NG Energy International (TSXV:GASX) Momentum Rank : 8 (As of May. 12, 2024)

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What is NG Energy International Momentum Rank?

NG Energy International has the Momentum Rank of 8.

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 NG Energy International's Momentum Rank

For the Oil & Gas E&P subindustry, NG Energy International'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.

NG Energy International's Momentum Rank Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, NG Energy International's Momentum Rank distribution charts can be found below:

* The bar in red indicates where NG Energy International's Momentum Rank falls into.

NG Energy International Momentum Rank Related Terms

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NG Energy International (TSXV:GASX) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » NG Energy International Corp (TSXV:GASX) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

GASXF:USA 56P:Germany

Address

595 Burrard Street, Suite 3123, Vancouver, BC, CAN, V7X 1J1

Website

https://www.ngxenergyintl.com

NG Energy International Corp is an oil and gas company. It is engaged in the business of exploration and development of oil and gas. The company derives key revenue from the sales of oil and natural gas.

Executives

Brian Alexander Paes-braga

10% Security Holder, Director

NG Energy International (TSXV:GASX) Headlines

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