Ormat Technologies, Inc. (NYSE:ORA) Shares Acquired by RWC Asset Management LLP

RWC Asset Management LLP boosted its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 348.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 165,599 shares of the energy company’s stock after buying an additional 128,705 shares during the quarter. RWC Asset Management LLP’s holdings in Ormat Technologies were worth $11,214,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Blue Trust Inc. boosted its stake in shares of Ormat Technologies by 180.3% during the 3rd quarter. Blue Trust Inc. now owns 356 shares of the energy company’s stock worth $26,000 after acquiring an additional 229 shares in the last quarter. Versant Capital Management Inc increased its stake in Ormat Technologies by 132.4% in the 4th quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock worth $27,000 after purchasing an additional 229 shares in the last quarter. Mendota Financial Group LLC acquired a new stake in Ormat Technologies during the 4th quarter worth about $98,000. Perigon Wealth Management LLC lifted its stake in Ormat Technologies by 16.4% during the fourth quarter. Perigon Wealth Management LLC now owns 3,162 shares of the energy company’s stock valued at $214,000 after buying an additional 446 shares in the last quarter. Finally, Empowered Funds LLC acquired a new position in shares of Ormat Technologies in the fourth quarter worth about $265,000. Institutional investors own 95.49% of the company’s stock.

Analysts Set New Price Targets

ORA has been the topic of a number of recent analyst reports. Roth Mkm restated a “buy” rating and set a $92.00 price target (up previously from $87.00) on shares of Ormat Technologies in a report on Friday, November 8th. Piper Sandler began coverage on Ormat Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $78.00 target price for the company. Oppenheimer lifted their price target on Ormat Technologies from $86.00 to $91.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Jefferies Financial Group raised Ormat Technologies from a “hold” rating to a “buy” rating and increased their price objective for the stock from $73.00 to $78.00 in a research note on Thursday. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.88.

Ormat Technologies Price Performance

ORA opened at $68.74 on Monday. The stock has a fifty day moving average price of $66.53 and a 200 day moving average price of $73.33. 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 1 year low of $59.41 and a 1 year high of $84.30. The stock has a market cap of $4.16 billion, a price-to-earnings ratio of 35.07, a PEG ratio of 3.18 and a beta of 0.57.

Insider Activity

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

Ormat Technologies 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.