Ardsley Advisory Partners LP Makes New Investment in Ormat Technologies, Inc. (NYSE:ORA)

Ardsley Advisory Partners LP purchased a new stake in Ormat Technologies, Inc. (NYSE:ORA - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 15,000 shares of the energy company's stock, valued at approximately $1,016,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ORA. Versant Capital Management Inc lifted its stake in shares of Ormat Technologies by 132.4% during the fourth quarter. Versant Capital Management Inc now owns 402 shares of the energy company's stock valued at $27,000 after buying an additional 229 shares during the period. AlphaQuest LLC lifted its holdings in Ormat Technologies by 4,691.7% during the 4th quarter. AlphaQuest LLC now owns 575 shares of the energy company's stock worth $39,000 after buying an additional 563 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Ormat Technologies in the fourth quarter worth $66,000. Mendota Financial Group LLC bought a new position in Ormat Technologies in the 4th quarter worth about $98,000. Finally, Sterling Capital Management LLC raised its stake in Ormat Technologies by 897.8% during the 4th quarter. Sterling Capital Management LLC now owns 1,856 shares of the energy company's stock valued at $126,000 after acquiring an additional 1,670 shares in the last quarter. 95.49% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Ormat Technologies

In other Ormat Technologies news, Director David Granot sold 1,666 shares of Ormat Technologies stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $69.00, for a total transaction of $114,954.00. Following the transaction, the director now directly owns 1,910 shares of the company's stock, valued at $131,790. The trade was a 46.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jessica Woelfel sold 409 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total value of $29,509.35. Following the sale, the insider now directly owns 6,094 shares of the company's stock, valued at $439,682.10. The trade was a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,242 shares of company stock valued at $156,427. 0.56% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on ORA. Jefferies Financial Group upped their price target on Ormat Technologies from $78.00 to $86.00 and gave the company a "buy" rating in a report on Tuesday, March 25th. StockNews.com raised shares of Ormat Technologies from a "sell" rating to a "hold" rating in a research report on Monday, April 7th. Robert W. Baird began coverage on shares of Ormat Technologies in a research note on Thursday, March 13th. They issued a "neutral" rating and a $81.00 price target on the stock. Baird R W upgraded shares of Ormat Technologies to a "hold" rating in a research note on Thursday, March 13th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Ormat Technologies from $71.00 to $75.00 and gave the stock a "neutral" rating in a research note on Friday, February 28th. Seven investment 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 company has an average rating of "Hold" and a consensus price target of $83.56.

Ormat Technologies Price Performance

ORA stock traded up $1.70 during mid-day trading on Thursday, hitting $74.01. The stock had a trading volume of 195,047 shares, compared to its average volume of 484,463. Ormat Technologies, Inc. has a 52 week low of $61.58 and a 52 week high of $84.30. The firm has a market capitalization of $4.49 billion, a P/E ratio of 37.76, a P/E/G ratio of 3.18 and a beta of 0.65. 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 firm has a fifty day simple moving average of $70.89 and a 200 day simple moving average of $71.80.

Ormat Technologies (NYSE:ORA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The energy company reported $0.68 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.10. Ormat Technologies had a return on equity of 5.27% and a net margin of 13.33%. The company had revenue of $229.76 million for the quarter, compared to analyst estimates of $228.33 million. During the same period in the previous year, the firm earned $0.64 earnings per share. The firm's quarterly revenue was up 2.5% on a year-over-year basis. As a group, research analysts forecast that Ormat Technologies, Inc. will post 1.94 EPS for the current year.

Ormat Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend was Wednesday, March 12th. Ormat Technologies's dividend payout ratio is currently 23.53%.

About Ormat Technologies

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.