Chesapeake Capital Corp IL Has $225,000 Stock Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Chesapeake Capital Corp IL lessened its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 50.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,318 shares of the energy company’s stock after selling 3,421 shares during the period. Chesapeake Capital Corp IL’s holdings in Ormat Technologies were worth $225,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ORA. Versant Capital Management Inc lifted its position in shares of Ormat Technologies by 132.4% during the 4th quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock worth $27,000 after purchasing an additional 229 shares during the last quarter. AlphaQuest LLC increased its stake in Ormat Technologies by 4,691.7% during the fourth quarter. AlphaQuest LLC now owns 575 shares of the energy company’s stock valued at $39,000 after acquiring an additional 563 shares during the period. Mendota Financial Group LLC bought a new position in Ormat Technologies during the fourth quarter valued at about $98,000. Generali Investments CEE investicni spolecnost a.s. bought a new position in Ormat Technologies during the fourth quarter valued at about $182,000. Finally, Raymond James Financial Inc. bought a new position in Ormat Technologies during the fourth quarter valued at about $204,000. Institutional investors and hedge funds own 95.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ORA shares. Robert W. Baird started coverage on Ormat Technologies in a research note on Thursday, March 13th. They set a “neutral” rating and a $81.00 price target on the stock. Jefferies Financial Group upgraded Ormat Technologies from a “hold” rating to a “buy” rating and boosted their price target for the company from $73.00 to $78.00 in a research note on Thursday, February 20th. Piper Sandler started coverage on Ormat Technologies in a research note on Thursday, December 19th. They set a “neutral” rating and a $78.00 price target on the stock. Baird R W upgraded Ormat Technologies to a “hold” rating in a research note on Thursday, March 13th. Finally, JPMorgan Chase & Co. upped their price objective on Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, February 28th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $82.67.

Insider Buying and Selling

In related news, Director David Granot sold 1,666 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $69.00, for a total transaction of $114,954.00. Following the sale, the director now directly owns 1,910 shares in the company, valued at $131,790. This represents a 46.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by corporate insiders.

Ormat Technologies Trading Down 0.8 %

ORA stock opened at $72.10 on Wednesday. The firm has a market cap of $4.36 billion, a P/E ratio of 36.79, a P/E/G ratio of 3.18 and a beta of 0.51. Ormat Technologies, Inc. has a 1-year low of $59.41 and a 1-year high of $84.30. The business’s 50 day moving average is $66.97 and its 200-day moving average is $72.96. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73.

Ormat Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th will be given a dividend of $0.12 per share. The ex-dividend date is Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a yield of 0.67%. Ormat Technologies’s dividend payout ratio (DPR) is presently 23.53%.

Ormat Technologies Company Profile

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, Guadeloupe, New Zealand, Honduras, and internationally. It operates in three segments: Electricity, Product, and Energy Storage. The Electricity segment develops, builds, owns, and operates geothermal, solar photovoltaic, and recovered energy-based power plants; and sells electricity.