Hsbc Holdings PLC Buys 38,399 Shares of Ormat Technologies, Inc. $ORA

Hsbc Holdings PLC raised its stake in Ormat Technologies, Inc. (NYSE:ORA) by 459.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,763 shares of the energy company’s stock after purchasing an additional 38,399 shares during the quarter. Hsbc Holdings PLC’s holdings in Ormat Technologies were worth $5,171,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Aster Capital Management DIFC Ltd purchased a new position in shares of Ormat Technologies during the fourth quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in Ormat Technologies in the 4th quarter valued at $31,000. Los Angeles Capital Management LLC bought a new position in Ormat Technologies during the 4th quarter valued at $32,000. Wolff Wiese Magana LLC bought a new position in Ormat Technologies during the 4th quarter valued at $33,000. Finally, Smartleaf Asset Management LLC boosted its holdings in Ormat Technologies by 245.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 297 shares of the energy company’s stock worth $33,000 after acquiring an additional 211 shares during the last quarter. Institutional investors own 95.49% of the company’s stock.

Insider Activity

In other news, CFO Assi Ginzburg sold 17,776 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $134.75, for a total transaction of $2,395,316.00. Following the completion of the sale, the chief financial officer owned 1,970 shares in the company, valued at $265,457.50. This trade represents a 90.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michal Marom sold 3,080 shares of Ormat Technologies stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $130.97, for a total transaction of $403,387.60. Following the completion of the sale, the director directly owned 1,766 shares in the company, valued at $231,293.02. This trade represents a 63.56% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 30,585 shares of company stock worth $4,090,998. 0.56% of the stock is owned by insiders.

Ormat Technologies Trading Down 3.1%

NYSE ORA opened at $116.35 on Friday. The business’s fifty day moving average is $127.33 and its 200-day moving average is $119.28. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.07 and a quick ratio of 1.02. The stock has a market capitalization of $7.15 billion, a price-to-earnings ratio of 56.48, a PEG ratio of 4.95 and a beta of 0.85. Ormat Technologies, Inc. has a one year low of $82.33 and a one year high of $146.39.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.38. Ormat Technologies had a net margin of 10.97% and a return on equity of 6.61%. The company had revenue of $403.91 million during the quarter, compared to analyst estimates of $349.17 million. During the same quarter in the prior year, the business earned $0.68 earnings per share. The firm’s revenue for the quarter was up 75.8% on a year-over-year basis. Equities research analysts predict that Ormat Technologies, Inc. will post 2.35 EPS for the current 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 given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Wednesday, May 20th. Ormat Technologies’s dividend payout ratio is currently 23.30%.

Analyst Ratings Changes

Several research firms have recently issued reports on ORA. Royal Bank Of Canada assumed coverage on shares of Ormat Technologies in a research note on Tuesday, March 3rd. They issued an “outperform” rating and a $130.00 target price for the company. JPMorgan Chase & Co. boosted their price target on shares of Ormat Technologies from $106.00 to $123.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. UBS Group upped their price objective on shares of Ormat Technologies from $143.00 to $152.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Piper Sandler increased their price objective on shares of Ormat Technologies from $125.00 to $142.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Finally, Roth Mkm reissued a “buy” rating and set a $135.00 target price on shares of Ormat Technologies in a research report on Monday, May 11th. Eight 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.67.

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.