L & S Advisors Inc Invests $941,000 in Ormat Technologies, Inc. $ORA

L & S Advisors Inc purchased a new position in Ormat Technologies, Inc. (NYSE:ORA) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 9,773 shares of the energy company’s stock, valued at approximately $941,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of Ormat Technologies in the second quarter worth approximately $56,458,000. Groupama Asset Managment bought a new stake in shares of Ormat Technologies during the second quarter valued at approximately $41,880,000. Canada Pension Plan Investment Board raised its holdings in Ormat Technologies by 62.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,073,639 shares of the energy company’s stock worth $89,928,000 after acquiring an additional 413,384 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in Ormat Technologies in the 2nd quarter valued at approximately $18,310,000. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new position in Ormat Technologies in the 3rd quarter valued at approximately $14,005,000. 95.49% of the stock is currently owned by institutional investors.

Ormat Technologies Price Performance

NYSE ORA opened at $120.07 on Friday. The company has a 50-day moving average price of $118.35 and a 200-day moving average price of $107.02. Ormat Technologies, Inc. has a 52 week low of $64.39 and a 52 week high of $132.58. The company has a quick ratio of 0.70, a current ratio of 0.77 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $7.30 billion, a P/E ratio of 55.08, a PEG ratio of 4.90 and a beta of 0.77.

Analyst Ratings Changes

A number of analysts have commented on the company. Oppenheimer lifted their target price on Ormat Technologies from $125.00 to $136.00 and gave the stock an “outperform” rating in a report on Tuesday, January 27th. UBS Group reiterated a “buy” rating and issued a $148.00 price objective on shares of Ormat Technologies in a report on Wednesday, February 4th. Citigroup upped their target price on shares of Ormat Technologies from $110.00 to $128.00 and gave the company a “neutral” rating in a research note on Wednesday. Barclays reduced their price target on shares of Ormat Technologies from $118.00 to $108.00 and set an “overweight” rating for the company in a research note on Thursday, January 15th. Finally, Roth Mkm set a $139.00 price objective on shares of Ormat Technologies in a research report on Wednesday, January 28th. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $129.80.

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.