Rhumbline Advisers Has $12.90 Million Stock Position in Ormat Technologies, Inc. (NYSE:ORA)

Rhumbline Advisers cut its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 7.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 190,451 shares of the energy company’s stock after selling 15,440 shares during the quarter. Rhumbline Advisers owned 0.31% of Ormat Technologies worth $12,897,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Global Alpha Capital Management Ltd. grew 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 buying an additional 140,882 shares in the last quarter. Geode Capital Management LLC boosted its stake in Ormat Technologies by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,301,291 shares of the energy company’s stock worth $100,140,000 after purchasing an additional 22,714 shares during the period. Y.D. More Investments Ltd boosted its stake in Ormat Technologies by 13.2% in the 4th quarter. Y.D. More Investments Ltd now owns 524,416 shares of the energy company’s stock worth $36,030,000 after purchasing an additional 61,236 shares during the period. Van ECK Associates Corp boosted its position in shares of Ormat Technologies by 8.6% during the 4th quarter. Van ECK Associates Corp now owns 418,653 shares of the energy company’s stock valued at $28,352,000 after acquiring an additional 33,279 shares during the last quarter. Finally, Summit Partners Public Asset Management LLC boosted its position in shares of Ormat Technologies by 16.7% during the 3rd quarter. Summit Partners Public Asset Management LLC now owns 350,000 shares of the energy company’s stock valued at $26,929,000 after acquiring an additional 50,000 shares during the last quarter. 95.49% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Ormat Technologies news, Director David Granot sold 1,256 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $82.00, for a total transaction of $102,992.00. Following the completion of the sale, the director now directly owns 3,576 shares in the company, valued at approximately $293,232. The trade was a 25.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Corp Orix sold 3,700,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $75.38, for a total value of $278,906,000.00. Following the sale, the insider now owns 2,976,077 shares of the company’s stock, valued at approximately $224,336,684.26. This trade represents a 55.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Oppenheimer lifted their price target on 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 assumed coverage on Ormat Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $78.00 target price on the stock. Roth Mkm reaffirmed a “buy” rating and set 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 raised Ormat Technologies from a “hold” rating to a “buy” rating and upped their price target for the company from $73.00 to $78.00 in a report on Thursday. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $82.88.

Ormat Technologies Stock Down 0.8 %

Ormat Technologies stock opened at $68.74 on Friday. 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 stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of 35.07, a PEG ratio of 3.18 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. The business has a fifty day moving average price of $66.53 and a 200-day moving average price of $73.33.

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.