Today: The 257,805 Shares of Ormat Technologies Inc. (ORA) are sold by JPMorgan Chase & Co.

The 257,805 Shares of Ormat Technologies Inc. (ORA) are sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its position in Ormat Technologies Inc. (NYSE:ORA) by 68.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 119,059 shares of the company’s stock after selling 257,805 shares during the period. JPMorgan Chase & Co. owned approximately 0.24% of Ormat Technologies worth $5,210,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. BlackRock Institutional Trust Company N.A. boosted its stake in Ormat Technologies by 13.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,004,355 shares of the company’s stock valued at $41,420,000 after buying an additional 116,906 shares during the last quarter. State Street Corp boosted its stake in Ormat Technologies by 3.5% in the first quarter. State Street Corp now owns 633,028 shares of the company’s stock valued at $26,110,000 after buying an additional 21,294 shares during the last quarter. American Century Companies Inc. boosted its stake in Ormat Technologies by 117.9% in the second quarter. American Century Companies Inc. now owns 518,851 shares of the company’s stock valued at $22,705,000 after buying an additional 280,743 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Ormat Technologies by 64.2% in the first quarter. Renaissance Technologies LLC now owns 437,757 shares of the company’s stock valued at $18,053,000 after buying an additional 171,157 shares during the last quarter. Finally, Sphera Funds Management LTD. boosted its stake in Ormat Technologies by 18.3% in the first quarter. Sphera Funds Management LTD. now owns 322,193 shares of the company’s stock valued at $13,267,000 after buying an additional 49,731 shares during the last quarter. 41.27% of the stock is currently owned by institutional investors and hedge funds.

Ormat Technologies Inc. (NYSE:ORA) traded up 0.36% during trading on Thursday, reaching $47.28. The company had a trading volume of 30,538 shares. The firm’s 50 day moving average is $48.55 and its 200 day moving average is $45.01. Ormat Technologies Inc. has a one year low of $32.25 and a one year high of $51.19. The company has a market capitalization of $2.34 billion, a PE ratio of 15.72 and a beta of 1.19.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.07. Ormat Technologies had a return on equity of 9.18% and a net margin of 23.05%. The business had revenue of $159.90 million for the quarter, compared to the consensus estimate of $152.88 million. During the same period in the prior year, the business posted $0.28 earnings per share. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. On average, equities research analysts predict that Ormat Technologies Inc. will post $1.91 earnings per share for the current year.

Several analysts have weighed in on the company. Zacks Investment Research cut Ormat Technologies from a “buy” rating to a “hold” rating in a report on Thursday, July 7th. Roth Capital began coverage on Ormat Technologies in a report on Thursday, July 28th. They set a “buy” rating and a $50.00 price objective on the stock. Oppenheimer Holdings Inc. began coverage on Ormat Technologies in a report on Thursday, September 8th. They set an “outperform” rating and a $54.00 price objective on the stock. Finally, JPMorgan Chase & Co. reissued a “hold” rating on shares of Ormat Technologies in a report on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $46.80.

In other news, Director David Granot sold 3,500 shares of the stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $48.27, for a total value of $168,945.00. Following the sale, the director now directly owns 3,500 shares in the company, valued at $168,945. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gillon Beck sold 390,000 shares of the stock in a transaction that occurred on Wednesday, September 28th. The stock was sold at an average price of $48.64, for a total value of $18,969,600.00. The disclosure for this sale can be found here. Company insiders own 22.97% of the company’s stock.

About Ormat Technologies

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. The Company’s equipment manufacturing operations are located in Israel. The Company conducts its business activities in two business segments: Electricity segment and Product segment.

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