• Markets
• News
• Learn

The most oversold stocks in the utilities 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.

Sunnova Energy International Inc (NYSE:NOVA)

• On April 11, Sunnova announced appointment of two independent directors. The company's stock fell around 44% over the past month and has a 52-week low of $0.18.
• RSI Value: 22.4
• NOVA Price Action: Shares of Sunnova Energy fell 18.3% to close at $0.19 on Wednesday.
• Edge Stock Ratings: 0.61 Momentum score with Value at 87.80.

Pure Cycle Corp (NASDAQ:PCYO)        

• On April 9, the company said revenues for the three and six months ended February 28, came in at $4.0 million and $9.7 million. “Despite typical winter slowdowns, Pure Cycle maintained positive net income in the quarter, leveraging its robust balance sheet and diversified asset portfolio. Our earnings showcased the strength of our oil and gas royalty portfolio through our royalty income and the strength of our water and wastewater infrastructure through our water and wastewater tap sales. We continue to see strong demand for our entry-level housing at Sky Ranch as we expand development across multiple subphases,” stated Marc Spezialy, CFO of Pure Cycle. The company's stock fell around 7% over the past month and has a 52-week low of $8.94.
• RSI Value: 19.7
• PCYO Price Action: Shares of Pure Cycle fell 0.1% to close at $10.00 on Wednesday.
• Benzinga Pro’s charting tool helped identify the trend in PCYO stock.

Learn more about BZ Edge Rankings—click to see scores for other stocks in the sector and see how they compare.

Read This Next:

• Top 3 Industrials Stocks That May Plunge This Month

Photo via Shutterstock