Top 2 Energy Stocks That Could Sink Your Portfolio This Quarter
Portfolio Pulse from Lisa Levin
The article identifies Natural Gas Services Group, Inc. (NYSE:NGS) and Hallador Energy Company (NASDAQ:HNRG) as overbought stocks in the energy sector, suggesting they could negatively impact portfolios this quarter. Both companies recently posted positive Q2 results, but their high Relative Strength Index (RSI) values indicate they may be overvalued.
October 03, 2023 | 11:31 am
News sentiment analysis
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NEGATIVE IMPACT
Hallador Energy Company's stock is considered overbought with an RSI of 70.91, despite better-than-expected Q2 results and a strong balance sheet.
The company's high RSI value suggests it is overbought and may be overvalued, which could lead to a price correction in the short term. Despite strong Q2 results and a de-levered balance sheet, this overvaluation presents a risk to investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Natural Gas Services Group's stock is considered overbought with an RSI of 71.72, despite positive Q2 results and consistent rental revenue growth.
The company's high RSI value suggests it is overbought and may be overvalued, which could lead to a price correction in the short term. Despite positive Q2 results and rental revenue growth, this overvaluation presents a risk to investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100