Top 3 Utilities Stocks That Could Blast Off In Q3

Author: Lisa Levin | August 28, 2023 08:42am

The most oversold stocks in the utilities 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.

Unitil Corporation (NYSE:UTL)

• Unitil posted weaker-than-expected quarterly earnings. “We are pleased with our solid second quarter and year-to-date results which reflect the Company’s disciplined approach to cost management,” said Thomas P. Meissner, Jr., Unitil’s Chairman and Chief Executive Officer. The company’s stock has a 52-week low of $44.67 .
• RSI Value: 28.08
• UTL Price Action: Shares of Unitil fell 0.5% to close at $47.11 on Friday.

Pure Cycle Corporation (NASDAQ:PCYO)

• Pure Cycle Corporation named Marc Spezialy as new Chief Financial Officer. CEO/President Mark Harding commented "We would like to thank our outgoing CFO Kevin McNeill for his service and express our best wishes to Mr. McNeill as he pursues other interests. Additionally, we are excited to welcome Marc to Pure Cycle who brings more than 19 years of accounting and finance experience." It has a 52-week low of $7.77.
• RSI Value: 27.82
• PCYO Price Action: Shares of Pure Cycle fell 1.8% to close at $11.16 on Friday.

Hawaiian Electric Industries, Inc. (NYSE:HE)

• Hawaiian Electric Industries shares traded lower on Friday after Maui County filed a lawsuit against the company alleging a role in the Lahaina wildfires. The company also suspended its quarterly cash dividend on common stock. The company’s stock has a 52-week low of $9.06.
• RSI Value: 9.68
• HE Price Action: Shares of Hawaiian Electric Industries fell 18.6% to close at $9.66 on Friday.

 

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Posted In: HE PCYO UTL