4,607 Shares in Ormat Technologies, Inc. (NYSE:ORA) Purchased by AXQ Capital LP

AXQ Capital LP bought a new stake in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,607 shares of the energy company's stock, valued at approximately $312,000.

Other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc lifted its position in Ormat Technologies by 132.4% during the fourth 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 during the period. AlphaQuest LLC raised its stake in Ormat Technologies by 4,691.7% during the 4th quarter. AlphaQuest LLC now owns 575 shares of the energy company's stock valued at $39,000 after buying an additional 563 shares during the last quarter. Mendota Financial Group LLC bought a new position in shares of Ormat Technologies during the 4th quarter valued at $98,000. Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of Ormat Technologies in the 4th quarter worth $182,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Ormat Technologies in the fourth quarter worth $204,000. Hedge funds and other institutional investors own 95.49% of the company's stock.

Insider Buying and Selling

In related news, Director David Granot sold 1,666 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $69.00, for a total value of $114,954.00. Following the sale, the director now directly owns 1,910 shares in the company, valued at approximately $131,790. The trade was a 46.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jessica Woelfel sold 409 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total value of $29,509.35. Following the transaction, the insider now owns 6,094 shares of the company's stock, valued at $439,682.10. This represents a 6.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,242 shares of company stock worth $156,427. 1.00% of the stock is owned by insiders.

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Ormat Technologies Price Performance

Shares of NYSE ORA traded up $0.29 during mid-day trading on Thursday, reaching $70.10. The company's stock had a trading volume of 295,370 shares, compared to its average volume of 471,176. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87. Ormat Technologies, Inc. has a 52 week low of $59.41 and a 52 week high of $84.30. The stock has a fifty day moving average of $67.47 and a two-hundred day moving average of $72.87. The firm has a market capitalization of $4.24 billion, a PE ratio of 35.76, a P/E/G ratio of 3.18 and a beta of 0.51.

Ormat Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.68%. The ex-dividend date was Wednesday, March 12th. Ormat Technologies's dividend payout ratio (DPR) is presently 23.53%.

Analyst Ratings Changes

Several brokerages have issued reports on ORA. Jefferies Financial Group raised 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. Baird R W raised shares of Ormat Technologies to a "hold" rating in a report on Thursday, March 13th. 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 report on Friday, February 28th. Piper Sandler began coverage on shares of Ormat Technologies in a research report on Thursday, December 19th. They set a "neutral" rating and a $78.00 price objective for the company. Finally, Robert W. Baird started coverage on Ormat Technologies in a research note on Thursday, March 13th. They issued a "neutral" rating and a $81.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $83.56.

Ormat Technologies Company 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.