Ormat Technologies, Inc. (NYSE:ORA) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp lessened its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 3.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 385,374 shares of the energy company’s stock after selling 13,392 shares during the quarter. Van ECK Associates Corp owned 0.64% of Ormat Technologies worth $30,248,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. State of Alaska Department of Revenue lifted its position in Ormat Technologies by 7.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 6,221 shares of the energy company’s stock worth $478,000 after acquiring an additional 420 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Ormat Technologies during the third quarter valued at approximately $1,113,000. DMC Group LLC acquired a new position in shares of Ormat Technologies during the third quarter worth $204,000. Everett Harris & Co. CA boosted its stake in shares of Ormat Technologies by 25.0% in the third quarter. Everett Harris & Co. CA now owns 5,000 shares of the energy company’s stock valued at $385,000 after purchasing an additional 1,000 shares during the period. Finally, Blue Trust Inc. grew its holdings in Ormat Technologies by 180.3% during the 3rd quarter. Blue Trust Inc. now owns 356 shares of the energy company’s stock valued at $26,000 after purchasing an additional 229 shares in the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Wall Street Analysts Forecast Growth

ORA has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price target on Ormat Technologies from $69.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. Oppenheimer raised their price target on shares of Ormat Technologies from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $80.00 price target on shares of Ormat Technologies in a report on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $81.67.

Ormat Technologies Stock Performance

Shares of ORA opened at $80.86 on Tuesday. The stock has a market capitalization of $4.89 billion, a PE ratio of 36.90, a price-to-earnings-growth ratio of 4.13 and a beta of 0.53. The business’s fifty day moving average price is $76.16 and its 200 day moving average price is $73.58. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.97 and a quick ratio of 0.89. Ormat Technologies, Inc. has a 12-month low of $58.73 and a 12-month high of $82.39.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.37 by $0.03. The business had revenue of $212.96 million during the quarter, compared to analyst estimates of $214.07 million. Ormat Technologies had a net margin of 14.89% and a return on equity of 5.40%. The company’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.40 EPS. Equities research analysts forecast that Ormat Technologies, Inc. will post 1.92 EPS for the current year.

Insider Buying and Selling at Ormat Technologies

In related news, Director Dafna Sharir sold 433 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $74.91, for a total transaction of $32,436.03. Following the completion of the transaction, the director now owns 3,561 shares in the company, valued at $266,754.51. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Byron G. Wong sold 1,266 shares of Ormat Technologies stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $74.98, for a total value of $94,924.68. Following the sale, the director now directly owns 6,906 shares in the company, valued at $517,811.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dafna Sharir sold 433 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $74.91, for a total transaction of $32,436.03. Following the transaction, the director now directly owns 3,561 shares of the company’s stock, valued at $266,754.51. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

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.