Global Undervalued Small Caps

Austriacard Holdings

Market Cap: €178.1m

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.

Kaufman & Broad

Market Cap: €575.6m

Operates as a property developer and builder in France.

AKVA group

Market Cap: NOK 3.5b

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

Tristel

Market Cap: UK£174.3m

Develops, manufactures, and sells infection prevention products in the United Kingdom, Australia, Germany, Western Europe, and internationally.

Hu Lane Associate

Market Cap: NT$15.9b

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

PORR

Market Cap: €1.1b

Operates as a construction company in Austria, Germany, Poland, the Czech Republic, Italy, Romania, Switzerland, Serbia, Great Britain, Slovakia, Norway, Belgium, and internationally.

74Software

Market Cap: €1.0b

Operates as a software company in France.

Altea Green Power

Market Cap: €123.6m

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

Hackett Group

Market Cap: US$520.8m

Operates as an intellectual property platform-based generative artificial intelligence strategic consulting and executive advisory digital transformation in the United States, Europe, and internationally.

Inspur Digital Enterprise Technology

Market Cap: HK$9.4b

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.

Firan Technology Group

Market Cap: CA$278.9m

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

Limbach Holdings

Market Cap: US$1.2b

Operates as a building systems solution company in the United States.

Gamma Communications

Market Cap: UK£934.5m

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

Apeejay Surrendra Park Hotels

Market Cap: ₹31.5b

Owns and operates hotels in India.

Converge Information and Communications Technology Solutions

Market Cap: ₱93.0b

Converge Information and Communications Technology Solutions, Inc.

KH Neochem

Market Cap: JP¥98.6b

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

Sasseur Real Estate Investment Trust

Market Cap: S$866.4m

Invests in a portfolio of real estate and related assets.

Security Bank

Market Cap: ₱51.9b

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

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.

Assetwise

Market Cap: ฿5.6b

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

Palfinger

Market Cap: €1.2b

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

Nagarro

Market Cap: €631.9m

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

Afentra

Market Cap: UK£103.6m

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

Visco Vision

Market Cap: NT$12.2b

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

Serabi Gold

Market Cap: UK£189.3m

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

CorMedix

Market Cap: US$875.2m

A biopharmaceutical company, focuses on developing and commercializing therapeutic products for life-threatening diseases and conditions in the United States.

Byrna Technologies

Market Cap: US$476.3m

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.

Consun Pharmaceutical Group

Market Cap: HK$12.8b

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

Legacy Education

Market Cap: US$121.8m

Provides education services to students, high school graduates, and working parents in the United States.

City Cement

Market Cap: ر.س2.1b

Manufactures and sells cement in the Kingdom of Saudi Arabia.

Krsnaa Diagnostics

Market Cap: ₹26.1b

Provides diagnostic services in India.

Suzhou Alton Electrical & Mechanical Industry

Market Cap: CN¥6.8b

Suzhou Alton Electrical & Mechanical Industry Co., Ltd.

British American Tobacco Bangladesh

Market Cap: ৳139.3b

Manufactures and sells cigarettes in Bangladesh.

Genuit Group

Market Cap: UK£968.1m

Develops and produces solutions for water, climate, and ventilation management in the construction industry in the United Kingdom, rest of Europe, and internationally.

Unidata

Market Cap: €89.1m

Operates as an Internet service provider in Italy.

OKEA

Market Cap: NOK 1.9b

An oil and gas company, engages in the development and production of oil and gas in the Norwegian Continental Shelf.