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.
Fathom Digital Manufacturing Corporation (NYSE: FATH)
- Fathom Digital Manufacturing named Carey Chen as CEO. The company’s stock has a 52-week low of $2.9930 .
- RSI Value: 19.52
- FATH Price Action: Shares of Fathom Digital Manufacturing gained 17.5% to close at $4.2873 on Friday.
- Spirit Airlines reported third-quarter revenue declined 6.3% Y/Y to $1,259 million, beating the consensus of $1,258 million. “Softer demand for our product and discounted fares in our markets led to a disappointing outcome for the third quarter 2023. We continue to see discounted fares for travel booked through the pre-Thanksgiving period. And, unfortunately, we have not seen the anticipated return to a normal demand and pricing environment for the peak holiday periods,” said Ted Christie, Spirit's President and Chief Executive Officer. It has a 52-week low of $10.73.
- RSI Value: 22.20
- SAVE Price Action: Shares of Spirit Airlines gained 1.4% to close at $11.26 on Friday.
- The company reported preliminary third-quarter revenues of $52.5 million, up from $49.8 million a year ago. "Our Midwest hotel portfolio is showing stable seasonal revenue and hopes to capitalize on growing work travel trends and other opportunities in both Rockford, IL, and Madison, WI," stated Milton "Todd" Ault III, Executive Chairman. The company’s stock has a 52-week low of $ 0.11.
- RSI Value: 19.83
- AULT Price Action: Shares of Ault Alliance fell 3.1% to close at $0.1230 on Friday.
- Standex International posted upbeat quarterly results. President and Chief Executive Officer David Dunbar said, “We followed a record fiscal year 2023 with a strong fiscal first quarter performance that further highlights the quality of our businesses. On the top line, we delivered 2.5% organic growth as the strong customer demand in Engraving and more favorable project timing in Engineering Technologies were partially offset by continued softness in general industrial and appliances end markets in China and Europe served by Electronics.” The company’s 52-week low is $96.32.
- RSI Value: 23.98
- SXI Price Action: Shares of Standex International fell 5.3% to close at $135.45 on Friday.
- Twin Disc posted a narrower loss for its first quarter. “We delivered impressive results in the first quarter, highlighted by double-digit revenue growth, robust margin expansion, and solid cash generation, giving us the confidence to reinstate our quarterly dividend,” commented John H. Batten, President and Chief Executive Officer of Twin Disc. The company has a 52-week low of $8.60.
- RSI Value: 20.29
- TWIN Price Action: Shares of Twin Disc fell 10.5% to close at $11.90 on Friday.
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