U.S. Undervalued Small Caps

ACM Research

Market Cap: US$1.8b

Develops, manufactures, and sells capital equipment worldwide.

Ibotta

Market Cap: US$1.0b

A technology company, provides digital promotion services to clients in the United States.

Verint Systems

Market Cap: US$1.3b

Provides customer engagement solutions worldwide.

Avidbank Holdings

Market Cap: US$165.3m

Operates as a bank holding company for Avidbank that provides financial solutions and services.

Gambling.com Group

Market Cap: US$431.5m

Operates as a performance marketing company for the online gambling industry in North America, the United Kingdom, Ireland, rest of Europe, and internationally.

Opera

Market Cap: US$1.8b

Provides mobile and PC web browsers and related products and services in Norway and internationally.

HCI Group

Market Cap: US$1.7b

Engages in the property and casualty insurance, insurance management, reinsurance, real estate, and information technology businesses in the United States.

Semrush Holdings

Market Cap: US$1.4b

Develops an online visibility management software-as-a-service platform in the United States, the United Kingdom, and internationally.

Travelzoo

Market Cap: US$147.7m

Operates as an Internet media company that provides travel, entertainment, and local experiences worldwide.

Chemung Financial

Market Cap: US$241.6m

Operates as a bank holding company for Chemung Canal Trust Company that provides a range of banking, financing, fiduciary, and other financial services.

DHT Holdings

Market Cap: US$1.8b

Through its subsidiaries, owns and operates crude oil tankers primarily in Monaco, Singapore, Norway, and India.

Ultralife

Market Cap: US$150.9m

Designs, manufactures, installs, and maintains power, and communication and electronics systems worldwide.

Flowco Holdings

Market Cap: US$1.6b

Through its subsidiaries, provides production optimization, artificial lift, and methane abatement solutions for the oil and natural gas industry in the United States.

CNB Financial

Market Cap: US$509.3m

Operates as the bank holding company for CNB Bank that provides various banking products and services for individual, business, governmental, and institutional customers.

Tennant

Market Cap: US$1.5b

Designs, manufactures, and markets floor cleaning equipment in the Americas, Europe, the Middle East, Africa, and the Asia Pacific.

Waterdrop

Market Cap: US$506.3m

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.

Hackett Group

Market Cap: US$710.2m

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

MetroCity Bankshares

Market Cap: US$766.6m

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

J.Jill

Market Cap: US$236.6m

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

Turtle Beach

Market Cap: US$290.7m

Operates as an audio technology company in North America, Europe, the Middle East, and the Asia Pacific.

Mistras Group

Market Cap: US$255.3m

Provides technology-enabled asset protection solutions in the United States, other Americas, Europe, and the Asia-Pacific.

RMR Group

Market Cap: US$558.8m

Through its subsidiary, The RMR Group LLC, provides asset management services in the United States.

Meridian

Market Cap: US$155.7m

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

SIGA Technologies

Market Cap: US$477.9m

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

Tactile Systems Technology

Market Cap: US$235.5m

A medical technology company, develops and provides medical devices to treat underserved chronic diseases in the United States.

Atlanticus Holdings

Market Cap: US$871.9m

A financial technology company, provides products and services to lenders in the United States.

Equity Bancshares

Market Cap: US$758.9m

Operates as the bank holding company for Equity Bank that provides a range of banking, mortgage banking, and financial services to individual and corporate customers.

OP Bancorp

Market Cap: US$209.1m

Operates as the bank holding company for Open Bank that provides banking products and services.

WM Technology

Market Cap: US$154.7m

An online cannabis marketplace, provides ecommerce and compliance software solutions to retailers and brands in cannabis market in the United States and internationally.

Harmony Biosciences Holdings

Market Cap: US$1.8b

A commercial-stage pharmaceutical company, focuses on developing and commercializing therapies for patients with rare and other neurological diseases in the United States.

LexinFintech Holdings

Market Cap: US$1.2b

Offers online direct sales and online consumer finance services in the People’s Republic of China.

Imperial Petroleum

Market Cap: US$106.7m

Provides seaborne transportation services worldwide.

LSI Industries

Market Cap: US$517.1m

Manufactures and distributes commercial lighting, graphics, and display solutions across strategic vertical markets.

Mid Penn Bancorp

Market Cap: US$585.9m

Operates as the bank holding company for Mid Penn Bank that provides commercial banking services to individuals, partnerships, non-profit organizations, and corporations.

CI&T

Market Cap: US$810.3m

Provides strategy, design, and software engineering services worldwide.

National Energy Services Reunited

Market Cap: US$643.1m

Provides oilfield services in the Middle East and North Africa region.