Opportunity Knocks: Oversold Consumer Staples Stocks to Watch

Finding good investments can be challenging, but the consumer staples sector has some stocks that are currently trading at low prices. This situation may allow investors to buy undervalued companies.

One useful tool for traders is the Relative Strength Index (RSI), a momentum indicator. This tool compares the price strength of a stock on days it’s going up against days it’s going down. A stock is generally considered oversold if its RSI is below 30, according to insights from Benzinga Pro.

Below is a list of notable oversold stocks in the consumer staples sector, each with an RSI close to or below the critical level of 30.

Beyond Meat Inc BYND

• On Nov. 6, Beyond Meat updated its revenue forecast for FY24 and announced plans to sell common stock for up to $20 million. Over the last month, the company saw its stock price drop roughly 26%, hitting a 52-week low of $3.86.
• RSI Value: 23.53
• BYND Price Action: The stock fell by 2.6%, closing at $3.91 on Thursday.
• Real-time news from Benzinga Pro provided updates on BYND’s situation.

Benson Hill Inc BHIL

• On Nov. 12, Benson Hill reported a third-quarter GAAP loss of $4.14 per share, which was worse than the predicted loss of $3.11 per share. The stock has seen a steep decline of about 66% in the past month, reaching a 52-week low of $2.20.
• RSI Value: 17.69
• BHIL Price Action: The shares dropped 9.8%, closing at $2.21 on Thursday.
• Benzinga Pro’s charting tool was instrumental in tracking the trend of BHIL’s stock.

Sow Good Inc SOWG

• On Nov. 14, Sow Good announced third-quarter financial results that fell short of expectations. CEO Claudia Goldfarb stated, “We are pleased to announce that our sixth freeze dryer is operational and that we were able to resume shipments in October,” following a pause due to quality issues during the hot summer. The stock decreased by around 72% in the last month, with a 52-week low of $2.66.
• RSI Value: 16.02
• SOWG Price Action: The shares fell by 3.9%, closing at $2.70 on Thursday.
• Benzinga Pro’s features indicated a potential breakout for SOWG shares.

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