Point72 Asset Management L.P. acquired a new stake in Ormat Technologies, Inc. (NYSE:ORA) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 64,300 shares of the energy company’s stock, valued at approximately $3,625,000. Point72 Asset Management L.P. owned approximately 0.13% of Ormat Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ORA. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Ormat Technologies by 43.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,614 shares of the energy company’s stock worth $167,000 after buying an additional 791 shares during the period. SG Americas Securities LLC increased its position in shares of Ormat Technologies by 37.1% in the 1st quarter. SG Americas Securities LLC now owns 3,946 shares of the energy company’s stock valued at $222,000 after purchasing an additional 1,068 shares during the last quarter. West Branch Capital LLC purchased a new stake in shares of Ormat Technologies in the 1st quarter valued at approximately $235,000. Xact Kapitalforvaltning AB purchased a new stake in shares of Ormat Technologies in the 4th quarter valued at approximately $265,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of Ormat Technologies in the 1st quarter valued at approximately $267,000. 71.04% of the stock is owned by institutional investors.
A number of research firms recently commented on ORA. Guggenheim downgraded shares of Ormat Technologies from a “buy” rating to a “neutral” rating and set a $72.00 target price on the stock. in a research report on Wednesday, June 13th. Zacks Investment Research upgraded shares of Ormat Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, June 7th. Roth Capital set a $67.00 target price on shares of Ormat Technologies and gave the stock a “buy” rating in a research note on Sunday, May 20th. JPMorgan Chase & Co. downgraded shares of Ormat Technologies from an “overweight” rating to a “neutral” rating and set a $62.00 price target for the company. in a report on Monday, May 14th. Finally, ValuEngine downgraded shares of Ormat Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, May 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $69.17.
In related news, VP Erez Klein sold 4,120 shares of Ormat Technologies stock in a transaction on Friday, June 22nd. The shares were sold at an average price of $54.50, for a total value of $224,540.00. Following the completion of the sale, the vice president now owns 4,120 shares in the company, valued at $224,540. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.50% of the stock is currently owned by insiders.
ORA opened at $53.19 on Friday. The company has a market capitalization of $2.69 billion, a P/E ratio of 17.79, a P/E/G ratio of 2.24 and a beta of 1.32. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.47 and a current ratio of 1.57. Ormat Technologies, Inc. has a 1 year low of $50.43 and a 1 year high of $70.68.
Ormat Technologies (NYSE:ORA) last posted its earnings results on Monday, May 7th. The energy company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.09). The firm had revenue of $184.00 million for the quarter, compared to analyst estimates of $176.72 million. Ormat Technologies had a return on equity of 11.03% and a net margin of 24.00%. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.70 earnings per share. equities research analysts anticipate that Ormat Technologies, Inc. will post 2.16 EPS for the current year.
Ormat Technologies Company Profile
Ormat Technologies, Inc engages in the geothermal and recovered energy power business worldwide. The company operates through Electricity and Product segments. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity. This segment also offers energy storage, demand response, and energy management related services.
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