Green Alpha Advisors LLC Makes New $660,000 Investment in Ormat Technologies, Inc. $ORA

Green Alpha Advisors LLC bought a new position in Ormat Technologies, Inc. (NYSE:ORA) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 6,063 shares of the energy company’s stock, valued at approximately $660,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd acquired a new position in Ormat Technologies during the 4th quarter worth approximately $26,000. Main Street Group LTD purchased a new position in shares of Ormat Technologies during the 1st quarter worth about $29,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Ormat Technologies during the 4th quarter worth about $31,000. Los Angeles Capital Management LLC acquired a new stake in shares of Ormat Technologies in the fourth quarter worth approximately $32,000. Finally, Smartleaf Asset Management LLC grew its holdings in Ormat Technologies by 245.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 297 shares of the energy company’s stock valued at $33,000 after purchasing an additional 211 shares during the period. Institutional investors and hedge funds own 95.49% of the company’s stock.

Insider Activity at Ormat Technologies

In other news, Director Stanley Stern sold 250 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $138.42, for a total value of $34,605.00. Following the transaction, the director owned 5,800 shares of the company’s stock, valued at approximately $802,836. This trade represents a 4.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $112.00 price target on shares of Ormat Technologies in a research report on Monday, August 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ormat Technologies in a report on Friday, July 17th. Wolfe Research initiated coverage on shares of Ormat Technologies in a research note on Monday, June 8th. They set a “peer perform” rating for the company. Barclays dropped their price objective on Ormat Technologies from $127.00 to $122.00 and set an “overweight” rating for the company in a report on Monday, August 10th. Finally, JPMorgan Chase & Co. lifted their target price on Ormat Technologies from $106.00 to $123.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.83.

Ormat Technologies Stock Up 0.3%

ORA opened at $108.62 on Friday. The firm has a 50 day moving average price of $110.90 and a 200 day moving average price of $116.68. The company has a market cap of $6.68 billion, a PE ratio of 53.51, a price-to-earnings-growth ratio of 4.38 and a beta of 0.90. Ormat Technologies, Inc. has a 1 year low of $89.08 and a 1 year high of $146.39. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.00 and a current ratio of 1.05.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings results on Wednesday, August 5th. The energy company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.26 by $0.24. The firm had revenue of $258.76 million for the quarter, compared to analyst estimates of $240.03 million. Ormat Technologies had a net margin of 10.66% and a return on equity of 6.61%. Ormat Technologies’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.48 earnings per share. Sell-side analysts expect that Ormat Technologies, Inc. will post 2.47 earnings per share for the current year.

Ormat Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, August 19th. Ormat Technologies’s dividend payout ratio (DPR) is currently 23.65%.

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.