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.
Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.
Alto Ingredients, Inc. ALTO
- Alto Ingredients reported worse-than-expected Q4 EPS and sales results. “Alto has been executing a series of growth initiatives to diversify our revenue streams, maximize our high-margin products, and optimize our operations to continue our business transformation,” said Mike Kandris, CEO of Alto Ingredients. The company’s stock has a 52-week low of $1.32.
- RSI Value: 26.68
- ALTO Price Action: Shares of Alto Ingredients rose 1.5% to close at $1.39 on Monday.
ENGlobal Corporation ENG
- ENGlobal recently announced a $3.4 million registered direct offering. The company’s stock has a 52-week low of $0.34.
- RSI Value: 26.53
- ENG Price Action: Shares of ENGlobal gained 5.3% to close at $0.40 on Monday.
Aemetis, Inc. AMTX
- Aemetis posted weaker-than-expected quarterly results. “Revenues for 2022 increased 21% compared to 2021, largely due to price increases in ethanol feed co-products in the United States and demand from oil marketing companies in India,” said Todd Waltz, Chief Financial Officer of Aemetis. The company’s stock has a 52-week low of $1.9850.
- RSI Value: 29.23
- AMTX Price Action: Shares of Aemetis gained 0.5% to close at $2.04 on Monday.
U.S. Energy Corp. USEG
- U.S. Energy recently reported a 24% increase to year-end 2022 proved producing reserves. The company’s 52-week low is $1.35.
- RSI Value: 22.36
- USEG Price Action: Shares of U.S. Energy fell 4.2% to close at $1.36 on Monday.
Gevo, Inc. GEVO
- Gevo recently entered into joint development agreement with Southwest Iowa Renewable Energy to measure, report & verify carbon intensity. The company has a 52-week low of $1.22.
- RSI Value: 28.32
- GEVO Price Action: Shares of Gevo fell 2% to close at $1.25 on Monday.
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