EntryPoint Capital LLC Purchases 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 purchased a new stake in Ormat Technologies, Inc. (NYSE:ORA - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,935 shares of the energy company's stock, valued at approximately $208,000.

Other hedge funds have also recently bought and sold shares of the company. Stuart Chaussee & Associates Inc. bought a new position in Ormat Technologies in the fourth quarter valued at approximately $34,000. UMB Bank n.a. grew its stake in Ormat Technologies by 42.6% in the first quarter. UMB Bank n.a. now owns 880 shares of the energy company's stock valued at $62,000 after purchasing an additional 263 shares in the last quarter. Signaturefd LLC grew its stake in Ormat Technologies by 60.6% in the first quarter. Signaturefd LLC now owns 890 shares of the energy company's stock valued at $63,000 after purchasing an additional 336 shares in the last quarter. CWM LLC lifted its position in shares of Ormat Technologies by 294.2% in the first quarter. CWM LLC now owns 887 shares of the energy company's stock valued at $63,000 after buying an additional 662 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Ormat Technologies by 30.7% in the first quarter. Russell Investments Group Ltd. now owns 1,072 shares of the energy company's stock valued at $76,000 after buying an additional 252 shares during the last quarter. 95.49% of the stock is currently owned by institutional investors.

Insider Transactions at Ormat Technologies

In related news, Director Michal Marom sold 895 shares of Ormat Technologies stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $73.47, for a total transaction of $65,755.65. Following the completion of the sale, the director directly owned 3,080 shares of the company's stock, valued at approximately $226,287.60. This trade represents a 22.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Dafna Sharir sold 1,601 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $85.63, for a total value of $137,093.63. Following the transaction, the director owned 3,238 shares in the company, valued at approximately $277,269.94. This trade represents a 33.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,038 shares of company stock valued at $337,192. 0.56% of the stock is currently owned by company insiders.

Ormat Technologies Stock Performance

NYSE:ORA opened at $94.8990 on Friday. The stock has a market cap of $5.76 billion, a P/E ratio of 44.14, a PEG ratio of 4.41 and a beta of 0.68. The stock has a 50 day simple moving average of $87.65 and a 200 day simple moving average of $76.86. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.77. Ormat Technologies, Inc. has a 1-year low of $61.58 and a 1-year high of $95.37.

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

Ormat Technologies Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have recently issued reports on ORA. Barclays cut their price objective on Ormat Technologies from $90.00 to $89.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. Robert W. Baird raised Ormat Technologies from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $87.00 to $103.00 in a research report on Wednesday, July 30th. UBS Group raised their price objective on Ormat Technologies from $100.00 to $105.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. raised their price objective on Ormat Technologies from $75.00 to $85.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Finally, Baird R W raised Ormat Technologies from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 30th. One 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. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $93.30.

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.

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