Eco Wave Power Global AB (FRA:1KW0) Momentum Rank : 1 (As of Dec. 14, 2024)

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What is Eco Wave Power Global AB Momentum Rank?

Eco Wave Power Global AB has the Momentum Rank of 1.

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 Eco Wave Power Global AB's Momentum Rank

For the Utilities - Renewable subindustry, Eco Wave Power Global AB'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.

Eco Wave Power Global AB's Momentum Rank Distribution in the Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, Eco Wave Power Global AB's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Eco Wave Power Global AB's Momentum Rank falls into.

Eco Wave Power Global AB Momentum Rank Related Terms

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Eco Wave Power Global AB Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Independent Power Producers » Eco Wave Power Global AB (FRA:1KW0) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

WAVE:USA

Address

52 Derech Menachem Begin Street, Tel Aviv, ISR, 6713701

Website

https://www.ecowavepower.com

Eco Wave Power Global AB is a Sweden-based wave energy company engaged in the development of a smart and cost-efficient WEC, technology that converts ocean and sea waves into clean electricity. Its WEC technology employs units of point absorber floating devices, referred to as floaters, which are installed on existing marine structures such as piers, breakwaters, and jetties, or in locations in which such marine structures are required. Geographical presence in Israel, USA and Mexico.

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