ExodusPoint Capital Management LP Buys 54,911 Shares of Ormat Technologies, Inc. (NYSE:ORA)

ExodusPoint Capital Management LP increased its position in Ormat Technologies, Inc. (NYSE:ORA) by 120.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,373 shares of the energy company’s stock after acquiring an additional 54,911 shares during the quarter. ExodusPoint Capital Management LP owned about 0.17% of Ormat Technologies worth $6,797,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its stake in shares of Ormat Technologies by 132.4% in the fourth quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock worth $27,000 after purchasing an additional 229 shares in the last quarter. AlphaQuest LLC boosted its holdings in Ormat Technologies by 4,691.7% in the 4th quarter. AlphaQuest LLC now owns 575 shares of the energy company’s stock worth $39,000 after buying an additional 563 shares during the period. Headlands Technologies LLC purchased a new stake in Ormat Technologies in the 4th quarter worth $66,000. Mendota Financial Group LLC bought a new stake in Ormat Technologies during the fourth quarter valued at about $98,000. Finally, Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of Ormat Technologies in the fourth quarter valued at about $182,000. Institutional investors own 95.49% of the company’s stock.

Ormat Technologies Stock Performance

Ormat Technologies stock opened at $68.25 on Friday. The company’s 50-day moving average price is $68.05 and its 200-day moving average price is $72.69. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73. The company has a market cap of $4.14 billion, a PE ratio of 34.82, a price-to-earnings-growth ratio of 3.18 and a beta of 0.52. Ormat Technologies, Inc. has a twelve month low of $59.41 and a twelve month high of $84.30.

Ormat Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.48 annualized dividend and a yield of 0.70%. Ormat Technologies’s payout ratio is currently 23.53%.

Insider Buying and Selling at Ormat Technologies

In related news, insider Jessica Woelfel sold 409 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $72.15, for a total transaction of $29,509.35. Following the sale, the insider now owns 6,094 shares in the company, valued at approximately $439,682.10. This represents a 6.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director David Granot sold 1,666 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $69.00, for a total value of $114,954.00. Following the completion of the sale, the director now owns 1,910 shares of the company’s stock, valued at approximately $131,790. This represents a 46.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,242 shares of company stock worth $156,427 over the last ninety days. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Baird R W raised Ormat Technologies to a “hold” rating in a research note on Thursday, March 13th. Jefferies Financial Group increased their price objective on shares of Ormat Technologies from $78.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, March 25th. Piper Sandler initiated coverage on shares of Ormat Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $78.00 target price on the stock. JPMorgan Chase & Co. raised their target price on shares of Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, February 28th. Finally, Robert W. Baird began coverage on shares of Ormat Technologies in a report on Thursday, March 13th. They issued a “neutral” rating and a $81.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Ormat Technologies currently has a consensus rating of “Hold” and a consensus target price of $83.56.

Ormat Technologies Company Profile

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.