AXQ Capital LP Makes New $312,000 Investment in Ormat Technologies, Inc. (NYSE:ORA)

AXQ Capital LP acquired a new position in shares of Ormat Technologies, Inc. (NYSE:ORA) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 4,607 shares of the energy company’s stock, valued at approximately $312,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. lifted its position in Ormat Technologies by 2.0% during the 4th quarter. Pacer Advisors Inc. now owns 8,026 shares of the energy company’s stock worth $544,000 after acquiring an additional 160 shares during the period. Bailard Inc. lifted its holdings in shares of Ormat Technologies by 0.9% in the 4th quarter. Bailard Inc. now owns 19,446 shares of the energy company’s stock valued at $1,317,000 after buying an additional 169 shares during the period. Securian Asset Management Inc. lifted its holdings in shares of Ormat Technologies by 5.1% in the 4th quarter. Securian Asset Management Inc. now owns 4,354 shares of the energy company’s stock valued at $295,000 after buying an additional 212 shares during the period. Versant Capital Management Inc raised its holdings in Ormat Technologies by 132.4% during the fourth quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock worth $27,000 after purchasing an additional 229 shares during the last quarter. Finally, Caprock Group LLC raised its holdings in Ormat Technologies by 4.0% during the fourth quarter. Caprock Group LLC now owns 6,080 shares of the energy company’s stock worth $412,000 after purchasing an additional 235 shares during the last quarter. 95.49% of the stock is owned by institutional investors and hedge funds.

Ormat Technologies Price Performance

Shares of Ormat Technologies stock opened at $71.67 on Monday. The business’s fifty day moving average price is $67.23 and its 200 day moving average price is $72.93. The stock has a market capitalization of $4.34 billion, a P/E ratio of 36.57, a PEG ratio of 3.18 and a beta of 0.51. Ormat Technologies, Inc. has a twelve month low of $59.41 and a twelve month high of $84.30. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73.

Ormat Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Wednesday, March 12th. Ormat Technologies’s dividend payout ratio is presently 23.53%.

Insiders Place Their Bets

In other Ormat Technologies news, Director David Granot sold 1,666 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $69.00, for a total transaction of $114,954.00. Following the transaction, the director now owns 1,910 shares in the company, valued at $131,790. The trade was a 46.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jessica Woelfel sold 409 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $72.15, for a total value of $29,509.35. Following the transaction, the insider now owns 6,094 shares in the company, valued at approximately $439,682.10. This represents a 6.29 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

ORA has been the subject of several research reports. JPMorgan Chase & Co. lifted their price objective on Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, February 28th. Jefferies Financial Group raised Ormat Technologies from a “hold” rating to a “buy” rating and raised their price target for the stock from $73.00 to $78.00 in a research report on Thursday, February 20th. Piper Sandler started coverage on Ormat Technologies in a research report on Thursday, December 19th. They set a “neutral” rating and a $78.00 price target for the company. Baird R W raised Ormat Technologies to a “hold” rating in a research report on Thursday, March 13th. Finally, Robert W. Baird started coverage on Ormat Technologies in a research report on Thursday, March 13th. They issued a “neutral” rating and a $81.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $82.67.

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.