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Minesto AB (OSTO:MINEST) Momentum Rank : 0 (As of Jun. 06, 2024)


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What is Minesto AB Momentum Rank?

Minesto AB has the Momentum Rank of 0.

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.

Minesto AB Momentum Rank Related Terms

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Minesto AB (OSTO:MINEST) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Independent Power Producers » Minesto AB (OSTO:MINEST) » Definitions » Momentum Rank
Comparable Companies
OSTO:ASAB OSTO:ARISE OSTO:CLIME B OSTO:CE OSTO:DLAB OSTO:ZAZZ B OSTO:CISH OSTO:ORRON ISX:BREN CEG WBO:VER XPRA:CEZ OCSE:ORSTED SHSE:600905 SHSE:600025 SZSE:001289 BOM:541450 XLIS:EDPR BSP:ELET3 BKK:GULF
Traded in Other Exchanges
7MN:Germany
Address
Vita gavelns vag 6, Vastra Frolunda, Gothenburg, SWE, 42671
Website
http://www.minesto.com
Minesto AB is a Sweden based company engaged in the production of tidal energy from the oceans. The main sources of the ocean energy include Tidal streams, Ocean currents, Tidal range (rise and fall), Waves, Ocean thermal energy and Salinity gradients.

Minesto AB (OSTO:MINEST) Headlines

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