Benzinga - by Lisa Levin, Benzinga Editor.
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.
Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.
Desktop Metal, Inc. (NYSE: DM)
- Desktop Metal reported termination of shareholder rights plan. The company’s stock has a 52-week low of $1.05 .
- RSI Value: 29.97
- DM Price Action: Shares of Desktop Metal gained 7.5% to close at $1.15 on Friday.
- The company reported revenue, less repair payments, of $325 million, up 12.3% Y/Y, marginally missing the consensus of $325.56 million and lowered its FY24 outlook. Sanjay Puria, Chief Financial Officer, said, "The revised guidance reflects reduced volume commitments from certain clients, lower project revenues, and a delay in the ramp of our large insurance captive. We currently have 97% visibility to the midpoint of the revenue range. For the year, we expect capital expenditures of up to $60 million." It has a 52-week low of $51.84.
- RSI Value: 29.18
- WNS Price Action: Shares of WNS gained 1.8% to close at $56.88 on Friday.
- Terran Orbital priced its previously announced public offering of 23.2 million shares and warrants to purchase up to 23.2 million shares at a combined public offering price of $1.40 per share and accompanying warrant. The company’s stock has a 52-week low of $0.6250.
- RSI Value: 28.43
- LLAP Price Action: Shares of Terran Orbital fell 0.6% to close at $0.6627 on Friday.
- JELD-WEN posted better-than-expected second-quarter results. "In the second quarter, our global associates continued to execute against our near-term goals of simplifying and strengthening JELD-WEN while improving profitability and generating strong cash flow," said Chief Executive Officer William J. Christensen. " The company’s 52-week low is $8.42.
- RSI Value: 28.81
- JELD Price Action: Shares of JELD-WEN gained 1.5% to close at $11.61 on Friday.
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