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The following is a list of oversold stocks, as determined by the Relative Strength, or RSI(14), indicator. All of the stocks in this list have RSI(14) values below 40, which usually signal oversold conditions.

In addition, all of the stocks mentioned below have seen worsening analyst sentiment over the past three months. Analyst ratings are presented on a linear scale, where ratings close to 1 indicate "Strong Buy" while ratings close to 5 indicate "Strong Sell". All of the stocks in this list have seen their ratings move closer towards 5 over the last 3 months, i.e. worsening analyst sentiment.

If you're a contrarian, this excessive pessimism might raise a flag. Full analysis below.

Analyst ratings sourced from Reuters, short float data sourced from Fiviz.

Interactive Chart: Press Play to see an interactive visualization of monthly returns and market cap for all stocks mentioned below.

The list has been sorted by change in analyst ratings.

1. Cogent Inc. (COGT): Business Software & Services Industry. Market cap of $932.82M. RSI(14) at 37.82. Analyst rating has increased from 1.86 to 2.67 over the last three months. Short float at 4.52%, which implies a short ratio of 1.19 days. The stock has gained 15.51% over the last year.

2. Tellabs Inc. (TLAB): Communication Equipment Industry. Market cap of $2.51B. RSI(14) at 37.95. Analyst rating has increased from 2.06 to 2.79 over the last three months. Short float at 7.94%, which implies a short ratio of 3.6 days. The stock has gained 11.66% over the last year.

3. Chiquita Brands International Inc. (CQB): Farm Products Industry. Market cap of $551.82M. RSI(14) at 35.51. Analyst rating has increased from 1.5 to 2 over the last three months. Short float at 14.71%, which implies a short ratio of 14.12 days. The stock has lost -29.89% over the last year.

4. Oclaro, Inc. (OCLR): Semiconductor Equipment & Materials Industry. Market cap of $493.12M. RSI(14) at 32.48. Analyst rating has increased from 1.62 to 2.14 over the last three months. Short float at 8.36%, which implies a short ratio of 3.11 days. The stock has gained 73.22% over the last year.

5. Service Corp. International (SCI): Personal Services Industry. Market cap of $2.B. RSI(14) at 38.45. Analyst rating has increased from 1.25 to 1.6 over the last three months. Short float at 2.83%, which implies a short ratio of 9.65 days. The stock has gained 10.53% over the last year.

6. NuVasive, Inc. (NUVA): Medical Instruments & Supplies Industry. Market cap of $945.12M. RSI(14) at 23.62. Analyst rating has increased from 2.04 to 2.61 over the last three months. Short float at 20.27%, which implies a short ratio of 7.81 days. The stock has lost -35.05% over the last year.

7. Navigant Consulting Inc. (NCI): Management Services Industry. Market cap of $445.39M. RSI(14) at 23.1. Analyst rating has increased from 1.88 to 2.38 over the last three months. Short float at 3.58%, which implies a short ratio of 5.1 days. The stock has lost -39.69% over the last year.

8. Amylin Pharmaceuticals, Inc. (AMLN): Biotechnology Industry. Market cap of $1.92B. RSI(14) at 32.9. Analyst rating has increased from 2.38 to 3 over the last three months. Short float at 11.22%, which implies a short ratio of 5.7 days. The stock has gained 10.6% over the last year.

Disclosure: No positions

Source: 8 Oversold Stocks With Worsening Analyst Sentiment