Norwegian Undervalued Small Caps

BW Energy

Market Cap: NOK 11.2b

Engages in the exploration and production of oil and gas properties.

Cadeler

Market Cap: NOK 18.6b

Engages in offshore wind farm installation, operations, and maintenance services in Denmark.

AKVA group

Market Cap: NOK 3.1b

Designs, purchases, manufactures, assembles, sells, and installs technology products; and provides rental and consulting services for the aquaculture industry.

Austevoll Seafood

Market Cap: NOK 18.6b

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.

SpareBank 1 Nordmøre

Market Cap: NOK 1.6b

Provides various banking products and services in Norway.

Solstad Offshore

Market Cap: NOK 4.0b

Owns and operates offshore service vessels.

Cambi

Market Cap: NOK 2.8b

Provides thermal hydrolysis solutions for sewage sludge and organic waste management in Europe, the Americas, Asia, Africa, and Oceania.

Photocure

Market Cap: NOK 2.0b

Engages in the research, development, production, distribution, marketing, and sale of pharmaceutical products.

Multiconsult

Market Cap: NOK 4.6b

Engages in the provision of engineering design, consultancy, and architecture services in Norway, Sweden, Denmark, Poland, and internationally.

Atea

Market Cap: NOK 17.6b

Provides IT infrastructure and related solutions for businesses and public sector organizations in the Nordic countries and Baltic regions.

Bouvet

Market Cap: NOK 6.0b

Provides IT and digital communication consultancy services for public and private sectors in Norway, Sweden, and internationally.