Strs Ohio reduced its position in shares of Ormat Technologies, Inc. (NYSE:ORA) by 61.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 4,900 shares of the energy company’s stock after selling 7,900 shares during the quarter. Strs Ohio’s holdings in Ormat Technologies were worth $260,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Smithfield Trust Co. bought a new stake in Ormat Technologies in the second quarter worth $129,000. Cubist Systematic Strategies LLC bought a new stake in Ormat Technologies in the first quarter worth $182,000. SG Americas Securities LLC lifted its position in Ormat Technologies by 37.1% in the first quarter. SG Americas Securities LLC now owns 3,946 shares of the energy company’s stock worth $222,000 after buying an additional 1,068 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Ormat Technologies in the first quarter worth $267,000. Finally, Royal Bank of Canada lifted its position in Ormat Technologies by 103.6% in the first quarter. Royal Bank of Canada now owns 5,445 shares of the energy company’s stock worth $307,000 after buying an additional 2,771 shares during the last quarter. Hedge funds and other institutional investors own 72.87% of the company’s stock.
A number of brokerages recently issued reports on ORA. ValuEngine downgraded Ormat Technologies from a “hold” rating to a “sell” rating in a research report on Thursday. Zacks Investment Research upgraded Ormat Technologies from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research report on Wednesday, July 18th. TheStreet downgraded Ormat Technologies from a “b-” rating to a “c+” rating in a research report on Thursday, August 9th. Guggenheim downgraded Ormat Technologies from a “buy” rating to a “neutral” rating and set a $72.00 price target for the company. in a research report on Wednesday, June 13th. Finally, JPMorgan Chase & Co. upgraded Ormat Technologies from a “neutral” rating to an “overweight” rating and lowered their price target for the stock from $64.00 to $60.00 in a research report on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Ormat Technologies currently has a consensus rating of “Hold” and an average price target of $64.80.
Shares of NYSE:ORA traded down $0.18 on Friday, hitting $52.18. 177,219 shares of the company’s stock were exchanged, compared to its average volume of 233,688. Ormat Technologies, Inc. has a 12 month low of $45.79 and a 12 month high of $70.68. The company has a market cap of $2.74 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 2.87 and a beta of 1.47. The company has a current ratio of 1.16, a quick ratio of 1.05 and a debt-to-equity ratio of 0.68.
Ormat Technologies (NYSE:ORA) last released its earnings results on Tuesday, August 7th. The energy company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.17). Ormat Technologies had a return on equity of 9.60% and a net margin of 18.88%. The business had revenue of $178.30 million for the quarter, compared to the consensus estimate of $176.06 million. As a group, equities research analysts predict that Ormat Technologies, Inc. will post 1.71 EPS for the current fiscal year.
In other news, EVP Bob Sullivan sold 20,329 shares of Ormat Technologies stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $56.94, for a total transaction of $1,157,533.26. Following the completion of the sale, the executive vice president now directly owns 23,329 shares in the company, valued at $1,328,353.26. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.50% of the stock is currently owned by company insiders.
Ormat Technologies Company Profile
Ormat Technologies, Inc engages in the geothermal and recovered energy power business worldwide. The company operates through Electricity and Product segments. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity. This segment also offers energy storage, demand response, and energy management related services.
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