Cactus Inc (WHD)
Cactus, Inc. designs, manufactures, sells, and leases a variety of wellheads and pressure control equipment in the United States. The company is headquartered in Houston, Texas.
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 3.66% per annum.
- WHD price at the close of October 16, 2024 was $63.23 and was higher than the top border of the primary price channel by $1.22 (1.97%).
- The secondary trend is increasing.
- The growth rate of the secondary trend is 63.18% per annum.
- WHD price at the close of October 16, 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 WHD 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: October 1, 2021
End date: July 10, 2024
a = 3.6896
b = 0.0001
s = 0.1289
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0001) – 1
= 3.66%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.1289) – 1
= 67.43%
October 1, 2021 calculations
Top border of price channel:
Exp(Y493)
= Exp(a + b × X493 + 2 × s)
= Exp(a + b × 715 + 2 × s)
= Exp(3.6896 + 0.0001 × 715 + 2 × 0.1289)
= Exp(4.0178)
= $55.58
Bottom border of price channel:
Exp(Y493)
= Exp(a + b × X493 – 2 × s)
= Exp(a + b × 715 – 2 × s)
= Exp(3.6896 + 0.0001 × 715 – 2 × 0.1289)
= Exp(3.5024)
= $33.19
July 10, 2024 calculations
Top border of price channel:
Exp(Y1,188)
= Exp(a + b × X1,188 + 2 × s)
= Exp(a + b × 1,728 + 2 × s)
= Exp(3.6896 + 0.0001 × 1,728 + 2 × 0.1289)
= Exp(4.1176)
= $61.41
Bottom border of price channel:
Exp(Y1,188)
= Exp(a + b × X1,188 – 2 × s)
= Exp(a + b × 1,728 – 2 × s)
= Exp(3.6896 + 0.0001 × 1,728 – 2 × 0.1289)
= Exp(3.6022)
= $36.68
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 3.66% per annum.
- WHD price at the close of October 16, 2024 was $63.23 and was higher than the top border of the primary price channel by $1.22 (1.97%).
Secondary Trend
Start date: November 16, 2023
End date: October 16, 2024
a = 1.6864
b = 0.0013
s = 0.0488
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0013) – 1
= 63.18%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0488) – 1
= 21.56%
November 16, 2023 calculations
Top border of price channel:
Exp(Y1,028)
= Exp(a + b × X1,028 + 2 × s)
= Exp(a + b × 1,491 + 2 × s)
= Exp(1.6864 + 0.0013 × 1,491 + 2 × 0.0488)
= Exp(3.7843)
= $44.00
Bottom border of price channel:
Exp(Y1,028)
= Exp(a + b × X1,028 – 2 × s)
= Exp(a + b × 1,491 – 2 × s)
= Exp(1.6864 + 0.0013 × 1,491 – 2 × 0.0488)
= Exp(3.5890)
= $36.20
October 16, 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(1.6864 + 0.0013 × 1,826 + 2 × 0.0488)
= Exp(4.2337)
= $68.97
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(1.6864 + 0.0013 × 1,826 – 2 × 0.0488)
= Exp(4.0384)
= $56.74
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 63.18% per annum.
- WHD price at the close of October 16, 2024 was inside the secondary price channel.