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

Van ECK Associates Corp grew its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 8.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 418,653 shares of the energy company’s stock after buying an additional 33,279 shares during the period. Van ECK Associates Corp’s holdings in Ormat Technologies were worth $28,352,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Erste Asset Management GmbH purchased a new position in shares of Ormat Technologies in the third quarter worth about $19,096,000. Global Alpha Capital Management Ltd. raised its stake in shares of Ormat Technologies by 6.1% in 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. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management raised its stake in shares of Ormat Technologies by 57.3% in the fourth quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management now owns 223,937 shares of the energy company’s stock worth $15,165,000 after purchasing an additional 81,547 shares during the last quarter. Y.D. More Investments Ltd raised its stake in shares of Ormat Technologies by 13.2% in the fourth quarter. Y.D. More Investments Ltd now owns 524,416 shares of the energy company’s stock worth $36,030,000 after purchasing an additional 61,236 shares during the last quarter. Finally, Summit Partners Public Asset Management LLC raised its stake in shares of Ormat Technologies by 16.7% in the third quarter. Summit Partners Public Asset Management LLC now owns 350,000 shares of the energy company’s stock worth $26,929,000 after purchasing an additional 50,000 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

Ormat Technologies Stock Up 0.6 %

Shares of ORA stock opened at $63.27 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. Ormat Technologies, Inc. has a twelve month low of $59.41 and a twelve month high of $84.30. The stock has a 50 day moving average of $67.56 and a 200 day moving average of $73.65. The stock has a market cap of $3.83 billion, a P/E ratio of 32.28, a P/E/G ratio of 3.01 and a beta of 0.57.

Analysts Set New Price Targets

ORA has been the subject of several research analyst reports. Jefferies Financial Group initiated coverage on Ormat Technologies in a research note on Friday, January 10th. They issued a “hold” rating and a $73.00 price objective for the company. Piper Sandler initiated coverage on Ormat Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $78.00 price objective for the company. Oppenheimer raised their price objective on Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, Roth Mkm reiterated a “buy” rating and set a $92.00 price target (up from $87.00) on shares of Ormat Technologies in a research report on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $82.25.

Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, major shareholder Corp Orix sold 3,700,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $75.38, for a total value of $278,906,000.00. Following the sale, the insider now directly owns 2,976,077 shares of the company’s stock, valued at approximately $224,336,684.26. This trade represents a 55.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Granot sold 1,256 shares of Ormat Technologies stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $82.00, for a total value of $102,992.00. Following the completion of the sale, the director now directly owns 3,576 shares in the company, valued at $293,232. This represents a 25.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate 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.