U.S. Undervalued Small Caps

Adecoagro

Market Cap: US$936.9m

Engages in agricultural and agro-industrial activities in Argentina, Brazil, Chile, and Uruguay.

Northeast Bank

Market Cap: US$817.8m

Provides various banking services to individual and corporate customers in Maine.

Heritage Insurance Holdings

Market Cap: US$683.6m

Through its subsidiaries, provides personal and commercial residential insurance products.

InfuSystem Holdings

Market Cap: US$129.2m

Through its subsidiaries, provides infusion pumps and related products and services in the United States and Canada.

Century Aluminum

Market Cap: US$1.8b

Produces and sells standard-grade and value-added primary aluminum products in the United States and Iceland.

USA Rare Earth

Market Cap: US$940.4m

Engages in mining, processing, and supplying rare earths and other critical minerals in the United States.

Cadre Holdings

Market Cap: US$1.3b

Manufactures and distributes safety equipment and other related products that provides protection to users in hazardous or life-threatening situations in the United States and internationally.

Berkshire Hills Bancorp

Market Cap: US$1.2b

Operates as the bank holding company for Berkshire Bank that provides commercial and retail banking consumer lending, private banking and wealth management services in the United States.

Afya

Market Cap: US$1.6b

Operates as a medical education group in Brazil.

LifeVantage

Market Cap: US$172.7m

Engages in the identification, research, development, formulation, and sale of advanced nutrigenomic activators, dietary supplements, nootropics, pre- and pro-biotics, weight management, and skin and hair care products.

Bar Harbor Bankshares

Market Cap: US$493.8m

Operates as the holding company for Bar Harbor Bank & Trust that provides banking and nonbanking products and services primarily to consumers and businesses.

Investar Holding

Market Cap: US$220.8m

Operates as the bank holding company for Investar Bank that provides a range of commercial banking products to individuals, professionals, and small to medium-sized businesses in south Louisiana, southeast Texas, and Alabama in the United States.

Metropolitan Bank Holding

Market Cap: US$798.5m

Operates as the bank holding company for Metropolitan Commercial Bank that provides a range of business, commercial, and retail banking products and services.

Hanmi Financial

Market Cap: US$794.4m

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

Plumas Bancorp

Market Cap: US$329.3m

Operates as the bank holding company for the Plumas Bank that provides various banking products and services for small and middle market businesses and individuals in California, Nevada, and Oregon.

Sun Country Airlines Holdings

Market Cap: US$669.3m

An air carrier company, operates scheduled passenger, air cargo, charter air transportation, and related services in the United States, Latin America, and internationally.

American Public Education

Market Cap: US$545.0m

Provides online and campus-based postsecondary education and career learning in the United States.

Flotek Industries

Market Cap: US$440.8m

Operates as a technology-driven green chemistry and data company that serves customers across industrial and commercial markets in the United States, the United Arab Emirates, and internationally.

MRC Global

Market Cap: US$1.1b

Through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services in the United States and internationally.

Legacy Education

Market Cap: US$134.5m

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

Astrana Health

Market Cap: US$1.3b

A healthcare management company, provides medical care services in the United States.

Natural Gas Services Group

Market Cap: US$319.6m

Provides natural gas compression equipment, technology, and services to the energy industry in the United States.

First Internet Bancorp

Market Cap: US$243.5m

Operates as the bank holding company for First Internet Bank of Indiana that provides various commercial, small business, consumer, and municipal banking products and services to individuals and commercial customers in the United States.

Northpointe Bancshares

Market Cap: US$506.2m

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

Live Oak Bancshares

Market Cap: US$1.5b

Operates as the bank holding company for Live Oak Banking Company that provides various banking products and services in the United States.

Dime Community Bancshares

Market Cap: US$1.3b

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

Aehr Test Systems

Market Cap: US$464.4m

Provides test solutions for testing, burning-in, and semiconductor devices in wafer level, singulated die, package part form, and installed systems worldwide.

Ziff Davis

Market Cap: US$1.4b

Operates as a digital media and internet company in the United States and internationally.

Peapack-Gladstone Financial

Market Cap: US$534.7m

Operates as the bank holding company for Peapack Private Bank & Trust that provides private banking and wealth management services in the United States.

Silvercrest Asset Management Group

Market Cap: US$221.5m

A wealth management firm, provides financial advisory and related family office services in the United States.

Tompkins Financial

Market Cap: US$962.2m

A financial holding company, provides commercial and consumer banking, leasing, trust and investment management, financial planning and wealth management, and insurance services.

Talkspace

Market Cap: US$463.5m

Operates as a virtual behavioral healthcare company that connects patients with licensed mental health providers in the United States.

Brookline Bancorp

Market Cap: US$1.0b

Operates as a bank holding company for the Brookline Bank that provides commercial, business, and retail banking products and services to corporate, municipal, and retail customers in the United States.

Pennant Group

Market Cap: US$906.5m

Provides healthcare services in the United States.

Shutterstock

Market Cap: US$704.0m

Provides platform to connect brands and businesses to high quality content in North America, Europe, and internationally.

Bowman Consulting Group

Market Cap: US$512.5m

Provides engineering, technical, and technology enhanced consulting services in the United States.