Ormat Technologies, Inc. (NYSE:ORA) Shares Purchased by RWC Asset Management LLP

RWC Asset Management LLP grew its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 348.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 165,599 shares of the energy company’s stock after acquiring an additional 128,705 shares during the period. RWC Asset Management LLP owned about 0.27% of Ormat Technologies worth $11,214,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ORA. Chesapeake Capital Corp IL acquired a new position in Ormat Technologies in the third quarter worth about $522,000. Holocene Advisors LP lifted its holdings in Ormat Technologies by 28.7% during the 3rd quarter. Holocene Advisors LP now owns 48,121 shares of the energy company’s stock worth $3,702,000 after buying an additional 10,718 shares during the last quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management grew its position in shares of Ormat Technologies by 57.3% in the 4th quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management now owns 223,937 shares of the energy company’s stock worth $15,165,000 after acquiring an additional 81,547 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Ormat Technologies by 8.6% in the 4th quarter. Van ECK Associates Corp now owns 418,653 shares of the energy company’s stock valued at $28,352,000 after acquiring an additional 33,279 shares during the last quarter. Finally, Y.D. More Investments Ltd raised its position in shares of Ormat Technologies by 13.2% during the 4th quarter. Y.D. More Investments Ltd now owns 524,416 shares of the energy company’s stock valued at $36,030,000 after acquiring an additional 61,236 shares in the last quarter. Institutional investors own 95.49% of the company’s stock.

Insider Activity

In other news, major shareholder Corp Orix sold 3,700,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $75.38, for a total value of $278,906,000.00. Following the completion of the transaction, the insider now directly owns 2,976,077 shares in the company, valued at $224,336,684.26. This trade represents a 55.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David Granot sold 1,256 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $82.00, for a total value of $102,992.00. Following the sale, the director now directly owns 3,576 shares in the company, valued at approximately $293,232. The trade was a 25.99 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Ormat Technologies Stock Down 0.8 %

ORA opened at $68.74 on Monday. The stock’s 50 day moving average price is $66.53 and its 200 day moving average price is $73.33. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87. The stock has a market cap of $4.16 billion, a P/E ratio of 35.07, a P/E/G ratio of 3.18 and a beta of 0.57. Ormat Technologies, Inc. has a 12 month low of $59.41 and a 12 month high of $84.30.

Analyst Ratings Changes

Several analysts have weighed in on ORA shares. Piper Sandler began coverage on shares of Ormat Technologies in a research note on Thursday, December 19th. They set a “neutral” rating and a $78.00 target price for the company. Oppenheimer increased their price objective on shares of Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Jefferies Financial Group upgraded Ormat Technologies from a “hold” rating to a “buy” rating and lifted their target price for the company from $73.00 to $78.00 in a research note on Thursday. Finally, Roth Mkm reiterated a “buy” rating and set a $92.00 price target (up from $87.00) on shares of Ormat Technologies in a research report on Friday, November 8th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $82.88.

About Ormat Technologies

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, Guadeloupe, New Zealand, Honduras, and internationally. It operates in three segments: Electricity, Product, and Energy Storage. The Electricity segment develops, builds, owns, and operates geothermal, solar photovoltaic, and recovered energy-based power plants; and sells electricity.