National Asset Management Inc. Has $389,000 Holdings in Ormat Technologies, Inc. (ORA)
National Asset Management Inc. reduced its stake in Ormat Technologies, Inc. (NYSE:ORA) by 15.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,626 shares of the energy company’s stock after selling 1,235 shares during the quarter. National Asset Management Inc.’s holdings in Ormat Technologies were worth $389,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Royal Bank of Canada grew its stake in shares of Ormat Technologies by 1.7% in the 2nd quarter. Royal Bank of Canada now owns 2,008 shares of the energy company’s stock valued at $117,000 after purchasing an additional 34 shares during the last quarter. Creative Planning grew its stake in shares of Ormat Technologies by 12.0% in the 2nd quarter. Creative Planning now owns 2,099 shares of the energy company’s stock valued at $123,000 after purchasing an additional 225 shares during the last quarter. US Bancorp DE grew its stake in shares of Ormat Technologies by 33.6% in the 1st quarter. US Bancorp DE now owns 2,169 shares of the energy company’s stock valued at $124,000 after purchasing an additional 545 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Ormat Technologies by 16.6% in the 1st quarter. SG Americas Securities LLC now owns 2,285 shares of the energy company’s stock valued at $130,000 after purchasing an additional 326 shares during the last quarter. Finally, Sei Investments Co. grew its stake in shares of Ormat Technologies by 2.2% in the 2nd quarter. Sei Investments Co. now owns 2,266 shares of the energy company’s stock valued at $133,000 after purchasing an additional 49 shares during the last quarter. Institutional investors own 46.41% of the company’s stock.
Several research analysts have weighed in on the company. Zacks Investment Research upgraded Ormat Technologies from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research note on Thursday, October 5th. Cowen and Company set a $67.00 price target on Ormat Technologies and gave the company a “buy” rating in a report on Monday, July 17th. BidaskClub cut Ormat Technologies from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $70.00 price target (up from $65.00) on shares of Ormat Technologies in a report on Wednesday, September 27th. Finally, TheStreet cut Ormat Technologies from a “b” rating to a “c+” rating in a report on Monday, August 14th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $66.38.
Shares of Ormat Technologies, Inc. (ORA) traded up 0.98% during trading on Friday, reaching $62.65. The company had a trading volume of 140,155 shares. The stock’s 50-day moving average price is $58.97 and its 200-day moving average price is $58.40. The stock has a market capitalization of $3.13 billion, a PE ratio of 28.58 and a beta of 1.22. Ormat Technologies, Inc. has a 12 month low of $45.30 and a 12 month high of $63.56.
Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Thursday, August 3rd. The energy company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. The firm had revenue of $179.36 million during the quarter, compared to analyst estimates of $169.80 million. Ormat Technologies had a return on equity of 10.25% and a net margin of 15.36%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period last year, the company posted $0.49 EPS. Equities analysts forecast that Ormat Technologies, Inc. will post $2.29 earnings per share for the current fiscal year.
In other news, SVP Etty Rosner sold 9,983 shares of the stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $60.23, for a total transaction of $601,276.09. Following the completion of the sale, the senior vice president now owns 9,983 shares in the company, valued at approximately $601,276.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Isaac Angel sold 150,000 shares of the stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $57.00, for a total value of $8,550,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,118,038 shares of company stock valued at $633,938,695. 22.97% of the stock is currently owned by corporate insiders.
Ormat Technologies Profile
Ormat Technologies, Inc is engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy-based power plants. Its equipment manufacturing operations are located in Israel. It conducts its business activities in two business segments: Electricity segment and Product segment.
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