Duality Advisers LP Takes $1.66 Million Position in Ormat Technologies, Inc. (NYSE:ORA)

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Duality Advisers LP purchased a new position in shares of Ormat Technologies, Inc. (NYSE:ORA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 26,090 shares of the energy company’s stock, valued at approximately $1,656,000. Duality Advisers LP owned approximately 0.05% of Ormat Technologies at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Gardiner Nancy B lifted its stake in shares of Ormat Technologies by 7.0% during the 2nd quarter. Gardiner Nancy B now owns 3,840 shares of the energy company’s stock worth $244,000 after purchasing an additional 250 shares during the period. Somerville Kurt F lifted its position in Ormat Technologies by 4.7% during the second quarter. Somerville Kurt F now owns 19,035 shares of the energy company’s stock worth $1,209,000 after buying an additional 860 shares during the period. Guinness Asset Management LTD grew its holdings in Ormat Technologies by 29.0% in the 2nd quarter. Guinness Asset Management LTD now owns 10,220 shares of the energy company’s stock valued at $649,000 after buying an additional 2,300 shares during the period. Guinness Atkinson Asset Management Inc grew its holdings in Ormat Technologies by 7.0% in the 2nd quarter. Guinness Atkinson Asset Management Inc now owns 4,559 shares of the energy company’s stock valued at $289,000 after buying an additional 300 shares during the period. Finally, Hemenway Trust Co LLC increased its stake in shares of Ormat Technologies by 12.0% during the 2nd quarter. Hemenway Trust Co LLC now owns 12,225 shares of the energy company’s stock valued at $776,000 after acquiring an additional 1,305 shares during the last quarter. Institutional investors and hedge funds own 71.60% of the company’s stock.

A number of research firms recently issued reports on ORA. JPMorgan Chase & Co. upgraded shares of Ormat Technologies from a “neutral” rating to an “overweight” rating and set a $82.00 target price for the company in a report on Thursday, July 9th. TheStreet raised shares of Ormat Technologies from a “c+” rating to a “b-” rating in a research note on Monday, June 8th. Finally, Zacks Investment Research downgraded Ormat Technologies from a “hold” rating to a “sell” rating and set a $63.00 price objective for the company. in a report on Monday, April 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Ormat Technologies has an average rating of “Hold” and an average target price of $74.40.

Ormat Technologies stock opened at $59.50 on Friday. The firm has a fifty day moving average of $64.08 and a 200-day moving average of $69.09. Ormat Technologies, Inc. has a 52-week low of $55.22 and a 52-week high of $87.07. The company has a quick ratio of 0.97, a current ratio of 1.03 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $3.04 billion, a P/E ratio of 34.80, a PEG ratio of 3.07 and a beta of 0.67.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings results on Monday, May 11th. The energy company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. The firm had revenue of $192.10 million during the quarter, compared to analysts’ expectations of $186.91 million. Ormat Technologies had a net margin of 11.93% and a return on equity of 4.95%. The firm’s revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.51 EPS. On average, research analysts expect that Ormat Technologies, Inc. will post 1.76 EPS for the current fiscal year.

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, and internationally. The company operates through three segments: Electricity, Product, and Other. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity.

See Also: Cost of Debt

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

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