Global Undervalued Small Caps

CellaVision

Market Cap: SEK 3.6b

Develops and sells instruments, software, and reagents for blood and body fluids analysis in Sweden and internationally.

Altea Green Power

Market Cap: €127.8m

Supplies and manages renewable energy plants in Italy and the United States.

Gamma Communications

Market Cap: UK£837.8m

Provides technology-based communications and software services to small, medium, and large-sized organizations in the United Kingdom, rest of Europe, and internationally.

Grupa Pracuj

Market Cap: zł3.3b

Operates HR technology platform in Poland, Ukraine, and Germany.

Iochpe-Maxion

Market Cap: R$1.5b

Produces and sells automotive wheels and structural components for commercial and light vehicles in North America, South America, Europe, Asia, and internationally.

Converge Information and Communications Technology Solutions

Market Cap: ₱112.1b

Converge Information and Communications Technology Solutions, Inc.

Cheerwin Group

Market Cap: HK$3.0b

An investment holding company, manufactures and trades household insecticides and repellents, household cleaning, air care, personal care, pet stores and pet products, and other products in the People’s Republic of China.

Thryv Holdings

Market Cap: US$247.1m

Provides digital marketing solutions and cloud-based tools to the small-to-medium-sized businesses in the United States.

Future

Market Cap: JP¥175.8b

Provides IT consulting and services primarily in Japan.

Zevra Therapeutics

Market Cap: US$469.5m

A commercial-stage company, focuses on addressing unmet needs for the treatment of rare diseases in the United States.

Firan Technology Group

Market Cap: CA$292.3m

Manufactures and sells aerospace and defense electronic products and subsystems in Canada, the United States, and China.

Guangdong Mingyang ElectricLtd

Market Cap: CN¥13.0b

Engages in the research, development, production, and sale of high/low voltage switchgear, transformer, and power transmission and distribution equipment in China.

Tennant

Market Cap: US$1.3b

Designs, manufactures, and markets floor cleaning equipment in the Americas, Europe, the Middle East, Africa, and the Asia Pacific.

Kaufman & Broad

Market Cap: €578.6m

Operates as a property developer and builder in France.

Assetwise

Market Cap: ฿5.4b

Engages in property development and other real estate activities in Thailand.

Construtora Tenda

Market Cap: R$2.8b

Operates as a construction company in Brazil.

Aurelia Metals

Market Cap: AU$431.6m

Engages in the exploration and production of mineral properties in Australia.

Security Bank

Market Cap: ₱50.5b

Provides banking and financial products and services to wholesale and retail clients in the Philippines.

HD Hyundai Construction Equipment

Market Cap: ₩1.6t

HD Hyundai Construction Equipment Co.,Ltd.

Hu Lane Associate

Market Cap: NT$15.1b

Engages in manufacture and sale of terminal devices, terminal crimping, industrial rubber, and plastic products in Taiwan.

Inspur Digital Enterprise Technology

Market Cap: HK$8.5b

An investment holding company, engages in management software development, cloud services, and sale of Internet of Things (IoT) solutions in the People’s Republic of China.

SILICON2

Market Cap: ₩2.5t

Engages in the distribution of cosmetics products worldwide.

Afentra

Market Cap: UK£95.0m

Operates as an upstream oil and gas company primarily in Africa.

Grupo SBF

Market Cap: R$2.7b

Grupo SBF S.A. retails and wholesales sports and leisure products in Brazil.

J.Jill

Market Cap: US$208.4m

Operates as an omnichannel retailer for women’s apparel in the United States.

Heidelberger Druckmaschinen

Market Cap: €623.9m

Manufactures, sells, and deals in printing presses and other print media industry products in Europe, the Middle East, Africa, the Asia Pacific, and the Americas.

Italian Exhibition Group

Market Cap: €267.0m

Italian Exhibition Group S.p.A. organizes and operates exhibitions Italy and internationally.

Voxel

Market Cap: zł1.3b

Provides medical services in Poland.

Byrna Technologies

Market Cap: US$380.0m

A less-lethal self-defense technology company, develops, manufactures, and sells less-lethal personal security solutions in the United States, South Africa, Europe, South America, Asia, and Canada.

Aviat Networks

Market Cap: US$277.3m

Provides microwave networking and wireless access networking solutions in North America, Africa, the Middle East, Europe, Latin America, and the Asia Pacific.

Telecom Plus

Market Cap: UK£1.1b

Provides utility services in the United Kingdom.

Visco Vision

Market Cap: NT$11.0b

Manufactures and sells silicone hydrogel contact lenses in Asia, Europe, and the Americas.

British American Tobacco Bangladesh

Market Cap: ৳135.5b

Manufactures and sells cigarettes in Bangladesh.

Leejam Sports

Market Cap: ر.س5.3b

Operates sports and fitness centers in the Kingdom of Saudi Arabia and the United Arab Emirates.

Consun Pharmaceutical Group

Market Cap: HK$13.1b

Researches and develops, manufactures, and sells Chinese medicines and medical contrast medium products in the People’s Republic of China.

Tracsis

Market Cap: UK£92.2m

Engages in the provision of software, hardware, data analytics and geographic information systems, and services in the United Kingdom, Ireland, rest of Europe, Europe, North America, and internationally.