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Pangea Natural Foods (Pangea Natural Foods) Momentum Rank : 0 (As of Jun. 11, 2024)


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What is Pangea Natural Foods Momentum Rank?

Pangea Natural Foods 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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Pangea Natural Foods (Pangea Natural Foods) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Consumer Packaged Goods » Pangea Natural Foods Inc (OTCPK:PNGAF) » Definitions » Momentum Rank
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Traded in Other Exchanges
PNGA:Canada
Address
8035 - 130th Street, Surrey, BC, CAN, V3W 0H7
Website
https://www.pangeafood.com
Pangea Natural Foods Inc engages in the production and sale of plant-based patties. Pangea manufactures the plant-based patties at the Facility in the Vancouver lower mainland and sells the patties through multiple distribution channels including online sales platforms and retailers. The Company currently has one reportable operating segment, the manufacturing and distribution of food products in Canada.