Granges AB (LTS:0R9X) Momentum Rank : 9 (As of Jun. 23, 2024)

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What is Granges AB Momentum Rank?

Granges AB has the Momentum Rank of 9.

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 Granges AB's Momentum Rank

For the Aluminum subindustry, Granges 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.

Granges AB's Momentum Rank Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Granges AB's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Granges AB's Momentum Rank falls into.

Granges AB Momentum Rank Related Terms

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Granges AB (LTS:0R9X) Business Description

Industry

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Traded in Other Exchanges

GRNG:Sweden

Address

Linnegatan 18, Stockholm, SWE, SE 114 47

Website

https://www.granges.com

Granges AB is a Sweden-based supplier of rolled aluminium products for original equipment manufacturers. It produces heat exchanger applications, specialty packaging, and new rolled product niches. It develops, produces, and markets advanced materials that enhance efficiency in the customers' manufacturing process and the performance of the final products. The firm operates in Europe, Asia, and the Americas, with production facilities in all three regions. Granges generate much of its revenue through contracts with customers based on the added value that Granges calculates from material cost and production complexity. In recent years, the company has put an emphasis on horizontal acquisitions exemplified by its 2020 acquisition of Aluminium Konin, strengthening its position in Europe.

Granges AB (LTS:0R9X) Headlines

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