4 Oversold Tech Stocks Being Sold Off By Hedge Funds

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 |  Includes: ALSK, KZ, NCIT, WBMD
by: Kapitall

If you consider yourself a contrarian investor, here's a list you might like.

We ran a screen on stocks in the tech sector that are technically oversold, with RSI(14) below 40. We then screened these stocks for those with high pessimism from hedge funds, with significant net institutional selling over the current quarter.

‪Interactive Chart: Press Play to compare changes in analyst ratings over the last two years for the stocks mentioned below. Analyst ratings sourced from Zacks Investment Research.‬

Do you think these stocks deserve such high pessimism? Use this list as a starting point for your own analysis.

List sorted alphabetically.

1. Alaska Communications Systems Group Inc. (NASDAQ:ALSK): Provides integrated communications services in the State of Alaska. RSI(14) at 36.2. Net institutional sales in the current quarter at 3.6M shares, which represents about 8.1% of the company's float of 44.44M shares.

2. Kongzhong Corp. (KONG): Provides wireless interactive entertainment, media, and community services to mobile phone users in the People's Republic of China. RSI(14) at 39.37. Net institutional sales in the current quarter at 684.5K shares, which represents about 3.77% of the company's float of 18.17M shares.

3. NCI, Inc. (NASDAQ:NCIT): Provides information technology, engineering, logistics, and professional services and solutions to federal government agencies. RSI(14) at 27.13. Net institutional sales in the current quarter at 433.7K shares, which represents about 5.96% of the company's float of 7.28M shares.

4. WebMD Health Corp. (NASDAQ:WBMD): Provides health information services to consumers, physicians and other healthcare professionals, employers, and health plans through its public and private online portals, mobile platforms, and health-focused publications in the United States. RSI(14) at 39.42. Net institutional sales in the current quarter at 3.3M shares, which represents about 8.15% of the company's float of 40.47M shares.

*Institutional data sourced from Fidelity, all other data sourced from Finviz.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.