4,607 Shares in Ormat Technologies, Inc. (NYSE:ORA) Purchased by AXQ Capital LP

AXQ Capital LP acquired a new stake in Ormat Technologies, Inc. (NYSE:ORA) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 4,607 shares of the energy company’s stock, valued at approximately $312,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Versant Capital Management Inc increased its holdings in Ormat Technologies by 132.4% in the fourth quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock valued at $27,000 after buying an additional 229 shares during the last quarter. AlphaQuest LLC grew its holdings in shares of Ormat Technologies by 4,691.7% during the fourth quarter. AlphaQuest LLC now owns 575 shares of the energy company’s stock valued at $39,000 after purchasing an additional 563 shares during the last quarter. Mendota Financial Group LLC bought a new position in shares of Ormat Technologies during the fourth quarter valued at approximately $98,000. Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of Ormat Technologies during the fourth quarter valued at approximately $182,000. Finally, Raymond James Financial Inc. bought a new position in shares of Ormat Technologies during the fourth quarter valued at approximately $204,000. 95.49% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Baird R W raised Ormat Technologies to a “hold” rating in a report on Thursday, March 13th. Jefferies Financial Group raised Ormat Technologies from a “hold” rating to a “buy” rating and upped their target price for the company from $73.00 to $78.00 in a report on Thursday, February 20th. JPMorgan Chase & Co. upped their target price on Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, February 28th. Robert W. Baird started coverage on Ormat Technologies in a report on Thursday, March 13th. They set a “neutral” rating and a $81.00 target price for the company. Finally, Piper Sandler started coverage on Ormat Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $78.00 price objective for the company. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $82.67.

Ormat Technologies Stock Performance

ORA opened at $71.67 on Monday. The company has a market capitalization of $4.34 billion, a price-to-earnings ratio of 36.57, a price-to-earnings-growth ratio of 3.18 and a beta of 0.51. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87. Ormat Technologies, Inc. has a 1-year low of $59.41 and a 1-year high of $84.30. The business has a 50 day moving average price of $67.23 and a two-hundred day moving average price of $72.93.

Ormat Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th will be given a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a yield of 0.67%. Ormat Technologies’s dividend payout ratio (DPR) is 23.53%.

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.