Array Technologies (FRA:9AY) Momentum Rank : 4 (As of Jun. 12, 2024)

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What is Array Technologies Momentum Rank?

Array Technologies 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 Array Technologies's Momentum Rank

For the Solar subindustry, Array Technologies'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.

Array Technologies's Momentum Rank Distribution in the Semiconductors Industry

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

* The bar in red indicates where Array Technologies's Momentum Rank falls into.

Array Technologies Momentum Rank Related Terms

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Array Technologies (FRA:9AY) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Semiconductors » Array Technologies Inc (FRA:9AY) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

ARRY:USA 9AY:Germany

Address

3901 Midway Place NE, Albuquerque, NM, USA, 87109

Website

https://www.arraytechinc.com

Array Technologies Inc manufacturer of ground-mounting systems used in solar energy projects. The company's product is an integrated system of steel supports, electric motors, gearboxes and electronic controllers referred to as a single-axis tracker that move solar panels throughout the day to maintain an optimal orientation to the sun, which increases their energy production. Its operations are in the United States, Australia, Spain, Brazil and Rest of the World with the United States deriving the majority of the revenue.

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