The most oversold stocks in the materials 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.

Hawkins Inc (NASDAQ:HWKN)

  • On July 29, Hawkins reported worse-than-expected first-quarter EPS results. “Our first quarter was a solid start to the year, highlighted by another quarter of record results in revenue, gross profit, and adjusted EBITDA” said Patrick Hawkins, Chief Executive Officer and President. The company’s stock fell around 14% over the past month and has a 52-week low of $117.98.
  • RSI Value: 28.1
  • HWKN Price Action: Shares of Hawkins fell 0.3% to close at $118.99 on Friday.
  • Edge Stock Ratings: 91.92 Momentum score with Value at 93.51.

Loop Industries Inc (NASDAQ:LOOP)   

  • On July 14, Loop Industries posted downbeat quarterly results. “Our commercial momentum is continuing as we engage in constructive discussions with leading global apparel and consumer brands eager to secure Loop’s virgin-quality polyester,” said Daniel Solomita, Founder and CEO of Loop Industries. “This traction is demonstrated by our recent LOI with a major global apparel brand. Although long-term agreements fall outside their standard procurement practices, they executed this LOI to position themselves to secure a portion of our volume and help work towards their stated objectives of reducing their carbon footprint by increasing the recycled content in their products.” The company’s stock fell around 23% over the past month and has a 52-week low of $0.56.
  • RSI Value: 29.4
  • LOOP Price Action: Shares of Loop Industries fell 4% to close at $0.62 on Friday.
  • Benzinga Pro’s charting tool helped identify the trend in LOOP stock.

Loma Negra Compania Indl Argntna SA-ADR (NYSE:LOMA)

  • On Aug. 6, Loma Negra posted an increase in quarterly EPS and sales results. Sergio Faifman, Loma Negra’s Chief Executive Officer, said, “As we move through the second quarter, industry volumes have not yet fully regained the momentum we were expecting. Performance during the quarter was mainly affected by a weak April, impacted by heavy rains, while May and June trends were more in line with the levels registered a year ago.” The company’s stock fell around 18% over the past month and has a 52-week ow of $7.04.
  • RSI Value: 29.9
  • LOMA Price Action: Shares of LOMA fell 0.1% to close at $9.31 on Friday.
  • Benzinga Pro’s signals feature notified of a potential breakout in LOMA shares.

Learn more about BZ Edge Rankings—click to see scores for other stocks in the sector and see how they compare.

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