Empower Advisory Group LLC Increases Stake in Ormat Technologies, Inc. (NYSE:ORA)

Empower Advisory Group LLC grew its holdings in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 202,266 shares of the energy company's stock after purchasing an additional 7,586 shares during the quarter. Empower Advisory Group LLC owned approximately 0.33% of Ormat Technologies worth $13,697,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Blue Trust Inc. raised its stake in Ormat Technologies by 180.3% in the third quarter. Blue Trust Inc. now owns 356 shares of the energy company's stock worth $26,000 after buying an additional 229 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Ormat Technologies in the 3rd quarter valued at $1,113,000. State of Alaska Department of Revenue raised its position in shares of Ormat Technologies by 7.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 6,221 shares of the energy company's stock worth $478,000 after acquiring an additional 420 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its stake in shares of Ormat Technologies by 4.4% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 26,554 shares of the energy company's stock worth $2,043,000 after purchasing an additional 1,125 shares during the last quarter. Finally, Nicola Wealth Management LTD. boosted its position in Ormat Technologies by 10.0% during the third quarter. Nicola Wealth Management LTD. now owns 44,000 shares of the energy company's stock valued at $3,385,000 after purchasing an additional 4,000 shares in the last quarter. Hedge funds and other institutional investors own 95.49% of the company's stock.

Ormat Technologies Stock Performance

ORA stock traded down $0.56 during trading on Friday, reaching $68.74. The company had a trading volume of 518,383 shares, compared to its average volume of 536,097. The company has a market cap of $4.16 billion, a price-to-earnings ratio of 35.07, a price-to-earnings-growth ratio of 3.09 and a beta of 0.57. Ormat Technologies, Inc. has a twelve month low of $59.41 and a twelve month high of $84.30. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95. The firm has a 50-day simple moving average of $66.53 and a 200-day simple moving average of $73.33.

Insider Transactions at Ormat Technologies

In other news, major shareholder Corp Orix sold 3,700,000 shares of the firm's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $75.38, for a total value of $278,906,000.00. Following the completion of the transaction, the insider now directly owns 2,976,077 shares in the company, valued at $224,336,684.26. This trade represents a 55.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David Granot sold 1,256 shares of Ormat Technologies stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $82.00, for a total value of $102,992.00. Following the sale, the director now directly owns 3,576 shares of the company's stock, valued at $293,232. This trade represents a 25.99 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

ORA has been the subject of a number of recent research reports. Oppenheimer boosted their target price on shares of Ormat Technologies from $86.00 to $91.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. Piper Sandler initiated coverage on shares of Ormat Technologies in a research note on Thursday, December 19th. They set a "neutral" rating and a $78.00 price objective for the company. Jefferies Financial Group upgraded shares of Ormat Technologies from a "hold" rating to a "buy" rating and raised their target price for the company from $73.00 to $78.00 in a research note on Thursday. Finally, Roth Mkm reaffirmed a "buy" rating and issued a $92.00 price target (up from $87.00) on shares of Ormat Technologies in a report on Friday, November 8th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Ormat Technologies presently has an average rating of "Moderate Buy" and an average price target of $82.88.

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.