U.S. Undervalued Small Caps

Tennant

Market Cap: US$1.4b

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

Thryv Holdings

Market Cap: US$231.8m

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

Zevra Therapeutics

Market Cap: US$502.2m

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

Aviat Networks

Market Cap: US$277.5m

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$385.4m

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.

AdaptHealth

Market Cap: US$1.4b

Distributes home medical equipment (HME), medical supplies, and home and related services in the United States.

Opera

Market Cap: US$1.2b

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

CI&T

Market Cap: US$569.9m

Provides strategy, design, and software engineering services worldwide.

Perfect

Market Cap: US$175.2m

An artificial intelligence software as a service company, provides artificial intelligence (AI)- and augmented reality (AR)-powered solutions for beauty, fashion, and skincare industries worldwide.

Nutex Health

Market Cap: US$1.2b

Operates as a healthcare services and operations company in the United States.

Abeona Therapeutics

Market Cap: US$275.8m

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

Betterware de MéxicoP.I. de

Market Cap: US$604.1m

Operates as a direct-to-consumer selling company in the United Staes and Mexico.

OMS Energy Technologies

Market Cap: US$204.6m

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.

Legacy Education

Market Cap: US$128.8m

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

Harmonic

Market Cap: US$1.1b

Provides broadband access solutions worldwide.

J.Jill

Market Cap: US$239.6m

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

Meridian

Market Cap: US$203.9m

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

MetroCity Bankshares

Market Cap: US$682.6m

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

Insteel Industries

Market Cap: US$650.6m

Manufactures and markets steel wire reinforcing products for concrete construction applications.

CF Bankshares

Market Cap: US$173.4m

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

Endava

Market Cap: US$350.9m

Provides technology services in North America, Europe, the United Kingdom, and internationally.

Northpointe Bancshares

Market Cap: US$612.4m

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

Richardson Electronics

Market Cap: US$152.9m

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

Karooooo

Market Cap: US$1.4b

Provides a mobility software-as-a-service (SaaS) platform for connected vehicles in South Africa, the rest of Africa, Europe, the Asia-Pacific, the Middle East, and the United States.

Fiverr International

Market Cap: US$641.2m

Operates an online marketplace worldwide.

SIGA Technologies

Market Cap: US$472.6m

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

Oddity Tech

Market Cap: US$1.9b

Operates as a consumer tech company that builds digital-first brands for the beauty and wellness industries in the United States and internationally.

WM Technology

Market Cap: US$146.0m

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

Power Solutions International

Market Cap: US$1.7b

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

Farmers National Banc

Market Cap: US$494.4m

Operates as a bank holding company for The Farmers National Bank of Canfield that engages in the banking, trust, retirement consulting, insurance, and financial management businesses.

Covenant Logistics Group

Market Cap: US$630.9m

Provides transportation and logistics services in the United States.

LSI Industries

Market Cap: US$587.0m

Manufactures, markets, and sells non-residential lighting and retail display solutions in the United States.

HBT Financial

Market Cap: US$831.7m

Operates as the bank holding company for Heartland Bank and Trust Company that provides financial products and services to consumers, businesses, and municipal entities in Illinois and Eastern Iowa.

Imperial Petroleum

Market Cap: US$173.2m

Provides seaborne transportation services worldwide.

Skyward Specialty Insurance Group

Market Cap: US$2.0b

An insurance holding company, underwrites commercial property and casualty insurance products in the United States.

Nicolet Bankshares

Market Cap: US$1.9b

Operates as the bank holding company for Nicolet National Bank that provides banking products and services for businesses and individuals in Wisconsin, Michigan, and Minnesota.