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.

Ormat Technologies, Inc. (NYSE:ORA)

• On July 16, Barclays analyst David Anderson maintained Ormat Technologies with an Overweight rating and raised the price target from $126 to $127. The company’s stock fell around 17% over the past month and has a 52-week low of $84.13.
• RSI Value: 24.1
• ORA Price Action: Shares of Ormat Technologies fell 4.3% to close at $99.40 on Friday.
• Edge Stock Ratings: 27.93 Momentum score with Value at 53.98.

Spruce Power Holding Corp (NYSE:SPRU)       

• On May 13, Spruce Power Holding posted a first-quarter loss of 16 cents per share, versus a year-ago loss of 84 cents per share. The company’s stock fell around 16% over the past month and has a 52-week low of $1.13.
• RSI Value: 29.9   
• SPRU Price Action: Shares of Spruce Power Holding fell 3.1% to close at $2.17 on Friday.
• Benzinga Pro’s charting tool helped identify the trend in SPRU stock.

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

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Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.