At the moment, there are plenty of indicators shareholders can use to monitor their holdings. A duo of the most innovative are hedge fund and insider trading interest. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the best money managers can outpace the market by a healthy amount (see just how much).
Equally as integral, positive insider trading sentiment is another way to break down the financial markets. Obviously, there are many incentives for an insider to sell shares of his or her company, but just one, very obvious reason why they would behave bullishly. Many academic studies have demonstrated the market-beating potential of this tactic if shareholders know where to look (learn more here).
With all of this in mind, we’re going to take a peek at the key action surrounding Ormat Technologies, Inc. (NYSE:ORA).
How are hedge funds trading Ormat Technologies, Inc. (NYSE:ORA)?
In preparation for this year, a total of 7 of the hedge funds we track were long in this stock, a change of 0% from one quarter earlier. With hedgies’ capital changing hands, there exists a few key hedge fund managers who were increasing their holdings substantially.
Of the funds we track, John A. Levin’s Levin Capital Strategies had the most valuable position in Ormat Technologies, Inc. (NYSE:ORA), worth close to $3.9 million, comprising 0.1% of its total 13F portfolio. On Levin Capital Strategies’s heels is Philip Hempleman of Ardsley Partners, with a $3.7 million position; the fund has 0.7% of its 13F portfolio invested in the stock. Remaining hedge funds that hold long positions include Mario Gabelli’s GAMCO Investors, D. E. Shaw’s D E Shaw and Ken Griffin’s Citadel Investment Group.
What have insiders been doing with Ormat Technologies, Inc. (NYSE:ORA)?
Insider trading activity, especially when it’s bullish, is most useful when the primary stock in question has experienced transactions within the past 180 days. Over the last 180-day time frame, Ormat Technologies, Inc. (NYSE:ORA) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).
Let’s also take a look at hedge fund and insider activity in other stocks similar to Ormat Technologies, Inc. (NYSE:ORA). These stocks are UIL Holdings Corporation (NYSE:UIL), Black Hills Corp (NYSE:BKH), Atlantic Power Corp (NYSE:AT), El Paso Electric Company (NYSE:EE), and The Empire District Electric Company (NYSE:EDE). This group of stocks are the members of the electric utilities industry and their market caps resemble ORA’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| UIL Holdings Corporation (NYSE:UIL) | 8 | 2 | 2 |
| Black Hills Corp (NYSE:BKH) | 7 | 0 | 0 |
| Atlantic Power Corp (NYSE:AT) | 2 | 3 | 0 |
| El Paso Electric Company (NYSE:EE) | 12 | 1 | 2 |
| The Empire District Electric Company (NYSE:EDE) | 4 | 0 | 1 |
With the returns shown by our research, retail investors must always keep an eye on hedge fund and insider trading sentiment, and Ormat Technologies, Inc. (NYSE:ORA) is no exception.
