Ormat Technologies, Inc. $ORA Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC cut its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 77.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,551 shares of the energy company’s stock after selling 36,212 shares during the period. Hsbc Holdings PLC’s holdings in Ormat Technologies were worth $1,181,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Aster Capital Management DIFC Ltd acquired a new position in shares of Ormat Technologies in the fourth quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in Ormat Technologies during the 4th quarter worth approximately $31,000. Los Angeles Capital Management LLC acquired a new stake in Ormat Technologies during the 4th quarter worth approximately $32,000. Smartleaf Asset Management LLC boosted its position in Ormat Technologies by 245.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 297 shares of the energy company’s stock valued at $33,000 after buying an additional 211 shares during the period. Finally, HM Payson & Co. boosted its position in Ormat Technologies by 100.0% in the 4th quarter. HM Payson & Co. now owns 400 shares of the energy company’s stock valued at $44,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 95.49% of the company’s stock.

Ormat Technologies Price Performance

Shares of NYSE ORA opened at $98.48 on Wednesday. The stock’s 50-day simple moving average is $122.16 and its 200-day simple moving average is $118.48. The firm has a market capitalization of $6.05 billion, a PE ratio of 47.81, a price-to-earnings-growth ratio of 4.35 and a beta of 0.88. Ormat Technologies, Inc. has a fifty-two week low of $84.13 and a fifty-two week high of $146.39. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.02 and a current ratio of 1.07.

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

Ormat Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 20th were issued a $0.12 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. Ormat Technologies’s dividend payout ratio is presently 23.30%.

Insiders Place Their Bets

In related news, Director Michal Marom sold 3,080 shares of the stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $130.97, for a total value of $403,387.60. Following the transaction, the director directly owned 1,766 shares of the company’s stock, valued at $231,293.02. This trade represents a 63.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Assi Ginzburg sold 17,776 shares of Ormat Technologies stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $134.75, for a total transaction of $2,395,316.00. Following the sale, the chief financial officer owned 1,970 shares in the company, valued at $265,457.50. This represents a 90.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 30,585 shares of company stock worth $4,090,998. 0.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ORA shares. JPMorgan Chase & Co. upped their price objective on Ormat Technologies from $106.00 to $123.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Oppenheimer reiterated an “outperform” rating and issued a $144.00 target price on shares of Ormat Technologies in a report on Friday, May 8th. Wolfe Research assumed coverage on Ormat Technologies in a research note on Monday, June 8th. They set a “peer perform” rating for the company. Weiss Ratings restated a “hold (c)” rating on shares of Ormat Technologies in a report on Friday, July 17th. Finally, UBS Group increased their price target on 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, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Ormat Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $131.75.

Ormat Technologies Company 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.