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 decreasing.
- The decline rate of the primary trend is 21.14% per annum.
- ORA price at the close of May 8, 2025 was $74.11 and was higher than the top border of the primary price channel by $18.43 (33.11%). This indicates a possible reversal in the primary trend direction.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 16.80% per annum.
- ORA price at the close of May 8, 2025 was inside the secondary price channel.
- The direction of the secondary trend is opposite to the direction of the primary trend. This indicates a possible reversal in the direction of the primary trend.
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: July 28, 2022
End date: May 8, 2024
a = 5.0930
b = -0.0007
s = 0.0565
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0007) – 1
= -21.14%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0565) – 1
= 25.34%
July 28, 2022 calculations
Top border of price channel:
Exp(Y558)
= Exp(a + b × X558 + 2 × s)
= Exp(a + b × 808 + 2 × s)
= Exp(5.0930 + -0.0007 × 808 + 2 × 0.0565)
= Exp(4.6801)
= $107.78
Bottom border of price channel:
Exp(Y558)
= Exp(a + b × X558 – 2 × s)
= Exp(a + b × 808 – 2 × s)
= Exp(5.0930 + -0.0007 × 808 – 2 × 0.0565)
= Exp(4.4543)
= $85.99
May 8, 2024 calculations
Top border of price channel:
Exp(Y1,005)
= Exp(a + b × X1,005 + 2 × s)
= Exp(a + b × 1,458 + 2 × s)
= Exp(5.0930 + -0.0007 × 1,458 + 2 × 0.0565)
= Exp(4.2571)
= $70.60
Bottom border of price channel:
Exp(Y1,005)
= Exp(a + b × X1,005 – 2 × s)
= Exp(a + b × 1,458 – 2 × s)
= Exp(5.0930 + -0.0007 × 1,458 – 2 × 0.0565)
= Exp(4.0313)
= $56.33
Description
- The primary trend is decreasing.
- The decline rate of the primary trend is 21.14% per annum.
- ORA price at the close of May 8, 2025 was $74.11 and was higher than the top border of the primary price channel by $18.43 (33.11%). This indicates a possible reversal in the primary trend direction.
Secondary Trend
Start date: September 18, 2023
End date: December 16, 2024
a = 3.6395
b = 0.0004
s = 0.0563
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0004) – 1
= 16.80%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0563) – 1
= 25.28%
September 18, 2023 calculations
Top border of price channel:
Exp(Y844)
= Exp(a + b × X844 + 2 × s)
= Exp(a + b × 1,225 + 2 × s)
= Exp(3.6395 + 0.0004 × 1,225 + 2 × 0.0563)
= Exp(4.2734)
= $71.76
Bottom border of price channel:
Exp(Y844)
= Exp(a + b × X844 – 2 × s)
= Exp(a + b × 1,225 – 2 × s)
= Exp(3.6395 + 0.0004 × 1,225 – 2 × 0.0563)
= Exp(4.0480)
= $57.28
December 16, 2024 calculations
Top border of price channel:
Exp(Y1,158)
= Exp(a + b × X1,158 + 2 × s)
= Exp(a + b × 1,680 + 2 × s)
= Exp(3.6395 + 0.0004 × 1,680 + 2 × 0.0563)
= Exp(4.4670)
= $87.09
Bottom border of price channel:
Exp(Y1,158)
= Exp(a + b × X1,158 – 2 × s)
= Exp(a + b × 1,680 – 2 × s)
= Exp(3.6395 + 0.0004 × 1,680 – 2 × 0.0563)
= Exp(4.2416)
= $69.52
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 16.80% per annum.
- ORA price at the close of May 8, 2025 was inside the secondary price channel.