Benzinga - by Avi Kapoor, Benzinga Staff Writer.
The most oversold stocks in the energy 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.
Vertex Energy, Inc. (NASDAQ: VTNR)
- On Jan. 2, Vertex Energy announced it amended its existing term loan agreement, which provides for an incremental $50 million in borrowings to the company. The company’s stock fell around 37% over the past month and has a 52-week low of $1.32 .
- RSI Value: 28.00
- VTNR Price Action: Shares of Vertex Energy closed at $1.41 on Tuesday.
- On Nov. 28, Cool Co posted an increase in sales for the third quarter. The company’s stock fell around 11% over the past five days. It has a 52-week low of $10.61.
- RSI Value: 21.84
- CLCO Price Action: Shares of Cool Company fell 0.8% to close at $10.61 on Tuesday.
- The company’s stock fell around 30% over the past month and has a 52-week low of $5.66.
- RSI Value: 29.23
- EP Price Action: Shares of Empire Petroleum fell 2.4% to close at $6.07 on Tuesday.
- On Dec. 19, ENGlobal announced that it received notice from the Nasdaq Stock Market saying that it regained compliance with the minimum bid price requirement. The company’s shares lost around 30% over the past month. The company’s 52-week low is $1.01.
- RSI Value: 24.42
- ENG Price Action: Shares of ENGlobal fell 9.7% to close at $1.21 on Tuesday.
- On Nov. 6, Hallador Energy posted weaker-than-expected earnings for its third quarter. The company’s shares fell around 19% over the past five days. The company has a 52-week low of $6.87.
- RSI Value: 25.10
- HNRG Price Action: Shares of Hallador Energy fell 4.8% to close at $7.30 on Tuesday.
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