Y.D. More Investments Ltd Has $36.03 Million Position in Ormat Technologies, Inc. (NYSE:ORA)

Y.D. More Investments Ltd grew its position in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 13.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 524,416 shares of the energy company's stock after purchasing an additional 61,236 shares during the period. Ormat Technologies comprises about 3.2% of Y.D. More Investments Ltd's portfolio, making the stock its 7th largest position. Y.D. More Investments Ltd owned about 0.87% of Ormat Technologies worth $36,030,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. AQR Capital Management LLC boosted its position in Ormat Technologies by 45.3% in the second quarter. AQR Capital Management LLC now owns 5,809 shares of the energy company's stock worth $417,000 after purchasing an additional 1,811 shares during the last quarter. Algert Global LLC bought a new stake in shares of Ormat Technologies during the 2nd quarter worth $392,000. Creative Planning boosted its holdings in shares of Ormat Technologies by 8.9% in the 2nd quarter. Creative Planning now owns 12,168 shares of the energy company's stock worth $872,000 after buying an additional 996 shares during the last quarter. GAMMA Investing LLC grew its position in Ormat Technologies by 44.0% during the third quarter. GAMMA Investing LLC now owns 1,051 shares of the energy company's stock valued at $81,000 after buying an additional 321 shares during the period. Finally, UMB Bank n.a. increased its holdings in Ormat Technologies by 107.7% during the third quarter. UMB Bank n.a. now owns 617 shares of the energy company's stock worth $47,000 after buying an additional 320 shares during the last quarter. 95.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ORA shares. Oppenheimer raised their price target on shares of Ormat Technologies from $86.00 to $91.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Piper Sandler initiated coverage on Ormat Technologies in a report on Thursday, December 19th. They set a "neutral" rating and a $78.00 target price for the company. Roth Mkm reissued a "buy" rating and issued a $92.00 price target (up from $87.00) on shares of Ormat Technologies in a report on Friday, November 8th. Finally, Jefferies Financial Group started coverage on shares of Ormat Technologies in a research note on Friday, January 10th. They set a "hold" rating and a $73.00 price objective for the company. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $82.25.

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 value of $278,906,000.00. Following the sale, the insider now directly owns 2,976,077 shares of the company's stock, valued at $224,336,684.26. This represents a 55.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Granot sold 1,256 shares of Ormat Technologies stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $82.00, for a total transaction of $102,992.00. Following the transaction, the director now directly owns 3,576 shares of the company's stock, valued at approximately $293,232. This trade represents a 25.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.46% of the company's stock.

Ormat Technologies Trading Up 0.5 %

Shares of ORA stock opened at $62.79 on Wednesday. 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 business has a 50-day moving average of $70.21 and a 200 day moving average of $74.33. The stock has a market capitalization of $3.80 billion, a PE ratio of 32.03, a P/E/G ratio of 3.00 and a beta of 0.57. Ormat Technologies, Inc. has a 1-year low of $59.41 and a 1-year high of $84.30.

Ormat Technologies (NYSE:ORA - Get Free Report) last issued its earnings results on Wednesday, November 6th. The energy company reported $0.36 EPS 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 company had revenue of $211.80 million for the quarter, compared to the consensus estimate of $215.53 million. During the same period in the previous year, the firm earned $0.47 earnings per share. The firm's revenue for the quarter was up 1.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Ormat Technologies, Inc. will post 1.94 earnings per share for the current year.

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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