Benzinga - by Lisa Levin, Benzinga Editor.
The most oversold stocks in the financial 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.
Block, Inc. (NYSE: SQ)
- Wedbush analyst Nick Setyan reiterated Block with a Neutral and maintained a $70 price target. The company’s stock has a 52-week low of $49.37 .
- RSI Value: 25.11
- SQ Price Action: Shares of Block fell 2.8% to close at $49.80 on Tuesday.
- Blue Foundry Bancorp adopted stock repurchase program to repurchase up to 1.26 million shares, which is 5% of its outstanding common stock. It has a 52-week low of $8.14.
- RSI Value: 26.58
- BLFY Price Action: Shares of Blue Foundry Bancorp fell 0.9% to close at $8.56 on Tuesday.
- Janney Montgomery Scott analyst John Rowan initiated coverage on Atlanticus Holdings with a Neutral rating and announced a price target of $40.. The company’s stock has a 52-week low of $21.65.
- RSI Value: 23.28
- ATLC Price Action: Shares of Atlanticus Holdings fell 2% to close at $29.01 on Tuesday.
- Katapult Holdings posted a narrower-than-expected second-quarter loss. “During the quarter, our team continued to build the foundation for sustainable, profitable growth,” said Orlando Zayas, CEO of Katapult. The company’s 52-week low is $10.00.
- RSI Value: 28.85
- KPLT Price Action: Shares of Katapult Holdings fell 5.6% to close at $11.77 on Tuesday.
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