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.

Austevoll Seafood

Market Cap: NOK 18.0b

A seafood company, produces and sells salmon and trout, whitefish, and pelagic in Norway, the European Union, the United Kingdom, Eastern Europe, Africa, North America, Asia, and South America.

Altea Green Power

Market Cap: €122.2m

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

Austriacard Holdings

Market Cap: €200.9m

Operates as a technology company in the fields of people, authentication of object, and information management in Western Europe, Nordics, the Americas, Central and Eastern Europe, Germany, Austria, Switzerland, Türkiye, the Middle East, and Africa.

Gamma Communications

Market Cap: UK£846.1m

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

Kaufman & Broad

Market Cap: €569.7m

Operates as a property developer and builder in France.

Aurelia Metals

Market Cap: AU$414.7m

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

KH Neochem

Market Cap: JP¥87.6b

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

Thryv Holdings

Market Cap: US$268.9m

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

Future

Market Cap: JP¥172.2b

Provides IT consulting and services primarily in Japan.

Guangdong Mingyang ElectricLtd

Market Cap: CN¥13.6b

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

Converge Information and Communications Technology Solutions

Market Cap: ₱104.0b

Converge Information and Communications Technology Solutions, Inc.

SILICON2

Market Cap: ₩2.6t

Engages in the distribution of cosmetics products worldwide.

Security Bank

Market Cap: ₱50.8b

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

Inspur Digital Enterprise Technology

Market Cap: HK$7.8b

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.

Firan Technology Group

Market Cap: CA$276.7m

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

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.

Zevra Therapeutics

Market Cap: US$475.7m

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

Assetwise

Market Cap: ฿5.4b

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

British American Tobacco Bangladesh

Market Cap: ৳135.1b

Manufactures and sells cigarettes in Bangladesh.

Telecom Plus

Market Cap: UK£1.1b

Provides utility services in the United Kingdom.

Heidelberger Druckmaschinen

Market Cap: €581.3m

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.

Palfinger

Market Cap: €1.2b

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

Afentra

Market Cap: UK£90.7m

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

Italian Exhibition Group

Market Cap: €250.5m

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

Voxel

Market Cap: zł1.3b

Provides medical services in Poland.

Grupo SBF

Market Cap: R$2.8b

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

Aviat Networks

Market Cap: US$271.4m

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

Byrna Technologies

Market Cap: US$431.8m

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£202.6m

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.

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.

Auto Partner

Market Cap: zł2.2b

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

Ion Beam Applications

Market Cap: €324.9m

Designs, produces, and markets solutions for cancer diagnosis and treatments in Belgium, the United States, and internationally.

Tracsis

Market Cap: UK£95.9m

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.

Rank Group

Market Cap: UK£511.9m

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