Alps Advisors Inc. increased its position in shares of Ormat Technologies, Inc. (NYSE:ORA) by 16.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 60,262 shares of the energy company’s stock after buying an additional 8,372 shares during the quarter. Alps Advisors Inc.’s holdings in Ormat Technologies were worth $4,477,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in shares of Ormat Technologies by 3.0% during the second quarter. BlackRock Inc. now owns 3,385,203 shares of the energy company’s stock worth $214,589,000 after buying an additional 99,904 shares in the last quarter. Global Alpha Capital Management Ltd. grew its holdings in shares of Ormat Technologies by 3.4% during the second quarter. Global Alpha Capital Management Ltd. now owns 1,222,479 shares of the energy company’s stock worth $77,976,000 after buying an additional 40,367 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Ormat Technologies by 2.0% during the second quarter. Northern Trust Corp now owns 574,670 shares of the energy company’s stock worth $36,428,000 after buying an additional 11,271 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Ormat Technologies by 21.7% during the second quarter. Van ECK Associates Corp now owns 427,426 shares of the energy company’s stock worth $27,095,000 after buying an additional 76,097 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Ormat Technologies by 1.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 337,735 shares of the energy company’s stock worth $21,410,000 after buying an additional 5,625 shares in the last quarter. Institutional investors and hedge funds own 74.76% of the company’s stock.

In other news, EVP Bob Sullivan sold 13,212 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $72.48, for a total value of $957,605.76. Following the completion of the sale, the executive vice president now directly owns 18,478 shares of the company’s stock, valued at $1,339,285.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ravit Barniv sold 5,786 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $73.00, for a total value of $422,378.00. Following the completion of the sale, the director now directly owns 6,545 shares of the company’s stock, valued at $477,785. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,712 shares of company stock valued at $2,582,976. Corporate insiders own 0.63% of the company’s stock.

A number of research analysts have weighed in on ORA shares. ValuEngine downgraded Ormat Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Cowen downgraded Ormat Technologies from an “outperform” rating to a “market perform” rating and set a $76.00 price target for the company. in a research note on Thursday, October 24th. Zacks Investment Research upgraded Ormat Technologies from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a research note on Monday, October 21st. Roth Capital raised their price target on Ormat Technologies from $67.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, UBS Group raised their price target on Ormat Technologies from $59.00 to $73.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $73.40.

ORA stock opened at $76.25 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.49 and a debt-to-equity ratio of 0.77. The business has a 50 day moving average price of $75.01 and a two-hundred day moving average price of $67.27. The company has a market cap of $3.90 billion, a price-to-earnings ratio of 36.66, a P/E/G ratio of 3.91 and a beta of 1.03. Ormat Technologies, Inc. has a twelve month low of $49.70 and a twelve month high of $79.18.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings results on Wednesday, November 6th. The energy company reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.03). The company had revenue of $170.50 million during the quarter, compared to the consensus estimate of $171.11 million. Ormat Technologies had a net margin of 11.98% and a return on equity of 6.07%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.31 earnings per share. On average, equities research analysts anticipate that Ormat Technologies, Inc. will post 1.77 EPS for the current fiscal year.

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, New Zealand, and internationally. The company operates through three segments: Electricity, Product, and Other. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity.

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Institutional Ownership by Quarter for Ormat Technologies (NYSE:ORA)

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