Squarepoint Ops LLC Makes New $3.04 Million Investment in Ormat Technologies, Inc. (NYSE:ORA)

Squarepoint Ops LLC bought a new position in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 44,923 shares of the energy company's stock, valued at approximately $3,042,000. Squarepoint Ops LLC owned about 0.07% of Ormat Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Twinbeech Capital LP bought a new position in shares of Ormat Technologies during the 4th quarter valued at about $453,000. Stuart Chaussee & Associates Inc. bought a new position in Ormat Technologies during the fourth quarter valued at approximately $34,000. Sherbrooke Park Advisers LLC bought a new position in Ormat Technologies during the fourth quarter valued at approximately $286,000. Raiffeisen Bank International AG purchased a new position in Ormat Technologies during the 4th quarter valued at approximately $4,376,000. Finally, Polar Asset Management Partners Inc. bought a new stake in Ormat Technologies in the 4th quarter worth approximately $5,079,000. 95.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ORA shares. JPMorgan Chase & Co. boosted their price objective on Ormat Technologies from $71.00 to $75.00 and gave the stock a "neutral" rating in a research note on Friday, February 28th. Wall Street Zen raised Ormat Technologies from a "sell" rating to a "hold" rating in a research report on Monday, April 7th. Robert W. Baird initiated coverage on Ormat Technologies in a report on Thursday, March 13th. They set a "neutral" rating and a $81.00 price target on the stock. Barclays lifted their price objective on shares of Ormat Technologies from $75.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 8th. Finally, Jefferies Financial Group boosted their price objective on shares of Ormat Technologies from $78.00 to $86.00 and gave the company a "buy" rating in a research report on Tuesday, March 25th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Ormat Technologies presently has an average rating of "Hold" and a consensus target price of $83.29.

Ormat Technologies Trading Up 0.3%

NYSE:ORA traded up $0.25 on Wednesday, reaching $72.64. The company's stock had a trading volume of 366,351 shares, compared to its average volume of 483,588. Ormat Technologies, Inc. has a 12-month low of $61.58 and a 12-month high of $84.30. The stock has a 50 day moving average price of $71.55 and a 200 day moving average price of $71.07. The firm has a market cap of $4.40 billion, a price-to-earnings ratio of 37.06, a price-to-earnings-growth ratio of 3.18 and a beta of 0.65. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73.

Ormat Technologies (NYSE:ORA - Get Free Report) last announced its earnings results on Wednesday, May 7th. The energy company reported $0.68 earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the company earned $0.64 earnings per share. The firm's quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities analysts anticipate that Ormat Technologies, Inc. will post 1.94 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 21st will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Wednesday, May 21st. Ormat Technologies's dividend payout ratio is currently 23.30%.

Insider Activity

In related news, Director David Granot sold 1,666 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $69.00, for a total value of $114,954.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dafna Sharir sold 876 shares of the company's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $75.00, for a total value of $65,700.00. Following the sale, the director now directly owns 4,438 shares of the company's stock, valued at approximately $332,850. This represents a 16.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,068 shares of company stock worth $291,572. 0.56% of the stock is currently owned by company insiders.

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.