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.

Ouster Inc (NYSE:OUST)

• On Aug. 13, Ouster reported worse-than-expected second-quarter sales results and issued third-quarter revenue guidance below estimates. "Our second quarter results showcase solid execution with GAAP gross margin increasing to 34%. Consistent with Ouster's strategy of expanding into software solutions, we had one of our best quarters for software-attached sales powered by Ouster Gemini and Blue City. Alongside the continued improvement in our operating results, we have built one of the industry's most resilient balance sheets and diversified business models," said Ouster CEO Angus Pacala. The company's stock fell around 45% over the past month and has a 52-week low of $3.67.
• RSI Value: 28.96
• OUST Price Action: Shares of Ouster fell 2% to close at $7.85 on Monday.
• Benzinga Pro's real-time newsfeed alerted to latest OUST news.

Smith Micro Software Inc (NASDAQ:SMSI)

• On Aug. 1, Smith Micro Software reported worse-than-expected second-quarter financial results. "With the commercial launch of Boost Family Guard during the second quarter, our continued progress towards the upcoming launch of a SafePath-based Family Safety solution with a tier one carrier in Europe, and our cost reduction initiatives, we believe we are making progress toward a return to growth, profitability and free cash flow," said William W. Smith Jr., president, chief executive officer, and chairman of the board of Smith Micro. The company's stock fell around 64% over the past month. It has a 52-week low of $0.77.
• RSI Value: 19.79
• SMSI Price Action: Shares of Smith Micro Software fell 3.2% to close at $0.81 on Monday.
• Benzinga Pro's charting tool helped identify the trend in SMSI stock.

8×8 Inc (NASDAQ:EGHT)

• On Aug. 7, 8×8 reported worse-than-expected first-quarter financial results. Additionally, the company cut its FY25 revenue guidance and issued second-quarter revenue guidance below estimates. The company's shares fell around 44% over the past month and has a 52-week low of $1.52.
• RSI Value: 29.48
• EGHT Price Action: Shares of 8×8 rose 2.4% to close at $1.73 on Monday.
• Benzinga Pro's signals feature notified of a potential breakout in EGHT shares.

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