Tidal Investments LLC Reduces Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Tidal Investments LLC reduced its stake in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 20.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,376 shares of the energy company's stock after selling 9,266 shares during the period. Tidal Investments LLC owned about 0.06% of Ormat Technologies worth $2,463,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Inspire Investing LLC grew its holdings in shares of Ormat Technologies by 11.0% in the fourth quarter. Inspire Investing LLC now owns 5,914 shares of the energy company's stock worth $400,000 after purchasing an additional 586 shares during the last quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management boosted its position in Ormat Technologies by 57.3% during the 4th quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management now owns 223,937 shares of the energy company's stock valued at $15,165,000 after buying an additional 81,547 shares during the period. Pacer Advisors Inc. grew its holdings in Ormat Technologies by 2.0% in the 4th quarter. Pacer Advisors Inc. now owns 8,026 shares of the energy company's stock worth $544,000 after acquiring an additional 160 shares during the last quarter. Perigon Wealth Management LLC increased its position in shares of Ormat Technologies by 16.4% in the fourth quarter. Perigon Wealth Management LLC now owns 3,162 shares of the energy company's stock valued at $214,000 after acquiring an additional 446 shares during the period. Finally, Caprock Group LLC raised its stake in shares of Ormat Technologies by 4.0% during the fourth quarter. Caprock Group LLC now owns 6,080 shares of the energy company's stock valued at $412,000 after acquiring an additional 235 shares during the last quarter. Institutional investors own 95.49% of the company's stock.

Ormat Technologies Stock Down 2.6%

ORA stock opened at $70.89 on Friday. Ormat Technologies, Inc. has a fifty-two week low of $61.58 and a fifty-two week high of $84.30. The company has a market capitalization of $4.30 billion, a price-to-earnings ratio of 36.17, a price-to-earnings-growth ratio of 3.18 and a beta of 0.65. The business's 50 day moving average price is $71.54 and its two-hundred day moving average price is $71.36. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95.

Ormat Technologies (NYSE:ORA - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.10. The company had revenue of $229.76 million for the quarter, compared to analyst estimates of $228.33 million. Ormat Technologies had a return on equity of 5.27% and a net margin of 13.33%. The firm's revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 earnings per share. As a group, analysts forecast that Ormat Technologies, Inc. will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders 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 dividend yield of 0.68%. The ex-dividend date of this dividend is Wednesday, May 21st. Ormat Technologies's dividend payout ratio is presently 23.30%.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Ormat Technologies

In other news, Director Dafna Sharir sold 876 shares of the business's stock in a transaction that occurred on Monday, May 19th. The stock was 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 $332,850. The trade was a 16.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David Granot sold 1,666 shares of the firm's stock in a transaction that occurred 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 transaction, the director now directly owns 1,910 shares of the company's stock, valued at approximately $131,790. This trade represents a 46.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,068 shares of company stock valued at $291,572 in the last three months. 0.56% of the stock is currently owned by company insiders.

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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