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.
Driven Brands Holdings Inc. (NASDAQ: DRVN)
- Driven Brands Board of Directors has authorized the company, at its discretion, to repurchase up to $50 million of its common shares outstanding through March 31, 2025. "This share repurchase authorization reflects our confidence in the business and our commitment to enhancing shareholder returns while we continue to invest in our growth initiatives," said President and CEO Jonathan Fitzpatrick. The company’s stock has a 52-week low of $13.15 .
- RSI Value: 28.61
- DRVN Price Action: Shares of Driven Brands fell 1% to close at $13.28 on Thursday.
- Alaska Air Group, Inc (NYSE: ALK) reported better-than-expected earnings and sales results for its second quarter. It has a 52-week low of $37.20.
- RSI Value: 28.20
- ALK Price Action: Shares of Alaska Air fell 1.2% to close at $38.15 on Thursday.
- FREYR Battery filed Form S-4 for redomicile from Luxembourg to U.S. The company’s stock has a 52-week low of $5.00.
- RSI Value: 24.48
- FREY Price Action: Shares of FREYR Battery fell 5.1% to close at $5.00 on Thursday.
- Asure Software raised $40 million via secondary offering of 3.33 million shares at$12.00 per share. The company’s 52-week low is $4.87.
- RSI Value: 29.08
- ASUR Price Action: Shares of Asure Software fell 6.7% to close at $8.21 on Thursday.
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