In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Ormat Technologies Inc. (NYSE:ORA) reported that Bronicki Investments Ltd. has picked up 10,451,077 of common stock as of 2017-05-09.
The acquisition brings the aggregate amount owned by Bronicki Investments Ltd. to a total of 10,451,077 representing less than 21.0% stake in the company.
For those not familiar with the company, 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. Its equipment manufacturing operations are located in Israel. It conducts its business activities in two business segments: Electricity segment and Product segment. The Electricity segment develops, builds, owns and operates geothermal and recovered energy-based power plants in the United States and geothermal power plants in other countries around the world, and sells the electricity it generates. The Product Segment designs, manufactures and sells equipment for geothermal and recovered energy-based electricity generation and remote power units, and provide services relating to the engineering, procurement, construction, operation and maintenance of geothermal, and recovered energy-based power plants. It manufactures products that produce electricity from recovered energy or waste heat.
A glance at Ormat Technologies Inc. (NYSE:ORA)’s key stats reveals a current market capitalization of 2.86 Billion based on 49.67 Million shares outstanding and a price at last close of $58.09 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2011-08-08, Wagener picked up 600 at a purchase price of $16.11. This brings their total holding to 2,500 as of the date of the filing.
On the sell side, the most recent transaction saw Klein unload 5,150 shares at a sale price of $52.95. This brings their total holding to 0.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Ormat Technologies Inc. (NYSE:ORA) as things move forward to see if its progress aligns with these transactions.
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