Dark Forest Capital Management LP Buys 29,915 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Dark Forest Capital Management LP increased its position in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 465.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,342 shares of the energy company's stock after purchasing an additional 29,915 shares during the period. Dark Forest Capital Management LP owned 0.06% of Ormat Technologies worth $2,461,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Hsbc Holdings PLC raised its stake in shares of Ormat Technologies by 342.7% in the 4th quarter. Hsbc Holdings PLC now owns 34,141 shares of the energy company's stock worth $2,313,000 after buying an additional 26,429 shares in the last quarter. Stifel Financial Corp bought a new stake in Ormat Technologies during the fourth quarter worth approximately $389,000. Tower Research Capital LLC TRC grew its position in Ormat Technologies by 189.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,120 shares of the energy company's stock worth $482,000 after buying an additional 4,660 shares during the last quarter. MetLife Investment Management LLC boosted its stake in shares of Ormat Technologies by 13.8% during the 4th quarter. MetLife Investment Management LLC now owns 65,954 shares of the energy company's stock worth $4,466,000 after acquiring an additional 8,021 shares in the last quarter. Finally, Natixis acquired a new stake in shares of Ormat Technologies during the fourth quarter worth $4,701,000. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ORA. Baird R W raised Ormat Technologies to a "hold" rating in a research note on Thursday, March 13th. Robert W. Baird began coverage on shares of Ormat Technologies in a research report on Thursday, March 13th. They issued a "neutral" rating and a $81.00 price target for the company. JPMorgan Chase & Co. lifted their price objective on shares of Ormat Technologies from $71.00 to $75.00 and gave the stock a "neutral" rating in a research report on Friday, February 28th. Jefferies Financial Group increased their target price on Ormat Technologies from $78.00 to $86.00 and gave the company a "buy" rating in a report on Tuesday, March 25th. Finally, StockNews.com raised Ormat Technologies from a "sell" rating to a "hold" rating in a research report on Monday, April 7th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Ormat Technologies presently has a consensus rating of "Hold" and a consensus price target of $83.56.

Ormat Technologies Stock Up 0.6 %

ORA stock traded up $0.40 during trading hours on Friday, hitting $73.12. The company's stock had a trading volume of 264,000 shares, compared to its average volume of 486,639. The stock has a 50 day moving average price of $70.28 and a two-hundred day moving average price of $72.05. Ormat Technologies, Inc. has a 12 month low of $61.58 and a 12 month high of $84.30. The company has a market capitalization of $4.43 billion, a PE ratio of 37.31, a price-to-earnings-growth ratio of 3.18 and a beta of 0.52. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Wednesday, March 12th. Ormat Technologies's payout ratio is 23.53%.

Insider Buying and Selling at Ormat Technologies

In other news, insider Jessica Woelfel sold 409 shares of the business's stock in a transaction 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 completion of the sale, the insider now directly owns 6,094 shares in the company, valued at approximately $439,682.10. The trade was a 6.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David Granot sold 1,666 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $69.00, for a total transaction of $114,954.00. Following the completion of the transaction, the director now owns 1,910 shares in the company, valued at $131,790. The trade was a 46.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,242 shares of company stock worth $156,427 over the last three months. Corporate insiders own 0.56% of the company's stock.

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.