High Arctic Energy Services (FRA:6LQ) Momentum Rank : 8 (As of May. 28, 2024)

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What is High Arctic Energy Services Momentum Rank?

High Arctic Energy Services has the Momentum Rank of 8.

For Momentum Rank, we considered the residual momentum concept that was widely studied by Blitz and his colleagues as well as by Nobel Prize laureates Fama and French. However, we did not find any significant differences in the performances of stocks with different ranks of residual momentum. Therefore, we use traditional momentum instead.

Momentum Rank is determined using the standardized momentum ratio and other momentum indicators. The standardized momentum ratio is the average of the performances from 12 months ago to 1 month ago and 6 months ago to 1 month ago, divided by the beta of the stock over the past 12 months. To calculate the momentum ratio today, we would use the average of the two performance numbers.

For momentum, we found that stock price performance does not have a monotonic correlation with the momentum ratio. The stocks with the highest momentum ratios perform worse than those at about the 70th percentile. Therefore, for the momentum rank, we ranked the stocks at about the 70th percentile of the momentum ratio as the highest at 10.

Please click GF Score to see more details on the GF Score's 5 Key Aspects of Analysis.

Competitive Comparison of High Arctic Energy Services's Momentum Rank

For the Oil & Gas Equipment & Services subindustry, High Arctic Energy Services's Momentum Rank, along with its competitors' market caps and Momentum Rank data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

High Arctic Energy Services's Momentum Rank Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, High Arctic Energy Services's Momentum Rank distribution charts can be found below:

* The bar in red indicates where High Arctic Energy Services's Momentum Rank falls into.

High Arctic Energy Services Momentum Rank Related Terms

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High Arctic Energy Services (FRA:6LQ) Business Description

Industry

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Traded in Other Exchanges

HGHAF:USA HWO:Canada

Address

330 - 5th Ave SW., Suite 2350, Calgary, AB, CAN, T2P 0L4

Website

https://www.haes.ca

High Arctic Energy Services Inc is engaged in providing contract drilling, well servicing, completion services, equipment rentals, and other oilfield services to the oil and natural gas industry in Papua New Guinea and Canada. The operating segments of the company are the Drilling Services segment which consists of drilling services; the Production Services segment which consists of well servicing and snubbing services; the Ancillary Services segment which provides rental equipment, nitrogen transport services, and engineering consulting to various companies within the oil and gas sector and Corporate segment. The Production Services segment generates the company's revenue.

High Arctic Energy Services (FRA:6LQ) Headlines

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