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The following is a list of oversold stocks, as defined by the Relative Strength, or RSI(14), indicator. All of the stocks mentioned below have RSI(14) levels below 40, which usually signals oversold conditions.

Additionally, all of these companies have seen institutional and mutual fund buying over the last two quarters.

The smart money seems to think there's more upside to these names. What do you think? Full details below.

Institutional data sourced from Fidelity, RSI(14) and short float data sourced from Finviz.

Interactive Chart: Press Play to compare changes in analyst ratings over the last two years for the top six stocks mentioned below. Analyst ratings sourced from Zacks Investment Research. Note: The numbers on top of items represent the forward P/E ratio, if available.

The list has been sorted by RSI(14) levels.

1. Micromet, Inc. (NASDAQ:MITI): Biotechnology Industry. Market cap of $507.87M. RSI(14) at 31.33. Net institutional shares purchased during current quarter at 445.4K, vs. 1.5M net purchases during previous quarter. Net mutual fund shares purchased during current quarter at 18.8K, vs. 3.4M purchased in the previous quarter. Short float at 5.39%, which implies a short ratio of 6.42 days. The stock has lost -24.28% over the last year.

2. Ralcorp Holdings Inc. (NYSE:RAH): Processed & Packaged Goods Industry. Market cap of $3.31B. RSI(14) at 32.28. Net institutional shares purchased during current quarter at 2.4M, vs. 807.2K net purchases during previous quarter. Net mutual fund shares purchased during current quarter at 1.4M, vs. 3.0M purchased in the previous quarter. Short float at 3.82%, which implies a short ratio of 4.67 days. The stock has lost -5.79% over the last year.

3. TAM S.A. (NYSE:TAM): Major Airlines Industry. Market cap of $3.35B. RSI(14) at 32.54. Net institutional shares purchased during current quarter at 946.1K, vs. 465.3K net purchases during previous quarter. Net mutual fund shares purchased during current quarter at 744.6K, vs. 2.5M purchased in the previous quarter. Short float at 1.79%, which implies a short ratio of 1.93 days. The stock has gained 27.5% over the last year.

4. PPL Corporation (NYSE:PPL): Electric Utilities Industry. Market cap of $12.11B. RSI(14) at 32.6. Net institutional shares purchased during current quarter at 2.4M, vs. 115.5M net purchases during previous quarter. Net mutual fund shares purchased during current quarter at 560.2K, vs. 19.7M purchased in the previous quarter. Short float at 1.17%, which implies a short ratio of 1.38 days. The stock has lost -8.87% over the last year.

5. Intersil Corporation (NASDAQ:ISIL): Semiconductor Industry. Market cap of $1.65B. RSI(14) at 33.05. Net institutional shares purchased during current quarter at 3.0M, vs. 5.6M net purchases during previous quarter. Net mutual fund shares purchased during current quarter at 21.2K, vs. 2.3M purchased in the previous quarter. Short float at 13.18%, which implies a short ratio of 6.24 days. The stock has lost -1.71% over the last year.

6. USANA Health Sciences Inc. (NYSE:USNA): Drug Related Products Industry. Market cap of $627.46M. RSI(14) at 33.61. Net institutional shares purchased during current quarter at 304.0K, vs. 455.1K net purchases during previous quarter. Net mutual fund shares purchased during current quarter at 52.8K, vs. 394.2K purchased in the previous quarter. Short float at 6.28%, which implies a short ratio of 11.75 days. The stock has gained 49.68% over the last year.

7. Nxstage Medical, Inc. (NASDAQ:NXTM): Medical Appliances & Equipment Industry. Market cap of $1.15B. RSI(14) at 34.23. Net institutional shares purchased during current quarter at 5.2M, vs. 2.4M net purchases during previous quarter. Net mutual fund shares purchased during current quarter at 1.7M, vs. 2.1M purchased in the previous quarter. Short float at 4.46%, which implies a short ratio of 4.47 days. The stock has gained 172.4% over the last year.

8. Jaguar Mining Inc. (JAG): Gold Industry. Market cap of $470.78M. RSI(14) at 35.51. Net institutional shares purchased during current quarter at 6.4M, vs. 5.0M net purchases during previous quarter. Net mutual fund shares purchased during current quarter at 2.3M, vs. 1.8M purchased in the previous quarter. Short float at 6.05%, which implies a short ratio of 3.61 days. The stock has lost -41.69% over the last year.

9. Celgene Corporation (NASDAQ:CELG): Biotechnology Industry. Market cap of $24.14B. RSI(14) at 35.81. Net institutional shares purchased during current quarter at 7.4M, vs. 19.4M net purchases during previous quarter. Net mutual fund shares purchased during current quarter at 3.2M, vs. 4.7M purchased in the previous quarter. Short float at 1.49%, which implies a short ratio of 1.75 days. The stock has lost -8.13% over the last year.

10. Dollar General Corporation (NYSE:DG): Discount, Variety Stores Industry. Market cap of $9.37B. RSI(14) at 36.01. Net institutional shares purchased during current quarter at 12.3M, vs. 21.4M net purchases during previous quarter. Net mutual fund shares purchased during current quarter at 5.0M, vs. 5.7M purchased in the previous quarter. Short float at 3.24%, which implies a short ratio of 6.23 days. The stock has gained 26.53% over the last year.

11. DigitalGlobe, Inc. (NYSE:DGI): Aerospace/Defense Industry. Market cap of $1.38B. RSI(14) at 36.17. Net institutional shares purchased during current quarter at 1.6M, vs. 1.5M net purchases during previous quarter. Net mutual fund shares purchased during current quarter at 1.8M, vs. 3.0M purchased in the previous quarter. Short float at 2.12%, which implies a short ratio of 4.08 days. The stock has gained 31.79% over the last year.

12. New Jersey Resources Corp. (NYSE:NJR): Gas Utilities Industry. Market cap of $1.71B. RSI(14) at 36.36. Net institutional shares purchased during current quarter at 250.4K, vs. 74.7K net purchases during previous quarter. Net mutual fund shares purchased during current quarter at 671.1K, vs. 672.8K purchased in the previous quarter. Short float at 5.56%, which implies a short ratio of 12.62 days. The stock has gained 23.37% over the last year.

13. Westport Innovations Inc. (NASDAQ:WPRT): Pollution & Treatment Controls Industry. Market cap of $618.94M. RSI(14) at 37.19. Net institutional shares purchased during current quarter at 151.7K, vs. 2.3M net purchases during previous quarter. Net mutual fund shares purchased during current quarter at 825.4K, vs. 531.4K purchased in the previous quarter. Short float at 5.61%, which implies a short ratio of 2.79 days. The stock has gained 31.75% over the last year.

14. Cia Energetica de Minas Gerais (NYSE:CIG): Electric Utilities Industry. Market cap of $11.B. RSI(14) at 37.8. Net institutional shares purchased during current quarter at 11.9M, vs. 14.8M net purchases during previous quarter. Net mutual fund shares purchased during current quarter at 1.8M, vs. 2.1M purchased in the previous quarter. Short float at 0.72%, which implies a short ratio of 2.8 days. The stock has gained 8.12% over the last year.

15. hhgregg, Inc. (NYSE:HGG): Electronics Stores Industry. Market cap of $738.65M. RSI(14) at 38.. Net institutional shares purchased during current quarter at 4.7M, vs. 510.1K net purchases during previous quarter. Net mutual fund shares purchased during current quarter at 1.6M, vs. 643.4K purchased in the previous quarter. Short float at 32.47%, which implies a short ratio of 14.62 days. The stock has lost -1.84% over the last year.

16. Momenta Pharmaceuticals Inc. (NASDAQ:MNTA): Biotechnology Industry. Market cap of $635.28M. RSI(14) at 38.08. Net institutional shares purchased during current quarter at 6.5M, vs. 1.0M net purchases during previous quarter. Net mutual fund shares purchased during current quarter at 5.6M, vs. 1.6M purchased in the previous quarter. Short float at 22.93%, which implies a short ratio of 9.82 days. The stock has lost -11.92% over the last year.

17. Grupo Aeroportuario Centro Norte, S.A. de C.V. (NASDAQ:OMAB): Air Services Industry. Market cap of $633.78M. RSI(14) at 38.09. Net institutional shares purchased during current quarter at 916.4K, vs. 455.0K net purchases during previous quarter. Net mutual fund shares purchased during current quarter at 411.4K, vs. 227.7K purchased in the previous quarter. Short float at 0.16%, which implies a short ratio of 1.09 days. The stock has gained 29.44% over the last year.

18. SIGA Technologies, Inc. (NASDAQ:SIGA): Drug Manufacturer. Market cap of $553.84M. RSI(14) at 38.42. Net institutional shares purchased during current quarter at 1.4M, vs. 1.9M net purchases during previous quarter. Net mutual fund shares purchased during current quarter at 666.1K, vs. 1.1M purchased in the previous quarter. Short float at 16.02%, which implies a short ratio of 12.94 days. The stock has gained 93.96% over the last year.

19. Edison International (NYSE:EIX): Electric Utilities Industry. Market cap of $11.97B. RSI(14) at 38.56. Net institutional shares purchased during current quarter at 5.1M, vs. 1.9M net purchases during previous quarter. Net mutual fund shares purchased during current quarter at 6.0M, vs. 2.7M purchased in the previous quarter. Short float at 2.05%, which implies a short ratio of 3.01 days. The stock has gained 17.41% over the last year.

20. CVS Caremark Corporation (NYSE:CVS): Drug Stores Industry. Market cap of $44.39B. RSI(14) at 38.62. Net institutional shares purchased during current quarter at 5.3M, vs. 4.3M net purchases during previous quarter. Net mutual fund shares purchased during current quarter at 7.3M, vs. 32.4M purchased in the previous quarter. Short float at 1.05%, which implies a short ratio of 1.47 days. The stock has gained 6.38% over the last year.

21. Questcor Pharmaceuticals, Inc. (NASDAQ:QCOR): Biotechnology Industry. Market cap of $964.26M. RSI(14) at 38.64. Net institutional shares purchased during current quarter at 6.5M, vs. 3.4M net purchases during previous quarter. Net mutual fund shares purchased during current quarter at 2.5M, vs. 325.2K purchased in the previous quarter. Short float at 13.12%, which implies a short ratio of 9.84 days. The stock has gained 246.98% over the last year.

22. Entropic Communications, Inc. (NASDAQ:ENTR): Semiconductor Industry. Market cap of $900.07M. RSI(14) at 38.94. Net institutional shares purchased during current quarter at 27.8M, vs. 10.9M net purchases during previous quarter. Net mutual fund shares purchased during current quarter at 6.6M, vs. 4.2M purchased in the previous quarter. Short float at 27.98%, which implies a short ratio of 7.06 days. The stock has gained 231.58% over the last year.

23. Viad Corp (NYSE:VVI): Business Services Industry. Market cap of $465.38M. RSI(14) at 39.02. Net institutional shares purchased during current quarter at 38.8K, vs. 874.1K net purchases during previous quarter. Net mutual fund shares purchased during current quarter at 737.7K, vs. 113.8K purchased in the previous quarter. Short float at 1.76%, which implies a short ratio of 4.86 days. The stock has gained 19.18% over the last year.

24. Iridium Communications Inc. (NASDAQ:IRDM): Communication Equipment Industry. Market cap of $559.89M. RSI(14) at 39.11. Net institutional shares purchased during current quarter at 3.7M, vs. 4.4M net purchases during previous quarter. Net mutual fund shares purchased during current quarter at 2.2M, vs. 2.5M purchased in the previous quarter. Short float at 18.6%, which implies a short ratio of 21.07 days. The stock has gained 18.07% over the last year.

25. Southwest Airlines Co. (NYSE:LUV): Regional Airlines Industry. Market cap of $8.76B. RSI(14) at 39.15. Net institutional shares purchased during current quarter at 7.6M, vs. 854.8K net purchases during previous quarter. Net mutual fund shares purchased during current quarter at 12.7M, vs. 8.2M purchased in the previous quarter. Short float at 2.3%, which implies a short ratio of 2.96 days. The stock has gained 3.99% over the last year.

Source: 25 Oversold Stocks Being Chased by Smart Money