Jump Financial LLC Cuts Stock Position in Ormat Technologies, Inc. $ORA

Key Points

• Jump Financial LLC has completely sold its stake in Ormat Technologies, reducing its holdings from over 6 million shares to just 3,093 shares.
• A range of other institutional investors, including Raymond James and Stifel Financial, have recently modified their positions in Ormat Technologies, reflecting ongoing investor interest.
• Ormat Technologies reported a 9.9% increase in revenue year-over-year for the latest quarter, with earnings per share surpassing analyst estimates.

Jump Financial LLC lessened its stake in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 100.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,093 shares of the energy company's stock after selling 6,496,907 shares during the quarter. Jump Financial LLC's holdings in Ormat Technologies were worth $219,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ORA. Stuart Chaussee & Associates Inc. bought a new stake in shares of Ormat Technologies in the fourth quarter valued at $34,000. UMB Bank n.a. raised 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 raised 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 stake in Ormat Technologies by 294.2% during the first quarter. CWM LLC now owns 887 shares of the energy company's stock worth $63,000 after purchasing an additional 662 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Ormat Technologies by 30.7% during the first quarter. Russell Investments Group Ltd. now owns 1,072 shares of the energy company's stock worth $76,000 after purchasing an additional 252 shares during the last quarter. Institutional investors own 95.49% of the company's stock.

Insider Activity at Ormat Technologies

In related news, Director Stanley Stern sold 876 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $91.98, for a total value of $80,574.48. Following the completion of the transaction, the director directly owned 5,261 shares in the company, valued at $483,906.78. This trade represents a 14.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jessica Woelfel sold 692 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $94.57, for a total transaction of $65,442.44. Following the sale, the insider directly owned 5,234 shares in the company, valued at $494,979.38. The trade was a 11.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,976 shares of company stock valued at $1,105,067 over the last ninety days. Insiders own 0.56% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on ORA shares. JPMorgan Chase & Co. lifted their price objective on Ormat Technologies from $75.00 to $85.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Robert W. Baird raised Ormat Technologies from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $87.00 to $103.00 in a research note on Wednesday, July 30th. TD Cowen lifted their target price on shares of Ormat Technologies from $76.00 to $85.00 and gave the stock a "hold" rating in a research note on Friday, August 8th. Oppenheimer reiterated an "outperform" rating and set a $100.00 price target on shares of Ormat Technologies in a report on Friday, August 8th. Finally, Baird R W raised shares of Ormat Technologies from a "hold" rating to a "strong-buy" rating in a 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 given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $93.30.

Ormat Technologies Trading Down 0.6%

NYSE:ORA traded down $0.59 during mid-day trading on Friday, reaching $91.11. 369,847 shares of the company's stock traded hands, compared to its average volume of 536,515. Ormat Technologies, Inc. has a 12-month low of $61.58 and a 12-month high of $95.36. The firm has a market capitalization of $5.53 billion, a price-to-earnings ratio of 42.38, a PEG ratio of 4.24 and a beta of 0.69. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.70 and a quick ratio of 0.64. The company has a 50 day moving average price of $89.17 and a 200-day moving average price of $78.79.

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

Ormat Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 20th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Wednesday, August 20th. Ormat Technologies's dividend payout ratio (DPR) is presently 22.33%.

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.