Americafirst Capital Management LLC bought a new position in Ormat Technologies, Inc. (NYSE:ORA) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 22,103 shares of the energy company’s stock, valued at approximately $1,297,000. Ormat Technologies accounts for 1.6% of Americafirst Capital Management LLC’s portfolio, making the stock its 13th largest position.
Several other hedge funds have also recently added to or reduced their stakes in ORA. Royal Bank of Canada grew its holdings in shares of Ormat Technologies by 1.7% during the second quarter. Royal Bank of Canada now owns 2,008 shares of the energy company’s stock worth $117,000 after buying an additional 34 shares in the last quarter. Creative Planning grew its holdings in shares of Ormat Technologies by 12.0% during the second quarter. Creative Planning now owns 2,099 shares of the energy company’s stock worth $123,000 after buying an additional 225 shares in the last quarter. US Bancorp DE grew its holdings in shares of Ormat Technologies by 33.6% during the first quarter. US Bancorp DE now owns 2,169 shares of the energy company’s stock worth $124,000 after buying an additional 545 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Ormat Technologies by 2.2% during the second quarter. Sei Investments Co. now owns 2,266 shares of the energy company’s stock worth $133,000 after buying an additional 49 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Ormat Technologies by 16.6% during the first quarter. SG Americas Securities LLC now owns 2,285 shares of the energy company’s stock worth $130,000 after buying an additional 326 shares in the last quarter. Institutional investors own 46.41% of the company’s stock.
A number of equities research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Ormat Technologies from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a report on Thursday, October 5th. Cowen and Company set a $67.00 price target on shares of Ormat Technologies and gave the stock a “buy” rating in a report on Monday, July 17th. BidaskClub downgraded shares of Ormat Technologies from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $70.00 price target (up from $65.00) on shares of Ormat Technologies in a report on Wednesday, September 27th. Finally, TheStreet downgraded shares of Ormat Technologies from a “b” rating to a “c+” rating in a report on Monday, August 14th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Ormat Technologies has a consensus rating of “Buy” and an average target price of $66.38.
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In other Ormat Technologies news, VP Erez Klein sold 24,576 shares of the stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $59.03, for a total transaction of $1,450,721.28. Following the completion of the transaction, the vice president now directly owns 23,890 shares in the company, valued at $1,410,226.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Isaac Angel sold 150,000 shares of the stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $57.00, for a total value of $8,550,000.00. The disclosure for this sale can be found here. Insiders sold 11,118,038 shares of company stock valued at $633,938,695 over the last 90 days. 22.97% of the stock is currently owned by corporate insiders.
Ormat Technologies (NYSE:ORA) last posted its quarterly earnings data on Thursday, August 3rd. The energy company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.03. Ormat Technologies had a return on equity of 10.25% and a net margin of 15.36%. The company had revenue of $179.36 million during the quarter, compared to analysts’ expectations of $169.80 million. During the same period in the prior year, the business earned $0.49 earnings per share. Ormat Technologies’s revenue for the quarter was up 12.2% compared to the same quarter last year.
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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