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ELMO Rent AS (OTSE:ELMO) Momentum Rank : 0 (As of Jun. 03, 2024)


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What is ELMO Rent AS Momentum Rank?

ELMO Rent 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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ELMO Rent AS (OTSE:ELMO) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Industrials » Business Services » ELMO Rent AS (OTSE:ELMO) » Definitions » Momentum Rank
Comparable Companies
SHSE:600769 SZSE:300536 SHSE:688509 SZSE:300983 SHSE:600939 SZSE:002307 SHSE:603098 SZSE:300989 SZSE:300597 SZSE:300517 URI LSE:AHT AER BSP:RENT3 UHAL WSC CAR XPAR:ALD TSX:EFN TSE:8439
Traded in Other Exchanges
N/A
Address
Kivi 12, Laane-Harju, Paldiski, EST, 76805
Website
https://www.elmorent.ee
ELMO Rent AS is engaged in the provision of green vehicle-sharing services and the development, launching, and scaling of related green and innovative technologies, such as a vehicle fleet IT operation system, an automatic controller, and a remotely controlled vehicle.

ELMO Rent AS (OTSE:ELMO) Headlines

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