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ALTEO Energy Services (BUD:ALTEO) Momentum Rank : 0 (As of Jun. 21, 2024)


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What is ALTEO Energy Services Momentum Rank?

ALTEO Energy Services 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.

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ALTEO Energy Services (BUD:ALTEO) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Independent Power Producers » ALTEO Energy Services PLC (BUD:ALTEO) » Definitions » Momentum Rank
Comparable Companies
BUD:PANNERGY BUD:NAP BUD:ENEFI ISX:BREN CEG WBO:VER XPRA:CEZ OCSE:ORSTED SHSE:600905 SHSE:600025 SZSE:001289 BOM:541450 XLIS:EDPR BSP:ELET3 BKK:GULF SHSE:600886 TSE:9503 OHEL:FORTUM SHSE:600795 XSWX:BKW
Traded in Other Exchanges
54O:Germany
Address
Korhaz utca 6-12., Budapest, HUN, 1033
Website
https://www.alteo.hu
ALTEO Energy Services PLC operates in the utility industry in Hungary. Its business segments includes, Heat and electricity production and management, Renewables-based energy production, Energy services, Energy trading and other. Majority of the revenue generated from Heat and electricity production and management.

ALTEO Energy Services (BUD:ALTEO) Headlines

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