Global Undervalued Small Caps

CellaVision

Market Cap: SEK 3.9b

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

Altea Green Power

Market Cap: €111.4m

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

Kaufman & Broad

Market Cap: €577.6m

Operates as a property developer and builder in France.

Gamma Communications

Market Cap: UK£860.9m

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

Thryv Holdings

Market Cap: US$249.3m

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

Aurelia Metals

Market Cap: AU$397.8m

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

KH Neochem

Market Cap: JP¥83.0b

Researches, manufactures, and sells of petrochemical products in Japan and internationally.

Propel Holdings

Market Cap: CA$857.1m

Operates as a financial technology company.

Converge Information and Communications Technology Solutions

Market Cap: ₱108.5b

Converge Information and Communications Technology Solutions, Inc.

Zevra Therapeutics

Market Cap: US$487.0m

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$260.0m

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

Security Bank

Market Cap: ₱52.0b

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

Shofu

Market Cap: JP¥65.8b

Manufactures and sells dental materials and equipment worldwide.

FirstSun Capital Bancorp

Market Cap: US$961.0m

Operates as the bank holding company for Sunflower Bank, National Association that provides commercial and consumer banking and financial services to small and medium-sized companies in Texas, Kansas, Colorado, New Mexico, Arizona, California, and Washington.

Guangdong Mingyang ElectricLtd

Market Cap: CN¥13.2b

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

Hu Lane Associate

Market Cap: NT$14.8b

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

Inspur Digital Enterprise Technology

Market Cap: HK$8.4b

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.

British American Tobacco Bangladesh

Market Cap: ৳139.1b

Manufactures and sells cigarettes in Bangladesh.

Palfinger

Market Cap: €1.2b

Produces and sells crane and lifting solutions in Austria and internationally.

Colt CZ Group

Market Cap: Kč40.5b

Engages in the production and sale of firearms, ammunition products, and tactical accessories in the Czech Republic, Canada the United States, rest of Europe, Africa, Asia, and internationally.

Heidelberger Druckmaschinen

Market Cap: €570.9m

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.

Afentra

Market Cap: UK£92.7m

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

Nagarro

Market Cap: €890.3m

Provides digital product engineering and technology solutions in Germany, the United States of America, and internationally.

Aviat Networks

Market Cap: US$276.9m

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

Zhihu

Market Cap: US$312.3m

Operates an online content community in the People’s Republic of China.

Byrna Technologies

Market Cap: US$394.1m

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.

Serabi Gold

Market Cap: UK£185.5m

Engages in the evaluation, exploration, and development of gold and other metals mining projects in Brazil.

Visco Vision

Market Cap: NT$11.1b

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

Windey Energy Technology Group

Market Cap: CN¥13.4b

Researches, develops, manufactures, and sells wind turbines in China.

STI

Market Cap: ₩364.7b

Operates in the semiconductor equipment industry in Korea.

Consun Pharmaceutical Group

Market Cap: HK$12.6b

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

Unidata

Market Cap: €92.1m

Operates as an Internet service provider in Italy.

ASA International Group

Market Cap: UK£175.0m

Operates as a microfinance institution in Asia and Africa.

Rank Group

Market Cap: UK£501.6m

Engages in provision of gaming services in the United Kingdom, Europe, and internationally.

Auto Partner

Market Cap: zł2.1b

Imports and distributes parts for passenger cars, delivery vans, and motorcycles in Poland.

Tracsis

Market Cap: UK£102.6m

Provides software and hardware, data analytics/GIS services for the rail, traffic data, and transportation industries in the United Kingdom, Ireland, rest of Europe, Europe, North America, and internationally.