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.
Himalaya Shipping Ltd (NYSE:HSHP)
- The company's stock fell around 17% over the past five days and has a 52-week low of $5.45.
- RSI Value: 24.93
- HSHP Price Action: Shares of Himalaya Shipping fell 5.9% to close at $5.54 on Wednesday.
- Benzinga Pro's real-time newsfeed alerted to latest HSHP news.
Star Bulk Carriers Corp (NASDAQ:SBLK)
- On Nov. 19, Star Bulk Carriers posted downbeat quarterly earnings. The company's stock fell around 14% over the past month and has a 52-week low of $16.78.
- RSI Value: 23.02
- SBLK Price Action: Shares of Star Bulk Carriers fell 2.1% to close at $16.86 on Wednesday.
- Benzinga Pro’s charting tool helped identify the trend in SBLK stock.
Pyxis Tankers Inc (NASDAQ:PXS)
- On Nov. 22, Pyxis Tankers reported quarterly earnings of 31 cents per share, up from 26 cents per share from the same period last year. Valentios Valentis, our Chairman and Chief Executive Officer, commented, “We are pleased to report solid results for the third fiscal quarter of 2024 with revenues, net of $13.8 million and net income attributable to common shareholders of $3.6 million with basic earnings per share of $0.34 basic and $0.31 diluted. In the quarter ended September 30, 2024, the product tanker sector continued to experience a healthy chartering environment driven by global demand for transportation fuels, tight inventories of many petroleum products, supportive refinery activity, combined with the significant effects of the ongoing conflicts in Ukraine and the Middle East which has led to continued market dislocation of shifting trade patterns and ton-mile expansion of seaborne cargo transportation." The company's stock fell around 15% over the past month and has a 52-week low of $3.62.
- RSI Value: 26.11
- PXS Price Action: Shares of Pyxis Tankers fell 2.4% to close at $3.71 on Wednesday.
- Benzinga Pro’s signals feature notified of a potential breakout in PXS shares.
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