Mission Wealth Management LP Grows Stock Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Mission Wealth Management LP grew its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 12.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 3,983 shares of the energy company’s stock after acquiring an additional 453 shares during the period. Mission Wealth Management LP’s holdings in Ormat Technologies were worth $235,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Ayalon Holdings Ltd. purchased a new position in shares of Ormat Technologies during the third quarter valued at approximately $30,000. Macquarie Group Ltd. lifted its holdings in shares of Ormat Technologies by 162.0% during the second quarter. Macquarie Group Ltd. now owns 1,826 shares of the energy company’s stock valued at $116,000 after purchasing an additional 1,129 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Ormat Technologies by 64.4% during the second quarter. Advisors Asset Management Inc. now owns 2,213 shares of the energy company’s stock valued at $141,000 after purchasing an additional 867 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of Ormat Technologies by 8.0% during the second quarter. Great West Life Assurance Co. Can now owns 3,003 shares of the energy company’s stock valued at $190,000 after purchasing an additional 222 shares during the last quarter. Finally, Stevard LLC purchased a new position in Ormat Technologies in the 2nd quarter worth approximately $218,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

In other Ormat Technologies news, CFO Assi Ginzburg acquired 20,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was purchased at an average price of $61.03 per share, with a total value of $1,220,600.00. Following the transaction, the chief financial officer now directly owns 20,000 shares in the company, valued at approximately $1,220,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Zvi Krieger acquired 3,000 shares of the business’s stock in a transaction dated Tuesday, September 22nd. The shares were acquired at an average cost of $55.77 per share, with a total value of $167,310.00. In the last ninety days, insiders acquired 23,511 shares of company stock valued at $1,417,548. 0.80% of the stock is currently owned by insiders.

NYSE:ORA opened at $72.77 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.18 and a debt-to-equity ratio of 0.72. Ormat Technologies, Inc. has a 12 month low of $53.44 and a 12 month high of $87.07. The company has a market cap of $3.72 billion, a PE ratio of 48.51, a price-to-earnings-growth ratio of 3.08 and a beta of 0.54. The company has a 50 day simple moving average of $61.28 and a two-hundred day simple moving average of $63.29.

Ormat Technologies (NYSE:ORA) last posted its earnings results on Tuesday, August 4th. The energy company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.07. Ormat Technologies had a net margin of 10.59% and a return on equity of 5.06%. The business had revenue of $174.90 million during the quarter, compared to the consensus estimate of $168.63 million. During the same quarter in the previous year, the firm posted $0.40 EPS. The firm’s revenue was down 5.0% on a year-over-year basis. Research analysts forecast that Ormat Technologies, Inc. will post 1.73 earnings per share for the current year.

A number of equities analysts recently weighed in on the stock. Oppenheimer assumed coverage on shares of Ormat Technologies in a report on Tuesday, August 4th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. upgraded shares of Ormat Technologies from a “neutral” rating to an “overweight” rating and set a $82.00 price objective for the company in a report on Thursday, July 9th. TheStreet lowered shares of Ormat Technologies from a “b-” rating to a “c” rating in a report on Tuesday, August 4th. Finally, Zacks Investment Research upgraded shares of Ormat Technologies from a “strong sell” rating to a “hold” rating and set a $66.00 price objective for the company in a report on Tuesday, October 6th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $75.50.

About Ormat Technologies

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, New Zealand, Honduras, and internationally. The company operates through three segments: Electricity, Product, and Energy Storage and Management Services.

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Institutional Ownership by Quarter for Ormat Technologies (NYSE:ORA)

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