Inspire Advisors LLC Makes New $252,000 Investment in Ormat Technologies, Inc. (NYSE:ORA)

Inspire Advisors LLC bought a new position in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 3,717 shares of the energy company's stock, valued at approximately $252,000.

A number of other large investors also recently bought and sold shares of ORA. State of New Jersey Common Pension Fund D lifted its holdings in 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 buying an additional 1,125 shares during the last quarter. Empower Advisory Group LLC lifted its holdings in Ormat Technologies by 4.5% during the 3rd quarter. Empower Advisory Group LLC now owns 194,680 shares of the energy company's stock worth $14,979,000 after buying an additional 8,403 shares during the last quarter. Nicola Wealth Management LTD. lifted its holdings in Ormat Technologies by 10.0% during the 3rd quarter. Nicola Wealth Management LTD. now owns 44,000 shares of the energy company's stock worth $3,385,000 after buying an additional 4,000 shares during the last quarter. Mizuho Markets Americas LLC lifted its holdings in Ormat Technologies by 5.8% during the 3rd quarter. Mizuho Markets Americas LLC now owns 151,211 shares of the energy company's stock worth $11,634,000 after buying an additional 8,317 shares during the last quarter. Finally, Chesapeake Capital Corp IL bought a new position in Ormat Technologies during the 3rd quarter worth approximately $522,000. Institutional investors own 95.49% of the company's stock.

Insider Buying and Selling at Ormat Technologies

In other news, Director David Granot sold 1,666 shares of Ormat Technologies stock in a transaction 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 directly owns 1,910 shares in the company, valued at approximately $131,790. This trade represents a 46.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Corp Orix sold 3,700,000 shares of Ormat Technologies stock in a transaction on 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 owns 2,976,077 shares in the company, 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. 1.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Piper Sandler assumed coverage on Ormat Technologies in a report on Thursday, December 19th. They issued a "neutral" rating and a $78.00 price target on the stock. Jefferies Financial Group raised Ormat Technologies from a "hold" rating to a "buy" rating and raised their price target for the stock from $73.00 to $78.00 in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. raised their price target on Ormat Technologies from $71.00 to $75.00 and gave the stock a "neutral" rating in a report on Friday, February 28th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $82.88.

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Ormat Technologies Stock Up 0.2 %

Shares of Ormat Technologies stock opened at $71.23 on Thursday. The business's fifty day moving average price is $66.67 and its two-hundred day moving average price is $73.04. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87. The company has a market capitalization of $4.31 billion, a P/E ratio of 36.34, a PEG ratio of 3.18 and a beta of 0.51. Ormat Technologies, Inc. has a 1-year low of $59.41 and a 1-year high of $84.30.

Ormat Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.67%. The ex-dividend date is Wednesday, March 12th. Ormat Technologies's payout ratio is currently 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.

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