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.
Nxu, Inc. (NASDAQ:NXU)
- On Nov. 13, Nxu posted a third-quarter loss of 22 cents per share. "We successfully launched our Nxu One Megawatt+ Charging System in the third quarter, delivering the superior, powerful EV charging experience customers want and need. This was a pivotal quarter for us, transitioning from a development company to a revenue-generating company offering innovative products in pursuit of an electrified future," said Nxu Founder, Chairman and CEO Mark Hanchett. The company's stock fell around 30% over the past month and has a 52-week low of $0.0180 .
- RSI Value: 26.36
- NXU Price Action: Shares of Nxu gained 2.9% to close at $0.0211 on Friday.
Nauticus Robotics, Inc. (NASDAQ:KITT)
- On Oct. 3, Nauticus Robotics disclosed a deal to acquire 3D at Depth, Inc. for about $34 million in stock, before certain purchase price adjustments and the assumption of debt of around $4.1 million. The company's stock fell more than 33% over the past five days. It has a 52-week low of $1.02.
- RSI Value: 24.32
- KITT Price Action: Shares of Nauticus Robotics fell 18.5% to close at $1.10 on Friday.
Fathom Digital Manufacturing Corporation (NYSE:FATH)
- On Nov. 27, Fathom Digital Manufacturing received non-binding acquisition proposal from CORE Industrial Partners, to acquire all of the company's shares of Class A and B common stock that they do not already own for $4.50 per share in cash. The company's stock fell more than 18% over the past month and has a 52-week low of $2.9930.
- RSI Value: 25.70
- FATH Price Action: Shares of Fathom Digital Manufacturing rose slightly to close at $4.3501 on Friday.
Polar Power, Inc. (NASDAQ:POLA)
- On Dec. 1, Polar Power set the price for its public offering of 4 million shares of common stock at $0.40 per share, aiming to generate $1.6 million in gross proceeds. The company's shares lost around 41% over the past five days. The company's 52-week low is $0.4050.
- RSI Value: 22.96
- POLA Price Action: Shares of Polar Power fell 46.3% to close at $0.4550 on Friday.
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