U.S. Undervalued Small Caps

LiveRamp Holdings

Market Cap: US$1.7b

A technology company, operates a data collaboration platform in the United States, Europe, the Asia-Pacific, and internationally.

Orion Group Holdings

Market Cap: US$416.5m

Operates as a specialty construction company for the infrastructure, industrial, and building sectors in the United States, Canada, and the Caribbean Basin.

FirstSun Capital Bancorp

Market Cap: US$991.6m

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 the United States.

Zevra Therapeutics

Market Cap: US$541.9m

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

Gibraltar Industries

Market Cap: US$1.1b

Manufactures and provides products and services for the residential, agtech, and infrastructure markets in the United States and internationally.

Flotek Industries

Market Cap: US$580.2m

Operates as a chemical and data analytics company in the United States, the United Arab Emirates, and internationally.

Village Farms International

Market Cap: US$292.4m

Produces, markets, and distributes greenhouse grown tomatoes, bell peppers, and cucumbers in North America.

Power Solutions International

Market Cap: US$1.2b

Designs, engineers, manufactures, markets, and sells engines and power systems in the United States, the rest of North America, the Pacific Rim, Europe, and internationally.

Sylvamo

Market Cap: US$1.5b

Produces and markets uncoated freesheet for cutsize, offset paper, and pulp in Europe, Latin America, and North America.

Extreme Networks

Market Cap: US$2.0b

Develops, markets, and sells network infrastructure equipment and related software in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific.

Koppers Holdings

Market Cap: US$689.3m

Provides treated wood products, wood preservation chemicals, and carbon compounds in the United States, Australasia, Europe, and internationally.

Wolverine World Wide

Market Cap: US$1.3b

Designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories in the United States, Europe, the Middle East, Africa, the Asia Pacific, Canada and Latin America.

Waterdrop

Market Cap: US$589.5m

Through its subsidiaries, provides online insurance brokerage services to match and connect users with related insurance products underwritten by insurance companies in the People’s Republic of China.

Shoals Technologies Group

Market Cap: US$1.0b

Provides electrical balance of system (EBOS) solutions and components in the United States and internationally.

Abeona Therapeutics

Market Cap: US$253.9m

A commercial-stage biopharmaceutical company, develops gene and cell therapies for life-threatening diseases.

Pagaya Technologies

Market Cap: US$878.1m

A product-focused technology company, deploys data science and proprietary artificial intelligence-powered technology for financial services, their customers, and institutional or sophisticated investors in the United States, Israel, and the Cayman Islands.

Merchants Bancorp

Market Cap: US$1.9b

Operates as the diversified bank holding company in the United States.

Bridgewater Bancshares

Market Cap: US$471.3m

Operates as the bank holding company for Bridgewater Bank that provides banking products and services in the United States.

Quad/Graphics

Market Cap: US$342.9m

Provides marketing solutions in North America, Mexico, Central America, the Caribbean, Europe, the Middle East, Africa, South America, and Asia.

Energy Recovery

Market Cap: US$499.8m

Designs, manufactures, and sells energy efficiency technology solutions in the United States, North, South and Latin America, the Middle East, Northern Africa, Asia, and Europe.

OMS Energy Technologies

Market Cap: US$222.0m

Through its subsidiaries, manufactures and sells specialty connectors and pipes, surface wellhead and Christmas trees, premium threading services, and other ancillary services in Saudi Arabia, Singapore, Malaysia, Thailand, Indonesia and internationally.

Turtle Beach

Market Cap: US$219.7m

An audio and gaming technology company, develops and markets audio and gaming accessory products under the Turtle Beach brand in the Americas, Europe, the Middle East, and the Asia Pacific.

Meridian

Market Cap: US$222.2m

Operates as the bank holding company for Meridian Bank that provides commercial banking products and services in Pennsylvania, New Jersey, Delaware, Maryland, and Florida.

CF Bankshares

Market Cap: US$177.4m

Operates as the bank holding company for CFBank, National Association that provides various banking products and services.

Aviat Networks

Market Cap: US$323.5m

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

Upwork

Market Cap: US$1.5b

Provides platforms and workforce solutions that connect businesses with freelance, agency, fractional, and payrolled talent in the United States, the Philippines, India, Pakistan, and internationally.

J.Jill

Market Cap: US$225.8m

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

Community West Bancshares

Market Cap: US$428.4m

Operates as the bank holding company for the Central Valley Community Bank that provides various commercial banking services to small and middle-market businesses and individuals in California.

Richardson Electronics

Market Cap: US$158.5m

Provides engineered solutions, power grid and microwave tube, and related consumables in North America, the Asia Pacific, Europe, and Latin America.

SIGA Technologies

Market Cap: US$353.9m

A commercial-stage pharmaceutical company, focuses on the health security market in the United States.

Viant Technology

Market Cap: US$721.0m

Operates a cloud-based demand side platform (DSP) that enables the programmatic purchase of digital advertising across multiple channels, including connected TV (CTV), streaming audio, digital out-of-home, mobile, and desktop.

Dime Community Bancshares

Market Cap: US$1.4b

Operates as the holding company for Dime Community Bank that engages in the provision of various commercial banking and financial services.

Bowhead Specialty Holdings

Market Cap: US$711.6m

Provides commercial specialty property and casualty insurance products in the United States.

XPEL

Market Cap: US$1.1b

Manufactures, installs, sells, and distributes protective films, coatings and related services.

Udemy

Market Cap: US$676.2m

A learning company, that operates a marketplace platform for learning skills in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America.

Imperial Petroleum

Market Cap: US$199.6m

Provides seaborne transportation services worldwide.