Mirae Asset Global Investments Co. Ltd. Has $1.93 Million Stock Holdings in Ormat Technologies, Inc. $ORA

Mirae Asset Global Investments Co. Ltd. decreased its position in shares of Ormat Technologies, Inc. (NYSE:ORA) by 33.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,000 shares of the energy company’s stock after selling 10,000 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Ormat Technologies were worth $1,925,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC grew its position in Ormat Technologies by 3.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,467,156 shares of the energy company’s stock worth $122,902,000 after purchasing an additional 48,038 shares in the last quarter. Canada Pension Plan Investment Board increased its position in Ormat Technologies by 62.6% in the second quarter. Canada Pension Plan Investment Board now owns 1,073,639 shares of the energy company’s stock worth $89,928,000 after buying an additional 413,384 shares during the last quarter. Norges Bank bought a new stake in Ormat Technologies in the 2nd quarter valued at about $56,458,000. Legal & General Group Plc raised its position in shares of Ormat Technologies by 1.5% in the second quarter. Legal & General Group Plc now owns 589,645 shares of the energy company’s stock valued at $49,389,000 after purchasing an additional 8,593 shares during the period. Finally, Groupama Asset Managment purchased a new stake in shares of Ormat Technologies during the second quarter worth $41,880,000. 95.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on ORA. Robert W. Baird set a $143.00 target price on shares of Ormat Technologies in a research note on Wednesday, January 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Ormat Technologies in a research note on Thursday, January 22nd. Jefferies Financial Group reiterated a “buy” rating and issued a $125.00 price objective on shares of Ormat Technologies in a report on Monday, November 24th. Barclays reduced their price objective on Ormat Technologies from $118.00 to $108.00 and set an “overweight” rating on the stock in a research report on Thursday, January 15th. Finally, Oppenheimer boosted their target price on Ormat Technologies from $125.00 to $136.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 27th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $128.00.

Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, insider Jessica Woelfel sold 721 shares of the business’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $115.00, for a total value of $82,915.00. Following the sale, the insider directly owned 3,433 shares of the company’s stock, valued at approximately $394,795. The trade was a 17.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Isaac Angel sold 18,018 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $112.42, for a total transaction of $2,025,583.56. Following the sale, the director directly owned 29,650 shares in the company, valued at $3,333,253. This trade represents a 37.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 40,860 shares of company stock worth $4,601,530. Insiders own 0.56% of the company’s stock.

Ormat Technologies Stock Up 3.1%

Shares of NYSE ORA opened at $129.65 on Wednesday. The firm’s fifty day moving average is $116.01 and its 200 day moving average is $104.52. Ormat Technologies, Inc. has a 52 week low of $61.93 and a 52 week high of $130.12. The company has a quick ratio of 0.70, a current ratio of 0.77 and a debt-to-equity ratio of 0.79. The company has a market cap of $7.88 billion, a price-to-earnings ratio of 59.47, a PEG ratio of 4.98 and a beta of 0.77.

Ormat Technologies (NYSE:ORA) last posted its earnings results on Monday, November 3rd. The energy company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. The firm had revenue of $249.73 million for the quarter, compared to analysts’ expectations of $235.03 million. Ormat Technologies had a return on equity of 5.35% and a net margin of 14.12%.The business’s revenue was up 17.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.36 earnings per share. On average, equities research analysts expect that Ormat Technologies, Inc. will post 1.94 earnings per share for the current year.

About Ormat Technologies

Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company’s core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.

Ormat’s offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.