Benzinga - by Avi Kapoor, Benzinga Staff Writer.
The most oversold stocks in the industrials sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30, according to Benzinga Pro.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
Advent Technologies Holdings, Inc. (NASDAQ:ADN)
- On May 1, Advent Technologies approved a 1-for-30 reverse stock split. The company's stock fell around 46% over the past month and has a 52-week low of $0.1020.
- RSI Value: 24.62
- ADN Price Action: Shares of Advent Technologies rose 0.2% to close at $0.1035 on Tuesday.
- On May 7, the company posted net sales of $137.9 million for the first quarter. “Building on a year of record net sales and Adjusted EBITDA, we continued to successfully increase net sales and gross margin sequentially and year over year,” said Warren Kanders, CEO and Chairman. The company's stock fell around 4% over the past month. It has a 52-week low of $19.13.
- RSI Value: 20.34
- CDRE Price Action: Shares of Cadre Holdings fell 0.7% to close at $34.35 on Tuesday.
- On May 2, Huntington Ingalls reported first-quarter FY24 results. Sales and service revenue increased 4.9% Y/Y to $2.81 billion, beating the consensus of $2.79 billion. "Strong growth in Mission Technologies and stable shipbuilding progress provide a solid foundation for the balance of 2024 and beyond." said Chris Kastner, president and CEO. The company's shares fell around 11% over the past five days and has a 52-week low of $194.17.
- RSI Value: 23.72
- HII Price Action: Shares of Huntington Ingalls rose 0.8% to close at $248.57 on Tuesday.
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