Tidal Investments LLC Purchases 12,272 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Tidal Investments LLC increased its position in shares of Ormat Technologies, Inc. (NYSE:ORA) by 36.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 45,642 shares of the energy company’s stock after acquiring an additional 12,272 shares during the period. Tidal Investments LLC owned about 0.08% of Ormat Technologies worth $3,512,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Global Alpha Capital Management Ltd. grew its holdings in shares of Ormat Technologies by 6.1% during the third quarter. Global Alpha Capital Management Ltd. now owns 2,446,624 shares of the energy company’s stock worth $188,125,000 after purchasing an additional 140,882 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Ormat Technologies by 6.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,450,797 shares of the energy company’s stock worth $104,030,000 after acquiring an additional 86,291 shares during the last quarter. Van Berkom & Associates Inc. increased its position in Ormat Technologies by 2.0% in the 2nd quarter. Van Berkom & Associates Inc. now owns 1,322,936 shares of the energy company’s stock valued at $94,855,000 after acquiring an additional 25,799 shares during the period. Geode Capital Management LLC raised its stake in shares of Ormat Technologies by 1.8% during the third quarter. Geode Capital Management LLC now owns 1,301,291 shares of the energy company’s stock valued at $100,140,000 after acquiring an additional 22,714 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Ormat Technologies by 2.8% during the second quarter. Bank of New York Mellon Corp now owns 560,029 shares of the energy company’s stock worth $40,154,000 after purchasing an additional 15,004 shares during the period. Institutional investors and hedge funds own 95.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ORA shares. Roth Mkm restated a “buy” rating and issued a $92.00 price objective (up from $87.00) on shares of Ormat Technologies in a report on Friday, November 8th. Oppenheimer raised their price objective on Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.50.

Insider Buying and Selling at Ormat Technologies

In other news, Director David Granot sold 1,256 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $82.00, for a total transaction of $102,992.00. Following the completion of the sale, the director now owns 3,576 shares in the company, valued at $293,232. The trade was a 25.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Byron G. Wong sold 1,266 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.98, for a total value of $94,924.68. Following the completion of the transaction, the director now owns 6,906 shares in the company, valued at approximately $517,811.88. This represents a 15.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,702,522 shares of company stock valued at $279,103,917. Corporate insiders own 1.00% of the company’s stock.

Ormat Technologies Stock Performance

Shares of Ormat Technologies stock opened at $72.50 on Friday. The company has a market cap of $4.38 billion, a P/E ratio of 36.99, a PEG ratio of 4.15 and a beta of 0.53. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The business has a 50-day moving average price of $79.25 and a two-hundred day moving average price of $75.92. Ormat Technologies, Inc. has a 1-year low of $59.41 and a 1-year high of $84.30.

Ormat Technologies (NYSE:ORA) last issued its earnings results on Wednesday, November 6th. The energy company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. The business had revenue of $211.80 million during the quarter, compared to the consensus estimate of $215.53 million. Ormat Technologies had a return on equity of 5.27% and a net margin of 13.33%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.47 earnings per share. As a group, analysts anticipate that Ormat Technologies, Inc. will post 1.93 EPS for the current year.

Ormat Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Wednesday, November 20th. Ormat Technologies’s payout ratio is 24.49%.

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.