EntryPoint Capital LLC Acquires Shares of 2,935 Ormat Technologies, Inc. $ORA

Key Points

• EntryPoint Capital LLC acquired 2,935 shares of Ormat Technologies, valued at approximately $208,000, indicating a growing interest from hedge funds in the energy sector.
• Ormat Technologies recently reported a quarterly earnings per share of $0.48, exceeding analyst expectations, with revenue increasing by 9.9% compared to the same quarter last year.
• Insider transactions showed significant sales of shares by directors, indicating a decreased ownership percentage by insiders in the company.

EntryPoint Capital LLC bought a new stake in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 2,935 shares of the energy company's stock, valued at approximately $208,000.

Several other large investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new position in Ormat Technologies in the 1st quarter valued at approximately $4,116,000. Corient IA LLC acquired a new position in Ormat Technologies in the 1st quarter valued at approximately $283,000. Roubaix Capital LLC acquired a new position in Ormat Technologies in the 1st quarter valued at approximately $5,030,000. Dimensional Fund Advisors LP raised its holdings in Ormat Technologies by 19.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,890,235 shares of the energy company's stock valued at $133,770,000 after acquiring an additional 303,756 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Ormat Technologies by 30.7% in the 1st quarter. Russell Investments Group Ltd. now owns 1,072 shares of the energy company's stock worth $76,000 after buying an additional 252 shares in the last quarter. Institutional investors and hedge funds own 95.49% of the company's stock.

Ormat Technologies Price Performance

ORA stock traded down $1.01 during midday trading on Friday, reaching $91.96. 114,128 shares of the company's stock traded hands, compared to its average volume of 514,137. The company has a 50-day simple moving average of $88.44 and a two-hundred day simple moving average of $77.56. Ormat Technologies, Inc. has a 1-year low of $61.58 and a 1-year high of $95.36. The company has a market cap of $5.58 billion, a price-to-earnings ratio of 42.77, a PEG ratio of 4.29 and a beta of 0.68. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.77.

Ormat Technologies (NYSE:ORA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The energy company reported $0.48 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.11. The firm had revenue of $234.02 million for the quarter, compared to analyst estimates of $225.26 million. Ormat Technologies had a return on equity of 5.47% and a net margin of 14.49%.The business's quarterly revenue was up 9.9% compared to the same quarter last year. During the same period last year, the company earned $0.37 EPS. On average, analysts anticipate that Ormat Technologies, Inc. will post 1.94 earnings per share for the current year.

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Wednesday, August 20th. Ormat Technologies's payout ratio is 22.33%.

Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, Director Byron G. Wong sold 535 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $91.39, for a total transaction of $48,893.65. Following the completion of the transaction, the director directly owned 8,659 shares in the company, valued at $791,346.01. The trade was a 5.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stanley Stern sold 547 shares of the business's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $85.54, for a total transaction of $46,790.38. Following the completion of the sale, the director directly owned 6,137 shares in the company, valued at approximately $524,958.98. This represents a 8.18% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,100 shares of company stock valued at $1,024,493. 0.56% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ORA has been the subject of a number of recent research reports. Oppenheimer reissued an "outperform" rating and issued a $100.00 target price on shares of Ormat Technologies in a report on Friday, August 8th. Baird R W raised Ormat Technologies from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 30th. Piper Sandler increased their target price on Ormat Technologies from $78.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, August 19th. JPMorgan Chase & Co. increased their target price on Ormat Technologies from $75.00 to $85.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Finally, UBS Group increased their target price on Ormat Technologies from $100.00 to $105.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $93.30.

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.