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Greenlane Renewables (TSX:GRN) Momentum Rank : 0 (As of Jun. 01, 2024)


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What is Greenlane Renewables Momentum Rank?

Greenlane Renewables 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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Greenlane Renewables (TSX:GRN) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Greenlane Renewables Inc (TSX:GRN) » Definitions » Momentum Rank
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Traded in Other Exchanges
GRNWF:USA 52G:Germany
Address
3605 Gilmore Way, Suite 110, Burnaby, BC, CAN, V5G 4X5
Website
https://www.greenlanerenewables.com
Greenlane Renewables Inc is a provider of biogas upgrading systems. Its systems produce clean, renewable natural gas from organic waste sources, including landfills, wastewater treatment plants, dairy farms, and food waste, suitable for either injection into the natural gas grid or for direct use as vehicle fuel. The company generates revenue in the form of System sales and Aftercare services. The company has its geographic presence in Canada, Europe and United States and Others.
Executives
Candice Alderson Director

Greenlane Renewables (TSX:GRN) Headlines