Dril-Quip Inc (DRQ)
Dril-Quip, Inc. designs, manufactures, sells and services drilling and production equipment designed for use in deep water, harsh environments and severe service applications worldwide. The company is headquartered in Houston, Texas.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is decreasing.
- The decline rate of the primary trend is 91.04% per annum.
- DRQ price at the close of May 8, 2024 was $19.22 and was inside the primary price channel.
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 61.54% per annum.
- DRQ price at the close of May 8, 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 DRQ 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: March 19, 2024
End date: May 7, 2024
a = 14.9609
b = -0.0066
s = 0.0360
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0066) – 1
= -91.04%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0360) – 1
= 15.48%
March 19, 2024 calculations
Top border of price channel:
Exp(Y1,223)
= Exp(a + b × X1,223 + 2 × s)
= Exp(a + b × 1,776 + 2 × s)
= Exp(14.9609 + -0.0066 × 1,776 + 2 × 0.0360)
= Exp(3.2930)
= $26.92
Bottom border of price channel:
Exp(Y1,223)
= Exp(a + b × X1,223 – 2 × s)
= Exp(a + b × 1,776 – 2 × s)
= Exp(14.9609 + -0.0066 × 1,776 – 2 × 0.0360)
= Exp(3.1491)
= $23.32
May 7, 2024 calculations
Top border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,825 + 2 × s)
= Exp(14.9609 + -0.0066 × 1,825 + 2 × 0.0360)
= Exp(2.9691)
= $19.48
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,825 – 2 × s)
= Exp(14.9609 + -0.0066 × 1,825 – 2 × 0.0360)
= Exp(2.8252)
= $16.86
Description
- The primary trend is decreasing.
- The decline rate of the primary trend is 91.04% per annum.
- DRQ price at the close of May 8, 2024 was $19.22 and was inside the primary price channel.
Secondary Trend
Start date: April 17, 2024
End date: May 8, 2024
a = 7.7032
b = -0.0026
s = 0.0242
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0026) – 1
= -61.54%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0242) – 1
= 10.16%
April 17, 2024 calculations
Top border of price channel:
Exp(Y1,243)
= Exp(a + b × X1,243 + 2 × s)
= Exp(a + b × 1,805 + 2 × s)
= Exp(7.7032 + -0.0026 × 1,805 + 2 × 0.0242)
= Exp(3.0265)
= $20.62
Bottom border of price channel:
Exp(Y1,243)
= Exp(a + b × X1,243 – 2 × s)
= Exp(a + b × 1,805 – 2 × s)
= Exp(7.7032 + -0.0026 × 1,805 – 2 × 0.0242)
= Exp(2.9297)
= $18.72
May 8, 2024 calculations
Top border of price channel:
Exp(Y1,258)
= Exp(a + b × X1,258 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(7.7032 + -0.0026 × 1,826 + 2 × 0.0242)
= Exp(2.9715)
= $19.52
Bottom border of price channel:
Exp(Y1,258)
= Exp(a + b × X1,258 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(7.7032 + -0.0026 × 1,826 – 2 × 0.0242)
= Exp(2.8747)
= $17.72
Description
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 61.54% per annum.
- DRQ price at the close of May 8, 2024 was inside the secondary price channel.