Ormat Technologies, Inc. (NYSE:ORA) Shares Sold by Tidal Investments LLC

Tidal Investments LLC lowered its holdings in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 20.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,376 shares of the energy company's stock after selling 9,266 shares during the quarter. Tidal Investments LLC owned approximately 0.06% of Ormat Technologies worth $2,463,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Stuart Chaussee & Associates Inc. bought a new stake in shares of Ormat Technologies in the 4th quarter valued at about $34,000. AlphaQuest LLC raised its holdings in shares of Ormat Technologies by 4,691.7% in the 4th quarter. AlphaQuest LLC now owns 575 shares of the energy company's stock valued at $39,000 after purchasing an additional 563 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Ormat Technologies in the 4th quarter valued at about $66,000. Sterling Capital Management LLC raised its holdings in shares of Ormat Technologies by 897.8% in the 4th quarter. Sterling Capital Management LLC now owns 1,856 shares of the energy company's stock valued at $126,000 after purchasing an additional 1,670 shares in the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. bought a new stake in shares of Ormat Technologies in the 4th quarter valued at about $182,000. Institutional investors own 95.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ORA. 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 report on Thursday, May 8th. JPMorgan Chase & Co. lifted their price objective on shares of Ormat Technologies from $71.00 to $75.00 and gave the stock a "neutral" rating in a research report on Friday, February 28th. Robert W. Baird began coverage on shares of Ormat Technologies in a research report on Thursday, March 13th. They issued a "neutral" rating and a $81.00 price objective on the stock. Baird R W raised shares of Ormat Technologies to a "hold" rating in a research report on Thursday, March 13th. Finally, Jefferies Financial Group lifted their price objective on shares of Ormat Technologies from $78.00 to $86.00 and gave the stock 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $83.29.

Ormat Technologies Stock Performance

NYSE:ORA traded up $0.05 during trading hours on Wednesday, hitting $72.44. 72,143 shares of the company were exchanged, compared to its average volume of 482,225. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of 36.97, a PEG ratio of 3.18 and a beta of 0.65. Ormat Technologies, Inc. has a 52-week low of $61.58 and a 52-week high of $84.30. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87. The company's 50 day moving average price is $71.53 and its 200-day moving average price is $71.06.

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

Ormat Technologies Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Dafna Sharir sold 876 shares of the company's stock in a transaction 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 $332,850. This represents a 16.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Granot sold 1,666 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $69.00, for a total transaction of $114,954.00. Following the completion of the sale, the director now directly owns 1,910 shares in the company, valued at $131,790. This trade represents a 46.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,068 shares of company stock valued at $291,572. Insiders own 0.56% of the company's stock.

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.