Ormat Technologies, Inc. $ORA Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. raised its position in Ormat Technologies, Inc. (NYSE:ORA) by 0.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 6,032,782 shares of the energy company’s stock after purchasing an additional 4,708 shares during the period. Vanguard Group Inc. owned about 9.93% of Ormat Technologies worth $580,654,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Jones Financial Companies Lllp grew its stake in Ormat Technologies by 43.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company’s stock valued at $35,000 after acquiring an additional 113 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Ormat Technologies by 251.0% in the second quarter. EverSource Wealth Advisors LLC now owns 523 shares of the energy company’s stock valued at $44,000 after purchasing an additional 374 shares during the last quarter. AlphaQuest LLC increased its stake in shares of Ormat Technologies by 218.0% during the 3rd quarter. AlphaQuest LLC now owns 547 shares of the energy company’s stock worth $53,000 after purchasing an additional 375 shares in the last quarter. Hantz Financial Services Inc. raised its position in shares of Ormat Technologies by 313.2% during the 3rd quarter. Hantz Financial Services Inc. now owns 595 shares of the energy company’s stock worth $57,000 after purchasing an additional 451 shares during the last quarter. Finally, CWM LLC lifted its stake in Ormat Technologies by 17.1% in the 3rd quarter. CWM LLC now owns 1,098 shares of the energy company’s stock valued at $106,000 after buying an additional 160 shares in the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

Ormat Technologies Stock Performance

Ormat Technologies stock opened at $115.69 on Wednesday. The company has a market cap of $7.03 billion, a price-to-earnings ratio of 53.07, a price-to-earnings-growth ratio of 4.66 and a beta of 0.77. Ormat Technologies, Inc. has a 12 month low of $64.39 and a 12 month high of $132.58. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.77 and a quick ratio of 0.70. The stock’s 50-day moving average is $118.52 and its 200-day moving average is $107.92.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ORA shares. Weiss Ratings reissued a “hold (c)” rating on shares of Ormat Technologies in a report on Thursday, January 22nd. Robert W. Baird set a $143.00 target price on shares of Ormat Technologies in a report on Wednesday, January 14th. Piper Sandler raised their price target on shares of Ormat Technologies from $102.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Barclays cut their price objective on shares of Ormat Technologies from $118.00 to $108.00 and set an “overweight” rating for the company in a research report on Thursday, January 15th. Finally, Roth Mkm set a $139.00 target price on shares of Ormat Technologies in a research note on Wednesday, January 28th. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $129.80.

About Ormat Technologies

Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company’s core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.

Ormat’s offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.