In this article, we will list the 5 Oversold NASDAQ Stocks to Invest In Right Now. Please visit 10 Oversold NASDAQ Stocks to Invest In Right Now if you’d like to see an extended list and the methodology behind it.
5. Mattel Inc. (NASDAQ:MAT)
Mattel Inc. (NASDAQ:MAT) is one of the 10 oversold NASDAQ stocks to invest in right now.
On June 26, Goldman Sachs reduced its target price for the stock from $18 to $15, which still leads to a 15% upside potential. The firm maintained its Neutral rating on the stock.
Photo by Joshua Mayo on Unsplash
On June 22, Mattel Inc. (NASDAQ:MAT) launched its three latest Hot Wheels collectibles during San Diego Comic-Con. The collection introduces the K-pop Demon Hunters and Stranger Things from Netflix, in addition to Top Gun from Paramount Pictures, using Hot Wheels collectibles that showcase the legacy of the brand.
Targeting modern collectors in this day and age, all three of these launches sit at the convergence of fandom, entertainment, pop culture, and play.
Back on June 17, the company announced that its UNO Social Clubs are garnering global attention, with a U.S. tour covering 5 cities and expansions planned across nine locations globally. These developments follow the success of the inaugural events from last year.
UNO is offering the experience to a large number of participants with unexpected twists, friendly competition, and gameplay interactions. Apart from major cities across the U.S., UNO will launch its inaugural worldwide tour covering Berlin, Barcelona, London, Paris, Rio de Janeiro, Tokyo, Mexico City, Sydney, and Toronto.
Mattel Inc. (NASDAQ:MAT) is characterized as a family entertainment company that designs, produces, and sells toys, games, and play products across different countries. It offers a wide range of products, including Disney Princess, Polly Pocket, KPop Demon Hunters, Hot Wheels RC, and more.
4. Patterson-UTI Energy Inc. (NASDAQ:PTEN)
Patterson-UTI Energy Inc. (NASDAQ:PTEN) is one of the 10 oversold NASDAQ stocks to invest in right now.
On July 8, Charles Minervino from Susquehanna reduced his target price for Patterson-UTI Energy Inc. (NASDAQ:PTEN) from $14 to $12, leading to a revised upside potential of more than 39%. The analyst reiterated his Positive rating on the stock after making adjustments to his model prior to the earnings announcement.
Minervino noted that industry projections have undergone more changes following what he described as the “near-round trip” for commodity prices. Despite uncertainties linked with the U.S.-Iran conflict, he sees the mid-term landscape as favorable enough for the oilfield services segment, which can lead to elevated spending levels in the coming years.
On July 6, Patterson-UTI Energy Inc. (NASDAQ:PTEN) announced that during the month of June, the company recorded an average drilling rig count of 95 across the United States. This translates into an average count of 92 rigs within the U.S. during the three-month period ending in June.
Back on June 16, Stephen Gengaro from Stifel increased the price target on Patterson-UTI Energy Inc. (NASDAQ:PTEN) from $14 to $15, resulting in an adjusted upside potential of over 73%. The analyst kept his Buy rating on the stock.
Gengaro raised his estimates for FY26 and FY27 after the company lifted its projections for second-quarter EBITDA. He believes that higher prices for hydraulic fracturing and ongoing growth in both drilling and completion activity have bolstered the upside.
Patterson-UTI Energy Inc. (NASDAQ:PTEN) offers various services to oil and gas companies, including drilling and completion. The company offers contract and directional drilling, MWD services, fracturing, and also the production of various types of drill bits.
3. Core Scientific Inc. (NASDAQ:CORZ)
Core Scientific Inc. (NASDAQ:CORZ) is one of the 10 oversold NASDAQ stocks to invest in right now.
On June 25, BTIG increased the target price on Core Scientific Inc. (NYSE:CORZ) from $33 to $38, yielding an adjusted upside potential of over 77%. The firm upheld its Buy rating on the stock. According to the firm, rapid power consumption in data centers showed no sign of slowing, as the early stages of a worldwide data center buildout persisted during the second quarter.
Over the coming years, BTIG believes that businesses with quick access to power will have endless possibilities to land AI colocation contracts. With five high-performance computing infrastructure contracts signed by the public firms it tracks in the second quarter, it raised pricing targets throughout the data center infrastructure group, claiming that demand for quick power assets is growing stronger.
Back on June 12, Lucid Capital reinitiated its coverage on Core Scientific Inc. (NYSE:CORZ) with a target price of $40, resulting in an upside potential of almost 87%. The firm also assigned a Buy rating to the stock, making reference to the company’s “second act”, which is a testament to its modular HPC platform.
According to the firm, Core Scientific holds enough cash in hand to cover the equity shortage for the 1GW essential IT load for each of its current and future sites. Moreover, a short-term lease arrangement involving Hunt County eventually mitigates the company’s reliance on a single tenant.
Core Scientific Inc. (NASDAQ:CORZ) is a data center operator that leverages high-density computing solutions for AI and high-density workloads. The company uses purpose-built data centers for mining and also hosts services for third-party clients. Originally engaged in Bitcoin mining, it has gradually pivoted towards larger AI-based revenue streams such as GPU cloud and colocation services.
2. Methanex Corp. (NASDAQ:MEOH)
Methanex Corp. (NASDAQ:MEOH) is one of the 10 oversold NASDAQ stocks to invest in right now.
On July 1, Nelson Ng from RBC Capital decreased the target price for Methanex Corp. (NASDAQ:MEOH) from $70 to $65, which now results in an adjusted upside of more than 43%. The analyst also reiterated a Sector Perform rating for the stock.
Ng noted that easing of U.S.-Iran tensions and the gradual revival of shipping via the Strait of Hormuz will drive methanol prices to a more stable level during the latter half of the year, following a peak during the second quarter. This outlook formed the basis of his downward adjustment to the price target.
Earlier on June 30, Methanex Corp. (NASDAQ:MEOH) announced that it could not finalize a new natural gas agreement for its Titan methanol plant, based in Trinidad and Tobago. As a result, it will begin idling the plant for an indefinite period.
The company revealed that the current natural gas agreement of Titan will expire during the third quarter of this year, and the company will maintain the plant for a possible future restart if conditions improve.
Methanex Corp. (NASDAQ:MEOH) markets its methanol and ammonia products in the chemical and petrochemical industries. It also leases terminal facilities and in-region storage and manages its storage and shipping facilities.
1. Honeywell International Inc. (NASDAQ:HON)
Honeywell International Inc. (NASDAQ:HON) is one of the 10 oversold NASDAQ stocks to invest in right now.
The stock carried a moderately bullish consensus sentiment by the close of play on July 9. It received Buy ratings from 13 of the 18 analysts who provided coverage. Based on a median one-year target price of $387.28, the stock offers around 75% upside potential.
On July 1, Andrew Kaplowitz from Citi reduced the target price on Honeywell International Inc. (NASDAQ:HON) from $269.40 to $260. The analyst maintained a Buy rating on the stock and adjusted the company’s model following the recent spinoff.
Kaplowitz informed investors that Honeywell’s dedicated automation portfolio appears favorably positioned for steadier and more foreseeable revenue growth.
On July 2, PowerBank Corp. (NASDAQ:PBK) disclosed that its northern New York-based ground-mount community solar project, SB-14, has attained commercial operation. The project, which has a capacity of 7.01 MW DC/5 MW AC, was undertaken by PowerBank for Honeywell.
It was part of three shared solar projects with combined capacity amounting to 21 MW DC. It also involved a $41 million procurement, engineering, and construction solutions agreement between the two companies. This is the second project in the portfolio of the company to attain commercial operation, raising the aggregate to 14.02 MW of clean energy.
Honeywell International Inc.(NASDAQ:HON) is involved in building automation, industrial automation, and sustainability services. It delivers various products and solutions related to automation and instrumentation, intelligent energy, and sensing technologies. The company also offers software products for building control and optimization.
While we acknowledge the potential of HON to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than HON and that has 100x upside potential, check out our report about the cheapest AI stock.
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