U.S. Undervalued based on future growth

Dingdong (Cayman)

Market Cap: US$550.8m

Operates an e-commerce company in China.

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.

Embecta

Market Cap: US$540.1m

A medical device company, provides solutions to improve the health and wellbeing of people living with diabetes in the United States and internationally.

Arrow Financial

Market Cap: US$529.9m

A bank holding company, provides various commercial and consumer banking, and financial products and services in the United States.

Bar Harbor Bankshares

Market Cap: US$527.4m

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

GeoPark

Market Cap: US$527.3m

Operates as an oil and natural gas exploration and production company in Chile, Colombia, Brazil, Argentina, Ecuador, and other Latin American countries.

Malibu Boats

Market Cap: US$518.3m

Designs, engineers, manufactures, markets, and sells various recreational powerboats.

Flushing Financial

Market Cap: US$510.6m

Operates as the bank holding company for Flushing Bank that provides banking products and services primarily to consumers, businesses, and governmental units.

CorMedix

Market Cap: US$498.0m

A biopharmaceutical company, focuses on developing and commercializing therapeutic products for life-threatening diseases and conditions in the United States.

ACNB

Market Cap: US$476.4m

A financial holding company, offers banking, insurance, and financial services to individual, business, and government customers in the United States.

Bridgewater Bancshares

Market Cap: US$476.4m

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

Crawford

Market Cap: US$457.3m

Provides claims management and outsourcing solutions for carriers, brokers, and corporations in the United States, the United Kingdom, Europe, Canada, Australia, Asia, and Latin America.

Kearny Financial

Market Cap: US$448.4m

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

Mistras Group

Market Cap: US$447.7m

Provides technology-enabled industrial asset integrity and laboratory testing solutions in the United States, Europe, the Middle East, Africa, Asia, and South America.

Pangaea Logistics Solutions

Market Cap: US$441.2m

Provides seaborne dry bulk logistics and transportation services to industrial customers worldwide.

Carter Bankshares

Market Cap: US$440.0m

Operates as the bank holding company for Carter Bank & Trust that provides various retail and commercial banking products and insurance services in the United States.

Community West Bancshares

Market Cap: US$432.3m

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.

Auna

Market Cap: US$428.5m

A healthcare service provider, operates hospitals and clinics in Mexico, Peru, and Colombia.

Caledonia Mining

Market Cap: US$428.0m

Primarily operates a gold mine in Jersey.

Southern First Bancshares

Market Cap: US$427.5m

Operates as the bank holding company for Southern First Bank that provides commercial, consumer, and mortgage loans to the general public in South Carolina, North Carolina, and Georgia.

ChoiceOne Financial Services

Market Cap: US$412.9m

Operates as the bank holding company for ChoiceOne Bank that provides various banking services in the Michigan.

Colony Bankcorp

Market Cap: US$410.6m

Operates as the bank holding company for Colony Bank that provides various banking products and services to retail and commercial customers in the United States.

Global Indemnity Group

Market Cap: US$409.6m

Through its subsidiaries, provides specialty property and casualty insurance, and reinsurance products in the United States.

Ranger Energy Services

Market Cap: US$403.4m

Provides onshore high specification well service rigs, wireline services, and complementary services to exploration and production companies in the United States.

OPAL Fuels

Market Cap: US$402.3m

Engages in the production and distribution of renewable natural gas (RNG) for use as a vehicle fuel for heavy and medium-duty trucking fleets throughout the United States.

West Bancorporation

Market Cap: US$390.0m

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.

Citizens & Northern

Market Cap: US$388.8m

Operates as the bank holding company for Citizens & Northern Bank that provides various banking and related services to individual and corporate customers.

Dine Brands Global

Market Cap: US$381.0m

Owns, franchises, and operates restaurants in the United States and internationally.

GBank Financial Holdings

Market Cap: US$371.9m

Operates as a bank holding company for GBank that provides banking services to commercial and consumer customers in Nevada.

Investar Holding

Market Cap: US$369.7m

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.

Nexxen International

Market Cap: US$369.4m

Provides end-to-end and video-first platform that engages advertising campaigns for brands, agencies, media groups, and content creators worldwide.

Fiverr International

Market Cap: US$366.7m

Operates an online marketplace worldwide.

SIGA Technologies

Market Cap: US$364.0m

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

Holley

Market Cap: US$350.0m

Designs, manufactures, and distributes automotive aftermarket products to car and truck enthusiasts in the United States, Canada, and Europe.

Quad/Graphics

Market Cap: US$343.9m

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

XOMA Royalty

Market Cap: US$342.4m

Operates as a biotech royalty aggregator in the United States, Switzerland, the Asia Pacific, and Australia.