Benzinga - by Avi Kapoor, Benzinga Staff Writer.
The most oversold stocks in the information technology 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, according to Benzinga Pro.
Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.
Comtech Telecommunications Corp. (NASDAQ: CMTL)
- On Dec. 7, Comtech Telecom reported mixed first-quarter financial results. The company’s stock fell around 38% over the past month and has a 52-week low of $7.26 .
- RSI Value: 26.21
- CMTL Price Action: Shares of Comtech Telecommunications gained 0.8% to close at $7.66 on Tuesday.
- On Dec. 18, reAlpha Tech signed a Letter of Intent to acquire United Software Group, an Ohio-based privately-held IT consulting company. The company’s stock fell around 68% over the past month. It has a 52-week low of $2.00.
- RSI Value: 3.25
- AIRE Price Action: Shares of reAlpha Tech rose 0.7% to close at $2.3150 on Tuesday.
- On Oct. 4, CalAmp reported a second-quarter revenue miss. “CalAmp generated positive Cash Flow from Operations of $7.1 million and achieved strong Adjusted EBITDA of $5.9 million in the quarter as a result of our continued commitment to cost efficiencies. Consolidated revenue in the quarter was softer than expected as shipments of Telematics Products to our TSP and Channel customers slowed,” said Interim CEO, Jason Cohenour. The company’s stock fell around 45% over the past month and has a 52-week low of $0.1954.
- RSI Value: 24.31
- CAMP Price Action: Shares of CalAmp fell 24.2% to close at $0.2040 on Tuesday.
- On Dec. 18, representatives of Continental informed the company that it intends to discontinue the parties' joint lidar development program, which includes further development of the HRL131 lidar product line. The company’s shares lost around 41% over the past five days. The company’s 52-week low is $0.0613.
- RSI Value: 13.38
- LIDR Price Action: Shares of AEye fell 30.3% to close at $0.0704 on Tuesday.
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