Weebit Nano (ASX:WBT) Momentum Rank : 4 (As of Apr. 30, 2024)

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What is Weebit Nano Momentum Rank?

Weebit Nano has the Momentum Rank of 4.

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 Weebit Nano's Momentum Rank

For the Semiconductors subindustry, Weebit Nano'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.

Weebit Nano's Momentum Rank Distribution in the Semiconductors Industry

For the Semiconductors industry and Technology sector, Weebit Nano's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Weebit Nano's Momentum Rank falls into.

Weebit Nano Momentum Rank Related Terms

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Weebit Nano (ASX:WBT) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Semiconductors » Weebit Nano Ltd (ASX:WBT) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

WBTNF:USA 6RI:Germany

Address

330 Collins Street, Level 7, Melbourne, VIC, AUS, 3000

Website

https://www.weebit-nano.com

Weebit Nano Ltd is a memory and semiconductor technology company. The company is engaged in developing and commercializing silicon oxide (SiOx) and Resistive Random-Access Memory (ReRAM) technology based on fabrication factory-friendly materials. Its products are used in various applications, such as in computers, consumer electronics, smartphones, tablets, enterprise storage, automotive infotainment and navigation systems, healthcare, wearables and Internet of Things (IoT).