L & S Advisors Inc Acquires Shares of 9,773 Ormat Technologies, Inc. $ORA

L & S Advisors Inc acquired a new stake in shares of Ormat Technologies, Inc. (NYSE:ORA) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,773 shares of the energy company’s stock, valued at approximately $941,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ORA. Norges Bank bought a new stake in Ormat Technologies in the 2nd quarter worth $56,458,000. Groupama Asset Managment bought a new stake in shares of Ormat Technologies in the second quarter worth about $41,880,000. Canada Pension Plan Investment Board increased its holdings in Ormat Technologies by 62.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,073,639 shares of the energy company’s stock valued at $89,928,000 after purchasing an additional 413,384 shares during the period. Balyasny Asset Management L.P. bought a new position in Ormat Technologies during the 2nd quarter valued at approximately $18,310,000. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new position in Ormat Technologies during the 3rd quarter valued at approximately $14,005,000. 95.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ORA has been the topic of a number of recent analyst reports. Barclays cut their price objective on Ormat Technologies from $118.00 to $108.00 and set an “overweight” rating on the stock in a research report on Thursday, January 15th. TD Cowen upgraded shares of Ormat Technologies from a “hold” rating to a “buy” rating in a report on Friday, January 9th. Weiss Ratings restated a “hold (c)” rating on shares of Ormat Technologies in a report on Thursday, January 22nd. JPMorgan Chase & Co. raised their target price on shares of Ormat Technologies from $99.00 to $111.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Finally, Piper Sandler boosted their price target on shares of Ormat Technologies from $102.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $129.80.

Ormat Technologies Trading Down 0.8%

NYSE:ORA opened at $120.07 on Friday. The firm has a market capitalization of $7.30 billion, a P/E ratio of 55.08, a PEG ratio of 4.90 and a beta of 0.77. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.77 and a quick ratio of 0.70. Ormat Technologies, Inc. has a one year low of $64.39 and a one year high of $132.58. The company’s 50-day simple moving average is $118.35 and its 200 day simple moving average is $107.02.

Ormat Technologies Profile

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.