Goldman Sachs Group Inc. reduced its position in shares of Ormat Technologies, Inc. (NYSE:ORA) by 2.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 153,305 shares of the energy company’s stock after selling 3,683 shares during the period. Goldman Sachs Group Inc. owned 0.31% of Ormat Technologies worth $8,750,000 as of its most recent filing with the SEC.
Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Ormat Technologies by 5.8% in the first quarter. Vanguard Group Inc. now owns 3,223,631 shares of the energy company’s stock worth $184,006,000 after buying an additional 177,288 shares in the last quarter. BlackRock Inc. increased its stake in shares of Ormat Technologies by 6,068.3% in the first quarter. BlackRock Inc. now owns 2,473,872 shares of the energy company’s stock worth $141,210,000 after buying an additional 2,433,766 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Ormat Technologies by 5.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,430,513 shares of the energy company’s stock worth $81,654,000 after buying an additional 70,927 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Ormat Technologies by 24.3% in the first quarter. Renaissance Technologies LLC now owns 921,157 shares of the energy company’s stock worth $52,580,000 after buying an additional 179,900 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Ormat Technologies by 4.9% in the first quarter. State Street Corp now owns 724,132 shares of the energy company’s stock worth $41,332,000 after buying an additional 34,005 shares in the last quarter. Institutional investors and hedge funds own 45.81% of the company’s stock.
Shares of Ormat Technologies, Inc. (NYSE ORA) opened at 58.47 on Friday. The company has a market capitalization of $2.91 billion, a PE ratio of 29.50 and a beta of 1.19. The company’s 50-day moving average price is $59.03 and its 200-day moving average price is $57.11. Ormat Technologies, Inc. has a 1-year low of $44.66 and a 1-year high of $61.49.
Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Monday, May 8th. The energy company reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.05. Ormat Technologies had a return on equity of 10.05% and a net margin of 14.26%. The firm had revenue of $189.90 million for the quarter, compared to analyst estimates of $177.42 million. During the same period in the previous year, the firm earned $0.59 earnings per share. The company’s revenue was up 25.3% compared to the same quarter last year. On average, equities analysts expect that Ormat Technologies, Inc. will post $2.30 earnings per share for the current fiscal year.
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A number of analysts recently weighed in on ORA shares. Cowen and Company set a $67.00 price target on shares of Ormat Technologies and gave the company a “buy” rating in a research report on Wednesday, May 10th. BidaskClub downgraded shares of Ormat Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Zacks Investment Research downgraded shares of Ormat Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 13th. J P Morgan Chase & Co upgraded shares of Ormat Technologies from a “neutral” rating to an “overweight” rating and increased their price target for the company from $65.00 to $71.00 in a research report on Wednesday, June 7th. Finally, Barclays PLC upgraded shares of Ormat Technologies from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $54.00 to $59.00 in a research report on Friday, May 26th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $65.25.
In other Ormat Technologies news, Director Robert Eugene Joyal sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $57.00, for a total value of $427,500.00. Following the transaction, the director now directly owns 7,500 shares of the company’s stock, valued at $427,500. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert F. Clarke sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $56.97, for a total value of $854,550.00. Following the completion of the transaction, the director now directly owns 7,500 shares in the company, valued at $427,275. The disclosure for this sale can be found here. Over the last three months, insiders sold 56,854 shares of company stock worth $3,300,521. Insiders own 22.97% of the company’s stock.
Ormat Technologies Company Profile
Ormat Technologies, Inc is engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy-based power plants. Its equipment manufacturing operations are located in Israel. It conducts its business activities in two business segments: Electricity segment and Product segment.
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