Aigen Investment Management LP Invests $425,000 in Ormat Technologies, Inc. (NYSE:ORA)

Aigen Investment Management LP purchased a new stake in Ormat Technologies, Inc. (NYSE:ORA - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 6,278 shares of the energy company's stock, valued at approximately $425,000.

Other large investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its holdings in Ormat Technologies by 132.4% in the 4th quarter. Versant Capital Management Inc now owns 402 shares of the energy company's stock valued at $27,000 after purchasing an additional 229 shares in the last quarter. Mendota Financial Group LLC acquired a new stake in shares of Ormat Technologies during the fourth quarter valued at about $98,000. Perigon Wealth Management LLC grew its stake in shares of Ormat Technologies by 16.4% during 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 in the last quarter. Empowered Funds LLC acquired a new stake in shares of Ormat Technologies during the fourth quarter valued at about $265,000. Finally, Cerity Partners LLC grew its stake in shares of Ormat Technologies by 62.5% during the third quarter. Cerity Partners LLC now owns 5,496 shares of the energy company's stock valued at $423,000 after acquiring an additional 2,114 shares in the last quarter. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Ormat Technologies

In other Ormat Technologies news, major shareholder Corp Orix sold 3,700,000 shares of the business's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $75.38, for a total value of $278,906,000.00. Following the transaction, the insider now directly owns 2,976,077 shares in the company, valued at $224,336,684.26. The trade was a 55.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David Granot sold 1,666 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $69.00, for a total transaction of $114,954.00. Following the transaction, the director now owns 1,910 shares in the company, valued at $131,790. The trade was a 46.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company's stock.

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Analysts Set New Price Targets

ORA has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their price target 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. Jefferies Financial Group raised shares of Ormat Technologies from a "hold" rating to a "buy" rating and increased their price target for the stock from $73.00 to $78.00 in a research report on Thursday, February 20th. Finally, Piper Sandler initiated coverage on shares of Ormat Technologies in a research report on Thursday, December 19th. They set a "neutral" rating and a $78.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Ormat Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $82.88.

Ormat Technologies Stock Performance

ORA traded up $1.26 during trading on Friday, hitting $70.64. The stock had a trading volume of 606,190 shares, compared to its average volume of 466,015. The firm has a market cap of $4.27 billion, a PE ratio of 36.04, a P/E/G ratio of 3.18 and a beta of 0.51. Ormat Technologies, Inc. has a 12 month low of $59.41 and a 12 month high of $84.30. 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 50 day simple moving average of $66.51 and a 200-day simple moving average of $73.06.

Ormat Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.48 annualized dividend and a dividend yield of 0.68%. Ormat Technologies's payout ratio is 23.53%.

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.