EnviTec Biogas AG (XTER:ETG) Momentum Rank : 2 (As of Jun. 18, 2024)

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What is EnviTec Biogas AG Momentum Rank?

EnviTec Biogas AG has the Momentum Rank of 2.

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 EnviTec Biogas AG's Momentum Rank

For the Utilities - Renewable subindustry, EnviTec Biogas AG'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.

EnviTec Biogas AG's Momentum Rank Distribution in the Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, EnviTec Biogas AG's Momentum Rank distribution charts can be found below:

* The bar in red indicates where EnviTec Biogas AG's Momentum Rank falls into.

EnviTec Biogas AG Momentum Rank Related Terms

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EnviTec Biogas AG (XTER:ETG) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Independent Power Producers » EnviTec Biogas AG (XTER:ETG) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

ETG:Germany ETG:Germany ETG:Germany

Address

Industriering 10a, Lohne, NW, DEU, 49393

Website

https://www.envitec-biogas.de

EnviTec Biogas AG is a Germany based company engaged in manufacturing and operating biogas and biomethane plants. It provides biological and technical services, and plant management and operation services. The operating segments of the company are Plant construction, Own plant operation and energy, and Service. It generates maximum revenue from its Own plant operation and energy segment. Geographically, it derives a majority of its revenue from Germany and also has a presence in Italy; Great Britain; Czech Republic; France; Denmark and Other Countries.

EnviTec Biogas AG (XTER:ETG) Headlines

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