Candriam S.C.A. Reduces Stock Holdings in Ormat Technologies, Inc. $ORA

Candriam S.C.A. decreased its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 15.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,220 shares of the energy company’s stock after selling 13,353 shares during the period. Candriam S.C.A.’s holdings in Ormat Technologies were worth $7,047,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Geode Capital Management LLC grew its position in shares of 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 buying an additional 48,038 shares during the period. Canada Pension Plan Investment Board boosted its stake in Ormat Technologies by 62.6% during 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 acquiring an additional 413,384 shares in the last quarter. Norges Bank purchased a new stake in Ormat Technologies in the second quarter worth about $56,458,000. Legal & General Group Plc increased its stake in shares of Ormat Technologies by 1.5% during 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 in the last quarter. Finally, Groupama Asset Managment purchased a new position in shares of Ormat Technologies during the second quarter valued at approximately $41,880,000. 95.49% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ORA shares. Piper Sandler upped their price target on Ormat Technologies from $102.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Oppenheimer increased their target price on Ormat Technologies from $125.00 to $136.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 27th. UBS Group reaffirmed a “buy” rating and issued a $148.00 price target on shares of Ormat Technologies in a research report on Wednesday, February 4th. Barclays dropped their price target on shares of Ormat Technologies from $118.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, January 15th. Finally, Roth Mkm set a $139.00 price objective on shares of Ormat Technologies in a research note on Wednesday, January 28th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $129.44.

Ormat Technologies Price Performance

NYSE ORA opened at $123.98 on Wednesday. The business’s fifty day moving average price is $117.17 and its 200-day moving average price is $105.71. The stock has a market capitalization of $7.54 billion, a price-to-earnings ratio of 56.87, a PEG ratio of 4.91 and a beta of 0.77. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.77 and a quick ratio of 0.70. Ormat Technologies, Inc. has a 1-year low of $62.27 and a 1-year high of $132.58.

Ormat Technologies Profile

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.