Ormat Technologies, Inc. (NYSE:ORA) Stock Holdings Boosted by Dark Forest Capital Management LP

Dark Forest Capital Management LP grew its position in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 465.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,342 shares of the energy company's stock after acquiring an additional 29,915 shares during the quarter. Dark Forest Capital Management LP owned about 0.06% of Ormat Technologies worth $2,461,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Principal Financial Group Inc. raised its holdings in Ormat Technologies by 5.6% in the fourth quarter. Principal Financial Group Inc. now owns 131,906 shares of the energy company's stock valued at $8,933,000 after buying an additional 7,025 shares during the period. Vanguard Group Inc. increased its position in shares of Ormat Technologies by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 6,043,996 shares of the energy company's stock worth $409,305,000 after acquiring an additional 274,540 shares in the last quarter. Element Capital Management LLC purchased a new position in shares of Ormat Technologies in the 4th quarter valued at $2,113,000. Daiwa Securities Group Inc. acquired a new position in shares of Ormat Technologies during the 4th quarter valued at $752,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Ormat Technologies by 6.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 618,937 shares of the energy company's stock worth $41,914,000 after purchasing an additional 39,689 shares during the period. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on ORA. Jefferies Financial Group raised their price objective on Ormat Technologies from $78.00 to $86.00 and gave the company a "buy" rating in a research report on Tuesday, March 25th. Baird R W raised Ormat Technologies to a "hold" rating in a research report on Thursday, March 13th. JPMorgan Chase & Co. upped 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. Robert W. Baird initiated coverage on shares of Ormat Technologies in a research note on Thursday, March 13th. They set a "neutral" rating and a $81.00 price objective on the stock. Finally, StockNews.com raised shares of Ormat Technologies from a "sell" rating to a "hold" rating in a research report on Monday, April 7th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $83.56.

Insider Activity

In related news, 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 sale, the director now directly owns 1,910 shares of the company's stock, valued at approximately $131,790. This represents a 46.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jessica Woelfel sold 409 shares of Ormat Technologies stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $72.15, for a total transaction of $29,509.35. Following the completion of the transaction, the insider now directly owns 6,094 shares of the company's stock, valued at approximately $439,682.10. This represents a 6.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,242 shares of company stock worth $156,427. 0.56% of the stock is currently owned by corporate insiders.

Ormat Technologies Stock Up 0.6 %

Shares of ORA stock traded up $0.40 during mid-day trading on Friday, reaching $73.12. 264,000 shares of the company were exchanged, compared to its average volume of 486,639. 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 business's 50 day simple moving average is $70.28 and its 200 day simple moving average is $72.05. The company has a market capitalization of $4.43 billion, a P/E ratio of 37.31, a P/E/G ratio of 3.18 and a beta of 0.52. Ormat Technologies, Inc. has a fifty-two week low of $61.58 and a fifty-two week high of $84.30.

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 given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend was Wednesday, March 12th. Ormat Technologies's payout ratio is currently 23.53%.

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.