Dark Forest Capital Management LP Has $2.46 Million Stock Position in Ormat Technologies, Inc. (NYSE:ORA)

Dark Forest Capital Management LP boosted its position in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 465.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 36,342 shares of the energy company's stock after purchasing an additional 29,915 shares during the period. Dark Forest Capital Management LP owned 0.06% of Ormat Technologies worth $2,461,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Hsbc Holdings PLC lifted its position in shares of Ormat Technologies by 342.7% in the fourth quarter. Hsbc Holdings PLC now owns 34,141 shares of the energy company's stock worth $2,313,000 after purchasing an additional 26,429 shares in the last quarter. Stifel Financial Corp purchased a new stake in shares of Ormat Technologies during the fourth quarter worth $389,000. Tower Research Capital LLC TRC grew its stake in Ormat Technologies by 189.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,120 shares of the energy company's stock valued at $482,000 after purchasing an additional 4,660 shares in the last quarter. MetLife Investment Management LLC increased its position in Ormat Technologies by 13.8% in the 4th quarter. MetLife Investment Management LLC now owns 65,954 shares of the energy company's stock worth $4,466,000 after purchasing an additional 8,021 shares during the last quarter. Finally, Natixis acquired a new stake in shares of Ormat Technologies during the 4th quarter valued at about $4,701,000. 95.49% of the stock is owned by institutional investors and hedge funds.

Ormat Technologies Stock Down 0.4 %

Shares of NYSE:ORA traded down $0.26 during trading on Monday, hitting $72.90. 51,753 shares of the company's stock traded hands, compared to its average volume of 484,117. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The company has a market cap of $4.42 billion, a price-to-earnings ratio of 37.11, a price-to-earnings-growth ratio of 3.18 and a beta of 0.52. The company has a 50-day moving average price of $70.28 and a 200-day moving average price of $72.00. Ormat Technologies, Inc. has a 52 week low of $61.58 and a 52 week high of $84.30.

Ormat Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Wednesday, March 12th. Ormat Technologies's dividend payout ratio (DPR) is presently 23.53%.

Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, 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 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jessica Woelfel sold 409 shares of Ormat Technologies stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $72.15, for a total value of $29,509.35. Following the sale, the insider now directly owns 6,094 shares of the company's stock, valued at approximately $439,682.10. The trade was a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,242 shares of company stock valued at $156,427 in the last 90 days. 0.56% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Ormat Technologies from $71.00 to $75.00 and gave the company a "neutral" rating in a research note on Friday, February 28th. StockNews.com upgraded Ormat Technologies from a "sell" rating to a "hold" rating in a research note on Monday, April 7th. Baird R W upgraded shares of Ormat Technologies to a "hold" rating in a research note on Thursday, March 13th. 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 for the company. Finally, Jefferies Financial Group boosted their target price on Ormat Technologies from $78.00 to $86.00 and gave the stock a "buy" rating in a research report on Tuesday, March 25th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $83.56.

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.