Dynamic Technology Lab Private Ltd Makes New $809,000 Investment in Ormat Technologies, Inc. (NYSE:ORA)

Dynamic Technology Lab Private Ltd bought a new stake in shares of Ormat Technologies, Inc. (NYSE:ORA) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 11,950 shares of the energy company’s stock, valued at approximately $809,000.

A number of other hedge funds have also recently made changes to their positions in ORA. ExodusPoint Capital Management LP raised its stake in Ormat Technologies by 120.8% during the fourth quarter. ExodusPoint Capital Management LP now owns 100,373 shares of the energy company’s stock valued at $6,797,000 after buying an additional 54,911 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Ormat Technologies during the fourth quarter valued at $66,000. Geode Capital Management LLC raised its position in shares of Ormat Technologies by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 1,373,426 shares of the energy company’s stock worth $93,029,000 after purchasing an additional 72,135 shares during the last quarter. Franklin Resources Inc. bought a new position in Ormat Technologies in the 4th quarter worth about $526,000. Finally, Meeder Asset Management Inc. grew its position in Ormat Technologies by 175.8% during the 4th quarter. Meeder Asset Management Inc. now owns 21,130 shares of the energy company’s stock valued at $1,431,000 after purchasing an additional 13,469 shares during the last quarter. 95.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Jefferies Financial Group lifted their target price on shares of Ormat Technologies from $78.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, March 25th. JPMorgan Chase & Co. upped their price objective on Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, February 28th. Robert W. Baird assumed coverage on Ormat Technologies in a report on Thursday, March 13th. They issued a “neutral” rating and a $81.00 target price for the company. Piper Sandler started coverage on Ormat Technologies in a report on Thursday, December 19th. They set a “neutral” rating and a $78.00 price target on the stock. Finally, Baird R W upgraded Ormat Technologies to a “hold” rating in a report on Thursday, March 13th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Ormat Technologies has a consensus rating of “Hold” and a consensus price target of $83.56.

Ormat Technologies Price Performance

NYSE ORA opened at $68.25 on Monday. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $4.14 billion, a P/E ratio of 34.82, a PEG ratio of 3.18 and a beta of 0.52. The company has a 50-day moving average price of $68.05 and a 200-day moving average price of $72.67. Ormat Technologies, Inc. has a 52 week low of $59.41 and a 52 week high of $84.30.

Ormat Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th were given a $0.12 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $0.48 annualized dividend and a yield of 0.70%. Ormat Technologies’s payout ratio is presently 23.53%.

Insider Transactions at Ormat Technologies

In other Ormat Technologies news, insider Jessica Woelfel sold 409 shares of Ormat Technologies stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total transaction of $29,509.35. Following the transaction, the insider now owns 6,094 shares of the company’s stock, valued at $439,682.10. The trade was a 6.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Granot sold 1,666 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $69.00, for a total transaction of $114,954.00. Following the completion of the sale, the director now directly owns 1,910 shares of the company’s stock, valued at approximately $131,790. This trade represents a 46.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,242 shares of company stock worth $156,427 in the last 90 days. 1.00% of the stock is currently owned by insiders.

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.