Migdal Insurance Financial Holdings Ltd. Lowers stake in Ormat Technologies (ORA)

Ormat Technologies (ORA) : Migdal Insurance Financial Holdings Ltd. reduced its stake in Ormat Technologies by 1.34% during the most recent quarter end. The investment management company now holds a total of 1,615,052 shares of Ormat Technologies which is valued at $69,770,246 after selling 22,000 shares in Ormat Technologies , the firm said in a disclosure report filed with the SEC on Apr 20, 2016.Ormat Technologies makes up approximately 2.12% of Migdal Insurance Financial Holdings Ltd.’s portfolio.

Ormat Technologies opened for trading at $42.59 and hit $43.4399 on the upside on Friday, eventually ending the session at $43.2, with a gain of 1.34% or 0.57 points. The heightened volatility saw the trading volume jump to 1,15,034 shares. Company has a market cap of $2,122 M.

Other Hedge Funds, Including , Winslow Evans Crocker reduced its stake in ORA by selling 97 shares or 24.87% in the most recent quarter. The Hedge Fund company now holds 293 shares of ORA which is valued at $12,658.Capital One National Association boosted its stake in ORA in the latest quarter, The investment management firm added 760 additional shares and now holds a total of 15,384 shares of Ormat Technologies which is valued at $664,589. Ormat Technologies makes up approx 0.06% of Capital One National Association’s portfolio.Creative Planning boosted its stake in ORA in the latest quarter, The investment management firm added 111 additional shares and now holds a total of 1,111 shares of Ormat Technologies which is valued at $44,707.

On the company’s financial health, Ormat Technologies reported $0.46 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Nov 3, 2015. Analyst had a consensus of $0.49. The company had revenue of $162.85 million for the quarter, compared to analysts expectations of $153.71 million. The company’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS.

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 various countries including the United States of America Kenya and Guatemala. 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. The Product Segment designs manufactures and sells equipment for geothermal and recovered energy-based electricity generation remote power units and other power generating units and provide services relating to the engineering procurement construction operation and maintenance of geothermal and recovered energy-based power plants. The Company’s customers include Southern California Edison Sierra Pacific Power Company Nevada Power Company HELCO and SCPPA.

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