Ormat Technologies Inc (ORA)
Ormat Technologies, Inc. is engaged in the geothermal and recovered energy business in the United States, Indonesia, Kenya, Turkey, Chile, Guadeloupe, Guatemala, Ethiopia, New Zealand, Honduras and internationally. The company is headquartered in Reno, Nevada.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is increasing.
- The growth rate of the primary trend is 33.56% per annum.
- ORA price at the close of November 20, 2024 was $79.38 and was inside the primary price channel.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 20.61% per annum.
- ORA price at the close of November 20, 2024 was inside the secondary price channel.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of ORA price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: January 24, 2024
End date: November 20, 2024
a = 2.9365
b = 0.0008
s = 0.0351
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0008) – 1
= 33.56%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0351) – 1
= 15.05%
January 24, 2024 calculations
Top border of price channel:
Exp(Y1,048)
= Exp(a + b × X1,048 + 2 × s)
= Exp(a + b × 1,525 + 2 × s)
= Exp(2.9365 + 0.0008 × 1,525 + 2 × 0.0351)
= Exp(4.2158)
= $67.75
Bottom border of price channel:
Exp(Y1,048)
= Exp(a + b × X1,048 – 2 × s)
= Exp(a + b × 1,525 – 2 × s)
= Exp(2.9365 + 0.0008 × 1,525 – 2 × 0.0351)
= Exp(4.0756)
= $58.89
November 20, 2024 calculations
Top border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(2.9365 + 0.0008 × 1,826 + 2 × 0.0351)
= Exp(4.4545)
= $86.01
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(2.9365 + 0.0008 × 1,826 – 2 × 0.0351)
= Exp(4.3143)
= $74.76
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 33.56% per annum.
- ORA price at the close of November 20, 2024 was $79.38 and was inside the primary price channel.
Secondary Trend
Start date: May 13, 2024
End date: November 20, 2024
a = 3.4292
b = 0.0005
s = 0.0270
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0005) – 1
= 20.61%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0270) – 1
= 11.43%
May 13, 2024 calculations
Top border of price channel:
Exp(Y1,124)
= Exp(a + b × X1,124 + 2 × s)
= Exp(a + b × 1,635 + 2 × s)
= Exp(3.4292 + 0.0005 × 1,635 + 2 × 0.0270)
= Exp(4.3226)
= $75.39
Bottom border of price channel:
Exp(Y1,124)
= Exp(a + b × X1,124 – 2 × s)
= Exp(a + b × 1,635 – 2 × s)
= Exp(3.4292 + 0.0005 × 1,635 – 2 × 0.0270)
= Exp(4.2144)
= $67.66
November 20, 2024 calculations
Top border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(3.4292 + 0.0005 × 1,826 + 2 × 0.0270)
= Exp(4.4207)
= $83.15
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(3.4292 + 0.0005 × 1,826 – 2 × 0.0270)
= Exp(4.3125)
= $74.63
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 20.61% per annum.
- ORA price at the close of November 20, 2024 was inside the secondary price channel.