Leonteq Securities AG Makes New Investment in Ormat Technologies, Inc. $ORA

Leonteq Securities AG acquired a new position in shares of Ormat Technologies, Inc. (NYSE:ORA) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,285 shares of the energy company’s stock, valued at approximately $1,468,000.

Other hedge funds have also recently bought and sold shares of the company. Wolff Wiese Magana LLC acquired a new stake in Ormat Technologies during the fourth quarter worth approximately $33,000. Jones Financial Companies Lllp lifted its position in Ormat Technologies by 43.8% during the third quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company’s stock worth $35,000 after acquiring an additional 113 shares during the last quarter. Ameriflex Group Inc. lifted its position in Ormat Technologies by 1,100.0% during the third quarter. Ameriflex Group Inc. now owns 360 shares of the energy company’s stock worth $35,000 after acquiring an additional 330 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Ormat Technologies by 251.0% during the second quarter. EverSource Wealth Advisors LLC now owns 523 shares of the energy company’s stock worth $44,000 after acquiring an additional 374 shares during the last quarter. Finally, USA Financial Formulas acquired a new stake in Ormat Technologies during the fourth quarter worth approximately $51,000. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, Director David Granot sold 1,766 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $134.43, for a total transaction of $237,403.38. Following the completion of the transaction, the director directly owned 1,766 shares in the company, valued at $237,403.38. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jessica Woelfel sold 2,359 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $105.16, for a total transaction of $248,072.44. Following the transaction, the insider owned 3,433 shares of the company’s stock, valued at approximately $361,014.28. This represents a 40.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 33,699 shares of company stock valued at $4,410,013. 0.56% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on ORA. Weiss Ratings reiterated a “hold (c)” rating on shares of Ormat Technologies in a research report on Tuesday, April 21st. Jefferies Financial Group downgraded shares of Ormat Technologies from a “buy” rating to a “hold” rating and lifted their price target for the company from $125.00 to $130.00 in a research report on Friday, February 13th. Robert W. Baird dropped their price target on shares of Ormat Technologies from $143.00 to $130.00 and set an “outperform” rating for the company in a research report on Friday, February 27th. JPMorgan Chase & Co. lifted their price target on shares of Ormat Technologies from $106.00 to $123.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Finally, UBS Group lifted their price target on shares of Ormat Technologies from $143.00 to $152.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $133.18.

Ormat Technologies Stock Up 1.5%

NYSE ORA opened at $133.73 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.87. Ormat Technologies, Inc. has a 1-year low of $70.42 and a 1-year high of $138.51. The company has a 50 day moving average of $115.48 and a 200-day moving average of $115.13. The company has a market cap of $8.22 billion, a price-to-earnings ratio of 64.92, a PEG ratio of 5.62 and a beta of 0.80.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.38. Ormat Technologies had a net margin of 10.97% and a return on equity of 6.61%. The company had revenue of $403.91 million during the quarter, compared to the consensus estimate of $349.17 million. During the same period in the previous year, the business earned $0.68 earnings per share. The firm’s quarterly revenue was up 75.8% on a year-over-year basis. On average, equities research analysts expect that Ormat Technologies, Inc. will post 2.35 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 20th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.4%. The ex-dividend date is Wednesday, May 20th. Ormat Technologies’s payout ratio is currently 23.30%.

About Ormat Technologies

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.