Empowered Funds LLC Invests $265,000 in Ormat Technologies, Inc. (NYSE:ORA)

Empowered Funds LLC purchased a new position in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,915 shares of the energy company's stock, valued at approximately $265,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ORA. Chesapeake Capital Corp IL acquired a new stake in Ormat Technologies in the 3rd quarter valued at approximately $522,000. Holocene Advisors LP increased its holdings in Ormat Technologies by 28.7% in the 3rd quarter. Holocene Advisors LP now owns 48,121 shares of the energy company's stock valued at $3,702,000 after purchasing an additional 10,718 shares during the last quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management increased its holdings in Ormat Technologies by 57.3% in the 4th quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management now owns 223,937 shares of the energy company's stock valued at $15,165,000 after purchasing an additional 81,547 shares during the last quarter. Y.D. More Investments Ltd increased its holdings in Ormat Technologies by 13.2% in the 4th quarter. Y.D. More Investments Ltd now owns 524,416 shares of the energy company's stock valued at $36,030,000 after purchasing an additional 61,236 shares during the last quarter. Finally, Global Alpha Capital Management Ltd. increased its holdings in Ormat Technologies by 6.1% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 2,446,624 shares of the energy company's stock valued at $188,125,000 after purchasing an additional 140,882 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company's stock.

Insider Transactions at Ormat Technologies

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

Analysts Set New Price Targets

Several research firms recently weighed in on ORA. Oppenheimer lifted their target price on shares of Ormat Technologies from $86.00 to $91.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Jefferies Financial Group upgraded shares of Ormat Technologies from a "hold" rating to a "buy" rating and lifted their target price for the company from $73.00 to $78.00 in a report on Thursday. Piper Sandler assumed coverage on shares of Ormat Technologies in a report on Thursday, December 19th. They issued a "neutral" rating and a $78.00 target price for the company. Finally, Roth Mkm restated a "buy" rating and issued a $92.00 price target (up previously from $87.00) on shares of Ormat Technologies in a research note on Friday, November 8th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $82.88.

Ormat Technologies Stock Performance

NYSE:ORA opened at $68.74 on Friday. The company has a fifty day simple moving average of $66.53 and a two-hundred day simple moving average of $73.33. 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. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73. Ormat Technologies, Inc. has a 52 week low of $59.41 and a 52 week high of $84.30.

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.

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