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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.

In addition, all of these companies have seen significant mutual fund buying over the last two quarters months.

Given the low RSI(14) levels and the mutual fund interest in these names, is this the right time for you to get in? Are these stocks undervalued? Full details below.

Mutual fund flows 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 the RSI(14) level.

1. hhgregg, Inc. (HGG): Electronics Stores Industry. Market cap of $589.3M. RSI(14) at 17.49. Net mutual fund shares purchased during current quarter at 1.2M, vs. 465.7K net purchases during previous quarter. Short float at 27.08%, which implies a short ratio of 10.78 days. The stock has lost -30.13% over the last year.

2. Par Pharmaceutical Companies Inc. (PRX): Drugs Industry. Market cap of $1.1B. RSI(14) at 19.16. Net mutual fund shares purchased during current quarter at 971.2K, vs. 433.0K net purchases during previous quarter. Short float at 3.5%, which implies a short ratio of 4.72 days. The stock has gained 23.08% over the last year.

3. Orbitz Worldwide, Inc. (OWW): General Entertainment Industry. Market cap of $361.15M. RSI(14) at 20.06. Net mutual fund shares purchased during current quarter at 1.3M, vs. 798.4K net purchases during previous quarter. Short float at 1.89%, which implies a short ratio of 5.65 days. The stock has lost -46.43% over the last year.

4. Dolby Laboratories Inc. (DLB): Diversified Electronics Industry. Market cap of $5.67B. RSI(14) at 20.33. Net mutual fund shares purchased during current quarter at 1.4M, vs. 706.6K net purchases during previous quarter. Short float at 4.39%, which implies a short ratio of 3.32 days. The stock has lost -7.79% over the last year.

5. Verisk Analytics, Inc. (VRSK): Business Services Industry. Market cap of $5.57B. RSI(14) at 21.53. Net mutual fund shares purchased during current quarter at 901.7K, vs. 2.5M net purchases during previous quarter. Short float at 0.2%, which implies a short ratio of 0.39 days. The stock has gained 13.91% over the last year.

6. Longtop Financial Technologies Limited (LFT): Business Software & Services Industry. Market cap of $1.65B. RSI(14) at 22.7. Net mutual fund shares purchased during current quarter at 1.3M, vs. 95.7K net purchases during previous quarter. Short float at 13.73%, which implies a short ratio of 10.09 days. The stock has lost -13.88% over the last year.

7. OfficeMax Inc. (OMX): Specialty Retail Industry. Market cap of $1.17B. RSI(14) at 25.7. Net mutual fund shares purchased during current quarter at 1.2M, vs. 1.8M net purchases during previous quarter. Short float at 8.84%, which implies a short ratio of 4.03 days. The stock has lost -17.38% over the last year.

8. Tower Group Inc. (TWGP): Property & Casualty Insurance Industry. Market cap of $1.13B. RSI(14) at 25.98. Net mutual fund shares purchased during current quarter at 1.0M, vs. 718.7K net purchases during previous quarter. Short float at 10.4%, which implies a short ratio of 16.3 days. The stock has gained 28.69% over the last year.

9. Salix Pharmaceuticals Ltd. (SLXP): Drugs Industry. Market cap of $1.93B. RSI(14) at 26.61. Net mutual fund shares purchased during current quarter at 802.3K, vs. 1.2M net purchases during previous quarter. Short float at 10.9%, which implies a short ratio of 5.59 days. The stock has gained 11.99% over the last year.

10. Lumber Liquidators Holdings, Inc. (LL): Home Improvement Stores Industry. Market cap of $642.76M. RSI(14) at 26.64. Net mutual fund shares purchased during current quarter at 1.1M, vs. 2.9M net purchases during previous quarter. Short float at 23.02%, which implies a short ratio of 16.07 days. The stock has gained 1.84% over the last year.

11. FTI Consulting, Inc. (FCN): Management Services Industry. Market cap of $1.53B. RSI(14) at 27.06. Net mutual fund shares purchased during current quarter at 764.8K, vs. 243.7K net purchases during previous quarter. Short float at 7%, which implies a short ratio of 7.5 days. The stock has lost -9.99% over the last year.

12. American International Group, Inc. (AIG): Property & Casualty Insurance Industry. Market cap of $24.91B. RSI(14) at 27.27. Net mutual fund shares purchased during current quarter at 8.3M, vs. 1.2M net purchases during previous quarter. Short float at 10.89%, which implies a short ratio of 2.45 days. The stock has gained 71.57% over the last year.

13. Western Digital Corp. (WDC): Data Storage Devices Industry. Market cap of $7.08B. RSI(14) at 27.33. Net mutual fund shares purchased during current quarter at 3.1M, vs. 1.5M net purchases during previous quarter. Short float at 2.93%, which implies a short ratio of 1.61 days. The stock has lost -24.46% over the last year.

14. Questcor Pharmaceuticals, Inc. (QCOR): Biotechnology Industry. Market cap of $809.22M. RSI(14) at 27.55. Net mutual fund shares purchased during current quarter at 1.4M, vs. 1.1M net purchases during previous quarter. Short float at 17.76%, which implies a short ratio of 9.67 days. The stock has gained 170.56% over the last year.

15. Frontier Communications Corporation (FTR): Telecom Services Industry. Market cap of $8.44B. RSI(14) at 28.24. Net mutual fund shares purchased during current quarter at 1.4M, vs. 25.9M net purchases during previous quarter. Short float at 4.68%, which implies a short ratio of 4.77 days. The stock has gained 21.98% over the last year.

16. UTi Worldwide Inc. (UTIW): Air Delivery & Freight Services Industry. Market cap of $2.03B. RSI(14) at 28.74. Net mutual fund shares purchased during current quarter at 2.4M, vs. 384.9K net purchases during previous quarter. Short float at 1.59%, which implies a short ratio of 3.74 days. The stock has gained 31.53% over the last year.

17. Nektar Therapeutics (NKTR): Biotechnology Industry. Market cap of $904.62M. RSI(14) at 28.79. Net mutual fund shares purchased during current quarter at 704.2K, vs. 972.7K net purchases during previous quarter. Short float at 8.55%, which implies a short ratio of 8.62 days. The stock has lost -24.9% over the last year.

18. Entropic Communications, Inc. (ENTR): Semiconductor Industry. Market cap of $790.06M. RSI(14) at 29.35. Net mutual fund shares purchased during current quarter at 4.5M, vs. 2.6M net purchases during previous quarter. Short float at 33.74%, which implies a short ratio of 7.54 days. The stock has gained 138.66% over the last year.

19. US Airways Group, Inc. (LCC): Major Airlines Industry. Market cap of $1.39B. RSI(14) at 29.36. Net mutual fund shares purchased during current quarter at 3.9M, vs. 2.0M net purchases during previous quarter. Short float at 13.58%, which implies a short ratio of 3.28 days. The stock has gained 11.96% over the last year.

20. Sequenom Inc. (SQNM): Biotechnology Industry. Market cap of $468.67M. RSI(14) at 29.39. Net mutual fund shares purchased during current quarter at 1.2M, vs. 2.4M net purchases during previous quarter. Short float at 23.31%, which implies a short ratio of 6.66 days. The stock has lost -11.27% over the last year.

21. KIT digital, Inc. (OTC:KITD): Entertainment Industry. Market cap of $311.22M. RSI(14) at 29.97. Net mutual fund shares purchased during current quarter at 2.4M, vs. 2.2M net purchases during previous quarter. Short float at 23.87%, which implies a short ratio of 20.16 days. The stock has gained 30% over the last year.

22. Quantum Corp. (QTM): Data Storage Devices Industry. Market cap of $583.79M. RSI(14) at 30.1. Net mutual fund shares purchased during current quarter at 8.4M, vs. 17.2M net purchases during previous quarter. Short float at 6.78%, which implies a short ratio of 3.4 days. The stock has gained 7.92% over the last year.

23. Satcon Technology Corporation (SATC): Semiconductor Circuits Industry. Market cap of $425.12M. RSI(14) at 31.17. Net mutual fund shares purchased during current quarter at 3.2M, vs. 3.5M net purchases during previous quarter. Short float at 12.02%, which implies a short ratio of 5.59 days. The stock has gained 48.57% over the last year.

24. BE Aerospace Inc. (BEAV): Aerospace/Defense Products & Services Industry. Market cap of $3.45B. RSI(14) at 31.47. Net mutual fund shares purchased during current quarter at 733.6K, vs. 534.5K net purchases during previous quarter. Short float at 1.11%, which implies a short ratio of 1.34 days. The stock has gained 24.66% over the last year.

25. Incyte Corporation (INCY): Biotechnology Industry. Market cap of $1.69B. RSI(14) at 31.6. Net mutual fund shares purchased during current quarter at 2.0M, vs. 231.6K net purchases during previous quarter. Short float at 11.45%, which implies a short ratio of 8.42 days. The stock has gained 18.96% over the last year.

26. AerCap Holdings N.V. (AER): Rental & Leasing Services Industry. Market cap of $2.03B. RSI(14) at 31.61. Net mutual fund shares purchased during current quarter at 2.1M, vs. 1.5M net purchases during previous quarter. Short float at 0.31%, which implies a short ratio of 1 days. The stock has gained 37.49% over the last year.

27. Lance, Inc. (LNCE): Processed & Packaged Goods Industry. Market cap of $591.6M. RSI(14) at 33.08. Net mutual fund shares purchased during current quarter at 591.7K, vs. 447.4K net purchases during previous quarter. Short float at 1.48%, which implies a short ratio of 3.38 days. The stock has lost -14.34% over the last year.

28. Woori Finance Holdings Co. Ltd. (WF): Foreign Regional Banks Industry. Market cap of $9.85B. RSI(14) at 33.7. Net mutual fund shares purchased during current quarter at 564.7K, vs. 131.6K net purchases during previous quarter. Short float at 0.03%, which implies a short ratio of 0.95 days. The stock has gained 6.78% over the last year.

29. Chesapeake Lodging Trust (CHSP): REIT. Market cap of $346.15M. RSI(14) at 34.01. Net mutual fund shares purchased during current quarter at 1.6M, vs. 531.2K net purchases during previous quarter. Short float at 2.1%, which implies a short ratio of 3.48 days. The stock has lost -4.07% over the last year.

30. Ancestry.com Inc. (ACOM): Internet Information Providers Industry. Market cap of $1.51B. RSI(14) at 38.26. Net mutual fund shares purchased during current quarter at 970.6K, vs. 995.6K net purchases during previous quarter. Short float at 5.12%, which implies a short ratio of 4.54 days. The stock has gained 98.31% over the last year.

Source: 30 Oversold Stocks Being Snapped Up by Mutual Funds