71,082 Shares in Ormat Technologies, Inc. $ORA Acquired by Roubaix Capital LLC

Key Points

• Roubaix Capital LLC has invested approximately $5.03 million in Ormat Technologies, acquiring 71,082 shares, which now make up 2.6% of their investment portfolio.
• Several institutional investors have increased their stakes in Ormat Technologies, with Harel Insurance Investments & Financial Services Ltd. notably raising its stake by 273,109.4%.
• Ormat Technologies reported strong quarterly earnings, with $0.48 earnings per share, exceeding analyst expectations of $0.37, and announced a quarterly dividend of $0.12 per share.

Roubaix Capital LLC bought a new stake in Ormat Technologies, Inc. (NYSE:ORA - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 71,082 shares of the energy company's stock, valued at approximately $5,030,000. Ormat Technologies makes up 2.6% of Roubaix Capital LLC's investment portfolio, making the stock its 12th biggest position. Roubaix Capital LLC owned approximately 0.12% of Ormat Technologies as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of ORA. Invesco Ltd. raised its stake in shares of Ormat Technologies by 3.1% in the 4th quarter. Invesco Ltd. now owns 225,851 shares of the energy company's stock valued at $15,295,000 after purchasing an additional 6,702 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Ormat Technologies during the fourth quarter worth about $204,000. Sterling Capital Management LLC raised its stake in Ormat Technologies by 897.8% during the fourth quarter. Sterling Capital Management LLC now owns 1,856 shares of the energy company's stock worth $126,000 after acquiring an additional 1,670 shares during the period. XTX Topco Ltd acquired a new stake in Ormat Technologies during the fourth quarter worth about $375,000. Finally, Guggenheim Capital LLC raised its stake in Ormat Technologies by 18.0% during the fourth quarter. Guggenheim Capital LLC now owns 7,087 shares of the energy company's stock worth $480,000 after acquiring an additional 1,080 shares during the period. Institutional investors and hedge funds own 95.49% of the company's stock.

Insider Activity at Ormat Technologies

In related news, Director Dafna Sharir sold 1,601 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $85.63, for a total transaction of $137,093.63. Following the transaction, the director owned 3,238 shares in the company, valued at $277,269.94. This trade represents a 33.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michal Marom sold 895 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $73.47, for a total transaction of $65,755.65. Following the transaction, the director owned 3,080 shares in the company, valued at $226,287.60. This represents a 22.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,038 shares of company stock worth $337,192 over the last ninety days. Insiders own 0.56% of the company's stock.

Ormat Technologies Price Performance

Shares of NYSE ORA traded up $0.2210 during mid-day trading on Thursday, reaching $92.5010. 329,929 shares of the company traded hands, compared to its average volume of 514,547. Ormat Technologies, Inc. has a fifty-two week low of $61.58 and a fifty-two week high of $93.26. 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 firm has a market cap of $5.62 billion, a PE ratio of 43.02, a price-to-earnings-growth ratio of 4.32 and a beta of 0.68. The stock has a fifty day simple moving average of $87.06 and a 200-day simple moving average of $76.35.

Ormat Technologies (NYSE:ORA - Get Free Report) last posted 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. Ormat Technologies had a net margin of 14.49% and a return on equity of 5.47%. The business had revenue of $234.02 million for the quarter, compared to analyst estimates of $225.26 million. During the same quarter last year, the business earned $0.37 earnings per share. The business's revenue for the quarter was up 9.9% on a year-over-year basis. Equities research analysts anticipate that Ormat Technologies, Inc. will post 1.94 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Cowen reiterated a "hold" rating on shares of Ormat Technologies in a research note on Friday, August 8th. Piper Sandler increased their price objective on shares of Ormat Technologies from $78.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday. Barclays dropped their price objective on shares of Ormat Technologies from $90.00 to $89.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. TD Cowen increased their price objective 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. Finally, UBS Group raised their price target on shares of Ormat Technologies from $100.00 to $105.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Ormat Technologies has a consensus rating of "Moderate Buy" and an average price target of $93.30.

Ormat Technologies Company 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.