Ormat Technologies, Inc. $ORA Holdings Lowered by Lombard Odier Asset Management USA Corp

Lombard Odier Asset Management USA Corp trimmed its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 57.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,996 shares of the energy company’s stock after selling 15,014 shares during the quarter. Lombard Odier Asset Management USA Corp’s holdings in Ormat Technologies were worth $1,215,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ORA. Aster Capital Management DIFC Ltd bought a new stake in shares of Ormat Technologies during the 4th quarter worth about $26,000. Los Angeles Capital Management LLC bought a new stake in shares of Ormat Technologies during the 4th quarter worth about $32,000. Wolff Wiese Magana LLC bought a new stake in shares of Ormat Technologies during the 4th quarter worth about $33,000. Smartleaf Asset Management LLC raised its position in shares of Ormat Technologies by 245.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 297 shares of the energy company’s stock worth $33,000 after buying an additional 211 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its position in shares of Ormat Technologies by 43.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company’s stock worth $35,000 after buying an additional 113 shares in the last quarter. 95.49% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director David Granot sold 1,766 shares of Ormat Technologies stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $134.43, for a total value of $237,403.38. Following the transaction, the director directly owned 1,766 shares of the company’s stock, valued at $237,403.38. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michal Marom sold 3,080 shares of Ormat Technologies stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $130.97, for a total transaction of $403,387.60. Following the completion of the transaction, the director directly owned 1,766 shares in the company, valued at approximately $231,293.02. This trade represents a 63.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 30,721 shares of company stock valued at $4,105,657 over the last 90 days. 0.56% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Wolfe Research assumed coverage on shares of Ormat Technologies in a research report on Monday, June 8th. They set a “peer perform” rating on the stock. Robert W. Baird dropped their price target on shares of Ormat Technologies from $143.00 to $130.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Piper Sandler boosted their target price on shares of Ormat Technologies from $125.00 to $142.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. TD Cowen dropped their target price on shares of Ormat Technologies from $131.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Ormat Technologies from $106.00 to $123.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Eight analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $133.18.

Ormat Technologies Stock Performance

Ormat Technologies stock opened at $133.70 on Wednesday. The firm’s 50 day simple moving average is $125.55 and its 200-day simple moving average is $118.63. The company has a market cap of $8.22 billion, a P/E ratio of 64.90, a price-to-earnings-growth ratio of 5.91 and a beta of 0.85. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.07 and a quick ratio of 1.02. Ormat Technologies, Inc. has a fifty-two week low of $79.20 and a fifty-two week high of $146.39.

Ormat Technologies (NYSE:ORA) last released its earnings results on Wednesday, May 6th. The energy company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.38. The business had revenue of $403.91 million for the quarter, compared to the consensus estimate of $349.17 million. Ormat Technologies had a net margin of 10.97% and a return on equity of 6.61%. The firm’s quarterly revenue was up 75.8% compared to the same quarter last year. During the same period last year, the firm posted $0.68 earnings per share. As a group, equities research analysts predict that Ormat Technologies, Inc. will post 2.35 EPS for the current year.

Ormat Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 20th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Wednesday, May 20th. Ormat Technologies’s dividend payout ratio (DPR) is 23.30%.

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.