72.09 on Friday. The firm has a 50-day simple moving average of $67.11 and a two-hundred day simple moving average of $72.94. The company has a market cap of $4.36 billion, a P/E ratio of 36.78, a price-to-earnings-growth ratio of 3.18 and a beta of 0.51. Ormat Technologies, Inc. has a fifty-two week low of $59.41 and a fifty-two week high of $84.30. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95.

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th will be given a dividend of $0.12 per share. The ex-dividend date is Wednesday, March 12th. This represents a $0.48 annualized dividend and a dividend yield of 0.67%. Ormat Technologies’s dividend payout ratio (DPR) is presently 23.53%.

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.