U.S. Undervalued Small Caps

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.

Northeast Bank

Market Cap: US$1.1b

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

Alamo Group

Market Cap: US$1.9b

Manufactures and sells industrial and vegetation management equipment for governmental, industrial, and agricultural uses worldwide.

Third Coast Bancshares

Market Cap: US$616.1m

Operates as the bank holding company for Third Coast Bank that provides various commercial banking solutions to small and medium-sized businesses and professionals in Texas, the United States.

Caledonia Mining

Market Cap: US$468.9m

Primarily operates a gold mine in Jersey.

HMH Holding

Market Cap: US$911.9m

Provides offshore and onshore oil and gas drilling equipment and systems and services in the United States and Norway.

Delcath Systems

Market Cap: US$381.8m

An interventional oncology company, focuses on the treatment of primary and metastatic liver cancers in the United States and Europe.

IMAX

Market Cap: US$1.9b

Operates as a technology platform for entertainment and events in the United States, Canada, Greater China, rest of Asia, Western Europe, Latin America, and internationally.

Niagen Bioscience

Market Cap: US$317.6m

Operates as a bioscience company engages in developing healthy aging products.

FirstSun Capital Bancorp

Market Cap: US$1.7b

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.

CNB Financial

Market Cap: US$901.0m

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

West Bancorporation

Market Cap: US$399.1m

Operates as the bank holding company for West Bank that provides community banking and trust services to individuals and small- to medium-sized businesses in the United States.

Sun Country Airlines Holdings

Market Cap: US$889.9m

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

Metallus

Market Cap: US$762.2m

Manufactures and sells alloy steel, and carbon and micro-alloy steel products in the United States and internationally.

Aviat Networks

Market Cap: US$205.2m

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

nCino

Market Cap: US$1.8b

A software-as-a-service company, provides software solutions to financial institutions in the United States, the United Kingdom, and internationally.

Energy Recovery

Market Cap: US$448.4m

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.

Legacy Education

Market Cap: US$145.8m

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

PicS

Market Cap: US$1.5b

Operates as a digital financial services company that provides digital wallet and application for individuals and businesses in Brazil.

Karooooo

Market Cap: US$1.5b

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.

Myers Industries

Market Cap: US$858.2m

Engages in distribution of tire service supplies in Ohio.

Crexendo

Market Cap: US$307.0m

Provides cloud communication platform software and unified communications as a service in the United States and internationally.

ANI Pharmaceuticals

Market Cap: US$1.8b

A biopharmaceutical company, develops, manufactures, and markets branded and generic pharmaceutical products in the United States and internationally.

FinWise Bancorp

Market Cap: US$183.2m

Operates as the bank holding company for FinWise Bank that provides various banking products and services to individual and corporate customers in Utah.

Bowhead Specialty Holdings

Market Cap: US$915.2m

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

Dime Community Bancshares

Market Cap: US$1.6b

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

Five9

Market Cap: US$1.6b

Provides intelligent cloud software for contact centers in the United States and internationally.

trivago

Market Cap: US$230.2m

Operates a hotel and accommodation search platform in the United States, Germany, the United Kingdom, Canada, Japan, and internationally.

Viemed Healthcare

Market Cap: US$358.8m

Through its subsidiaries, provides home medical equipment (HME) and post-acute respiratory healthcare services in the United States.

LendingClub

Market Cap: US$1.9b

Operates as a bank holding company, that provides range of financial products and services in the United States.