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.
Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE:HASI)
- Morgan Stanley maintained an Equal-Weight rating on the stock but lowered its price target from $26 to $23. The company’s stock has a 52-week low of $15.37 .
- RSI Value: 26.13
- HASI Price Action: Shares of Hannon Armstrong Sustainable Infrastructure Capital fell 6.6% to close at $15.42 on Wednesday.
AssetMark Financial Holdings, Inc. (NYSE:AMK)
Western Asset Mortgage Capital Corporation (NYSE:WMC)
- Western Asset Mortgage Capital announced that its Board of Directors has declared a cash dividend of $0.35 per share for the third quarter of 2023. The company’s stock has a 52-week low of $7.00.
- RSI Value: 27.31
- WMC Price Action: Shares of Western Asset Mortgage Capital fell 1.1% to close at $8.46 on Wednesday.
Walker & Dunlop, Inc. (NYSE:WD)
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