Morgan Stanley Sells 18,928 Shares of Ormat Technologies, Inc. (ORA)

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Morgan Stanley trimmed its position in Ormat Technologies, Inc. (NYSE:ORA) by 14.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 114,878 shares of the energy company’s stock after selling 18,928 shares during the period. Morgan Stanley owned 0.23% of Ormat Technologies worth $6,217,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Atlantic Trust LLC purchased a new stake in Ormat Technologies in the third quarter worth $108,000. Highland Capital Management LP purchased a new stake in Ormat Technologies in the third quarter worth $216,000. AQR Capital Management LLC purchased a new stake in Ormat Technologies in the third quarter worth $278,000. Yorktown Management & Research Co Inc grew its stake in shares of Ormat Technologies by 23.9% in the third quarter. Yorktown Management & Research Co Inc now owns 5,700 shares of the energy company’s stock worth $308,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Man Group plc purchased a new stake in shares of Ormat Technologies in the third quarter worth $313,000. 75.56% of the stock is currently owned by institutional investors.

In related news, Director David Granot sold 759 shares of the stock in a transaction on Monday, November 26th. The stock was sold at an average price of $54.00, for a total transaction of $40,986.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.50% of the company’s stock.

NYSE ORA opened at $57.55 on Wednesday. Ormat Technologies, Inc. has a 12 month low of $45.79 and a 12 month high of $65.49. The firm has a market capitalization of $2.89 billion, a PE ratio of 19.25, a P/E/G ratio of 2.33 and a beta of 1.34. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.97 and a current ratio of 1.06.

A number of equities research analysts have recently commented on the company. Zacks Investment Research cut Ormat Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, January 3rd. ValuEngine raised Ormat Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $64.80.

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About Ormat Technologies

Ormat Technologies, Inc engages in the geothermal and recovered energy power business worldwide. The company operates through Electricity and Product segments. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity. This segment also offers energy storage, demand response, and energy management related services.

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Institutional Ownership by Quarter for Ormat Technologies (NYSE:ORA)

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