Enefit Green AS (OTSE:EGR1T) Momentum Rank : 0 (As of Jun. 20, 2024)

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What is Enefit Green AS Momentum Rank?

Enefit Green AS 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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Enefit Green AS (OTSE:EGR1T) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Independent Power Producers » Enefit Green AS (OTSE:EGR1T) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

I6B:Germany

Address

Lelle tn 22, Tallinn, EST, 11318

Website

https://www.enefitgreen.ee

Enefit Green AS is a renewable energy producer in the Baltic Sea region. The company produces electricity from wind, as well as municipal waste, biomass, solar and hydroelectric sources in Estonia, Latvia, Lithuania, and Poland. The segments of the company are Wind energy segment which comprises all of the company's wind farms and generates key revenue for the firm; Cogeneration segment comprises all of the company's cogeneration plants and the pellet factory and Solar energy segment comprises all of the company's solar farms.

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