Tidal Investments LLC Has $3.51 Million Stock Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Tidal Investments LLC raised its stake in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 36.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,642 shares of the energy company's stock after acquiring an additional 12,272 shares during the period. Tidal Investments LLC owned 0.08% of Ormat Technologies worth $3,512,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Y.D. More Investments Ltd raised its holdings in shares of Ormat Technologies by 1,011.5% during the second quarter. Y.D. More Investments Ltd now owns 493,619 shares of the energy company's stock valued at $34,943,000 after buying an additional 449,209 shares during the last quarter. Erste Asset Management GmbH bought a new stake in Ormat Technologies during the third quarter worth approximately $19,096,000. Global Alpha Capital Management Ltd. raised its holdings in Ormat Technologies by 6.1% during the third quarter. Global Alpha Capital Management Ltd. now owns 2,446,624 shares of the energy company's stock worth $188,125,000 after purchasing an additional 140,882 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Ormat Technologies by 6.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,450,797 shares of the energy company's stock worth $104,030,000 after purchasing an additional 86,291 shares in the last quarter. Finally, Summit Partners Public Asset Management LLC raised its holdings in Ormat Technologies by 16.7% during the third quarter. Summit Partners Public Asset Management LLC now owns 350,000 shares of the energy company's stock worth $26,929,000 after purchasing an additional 50,000 shares in the last quarter. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Ormat Technologies Price Performance

Shares of NYSE ORA traded down $1.70 during trading on Friday, hitting $72.50. The company had a trading volume of 1,595,206 shares, compared to its average volume of 449,838. The company has a market cap of $4.38 billion, a P/E ratio of 36.99, a PEG ratio of 4.15 and a beta of 0.53. Ormat Technologies, Inc. has a 52 week low of $59.41 and a 52 week high of $84.30. The business's 50-day moving average is $79.25 and its 200 day moving average is $75.92. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95.

Ormat Technologies (NYSE:ORA - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The energy company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.05. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The firm had revenue of $211.80 million for the quarter, compared to analysts' expectations of $215.53 million. During the same period in the previous year, the company posted $0.47 EPS. The company's quarterly revenue was up 1.8% compared to the same quarter last year. Equities research analysts predict that Ormat Technologies, Inc. will post 1.93 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend was Wednesday, November 20th. Ormat Technologies's dividend payout ratio is currently 24.49%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ORA shares. Roth Mkm reissued a "buy" rating and set a $92.00 target price (up previously from $87.00) on shares of Ormat Technologies in a report on Friday, November 8th. Oppenheimer upped their price target on Ormat Technologies from $86.00 to $91.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Ormat Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $84.50.

Insider Activity

In other news, major shareholder Corp Orix sold 3,700,000 shares of the company's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $75.38, for a total transaction of $278,906,000.00. Following the completion of the transaction, the insider now owns 2,976,077 shares of the company's stock, valued at approximately $224,336,684.26. This represents a 55.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Byron G. Wong sold 1,266 shares of the company's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $74.98, for a total transaction of $94,924.68. Following the completion of the sale, the director now directly owns 6,906 shares in the company, valued at approximately $517,811.88. The trade was a 15.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,702,522 shares of company stock worth $279,103,917 in the last ninety days. Corporate insiders own 1.00% of the company's stock.

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.