U.S. Undervalued based on future growth

Haverty Furniture Companies

Market Cap: US$342.2m

Operates as a specialty retailer of residential furniture and accessories in the United States.

Hackett Group

Market Cap: US$339.8m

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

USCB Financial Holdings

Market Cap: US$336.1m

Operates as the bank holding company for U.S.

Aviat Networks

Market Cap: US$334.0m

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

Isabella Bank

Market Cap: US$333.5m

Operates as the bank holding company for Isabella Bank that provides banking and wealth management services to businesses, institutions, and individuals and their families in Michigan, the United States.

Plumas Bancorp

Market Cap: US$332.6m

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.

Park-Ohio Holdings

Market Cap: US$324.3m

Provides supply chain management outsourcing services, capital equipment, and manufactured components in the United States, Europe, Asia, Mexico, Canada, and internationally.

NewtekOne

Market Cap: US$323.8m

Operates as the bank holding company for Newtek Bank, National Association that provides various business and financial solutions under the Newtek and NewtekOne brands to the small- and medium-sized business market.

Alto Ingredients

Market Cap: US$321.5m

Produces, distributes, and markets specialty alcohols, renewable fuel, and essential ingredients in the United States.

MVB Financial

Market Cap: US$317.0m

Operates as bank holding company for MVB Bank, Inc that provides financial services to individuals and corporate clients.

USANA Health Sciences

Market Cap: US$316.4m

Develops, manufactures, and sells science-based nutritional, personal care, and skincare products in the Asia Pacific, the Americas, and Europe.

Luxfer Holdings

Market Cap: US$314.9m

Develops and manufactures high-performance materials, components, and high-pressure gas containment devices.

European Wax Center

Market Cap: US$314.7m

Operates as the franchisor and operator of out-of-home waxing services in the United States.

TOYO

Market Cap: US$314.7m

Engages in the upstream production of wafer and silicon, midstream production of solar cell, downstream production of photovoltaic (PV) modules, and other stages of the solar power supply chain in Asia and the United States.

ITHAX Acquisition

Market Cap: US$312.6m

As of July 18, 2022, ITHAX Acquisition Corp.

Norwood Financial

Market Cap: US$310.3m

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

LINKBANCORP

Market Cap: US$307.6m

Operates as a bank holding company for LINKBANK that provides various banking products and services in Pennsylvania, Maryland, Delaware, and Virginia.

Organogenesis Holdings

Market Cap: US$307.5m

A regenerative medicine company, develops, manufactures, and commercializes products for the advanced wound care, and surgical and sports medicine markets in the United States.

AerSale

Market Cap: US$296.7m

Provides aftermarket commercial aircraft, engines, and its parts to passenger and cargo airlines, leasing companies, original equipment manufacturers, government and defense contractors, and maintenance, repair, and overhaul service providers worldwide.

Village Farms International

Market Cap: US$292.4m

Produces, markets, and distributes greenhouse grown tomatoes, bell peppers, and cucumbers in North America.

Regional Management

Market Cap: US$292.1m

A diversified consumer finance company, provides various installment loan products primarily to customers with limited access to consumer credit from banks, thrifts, credit card companies, and other lenders in the United States.

FS Bancorp

Market Cap: US$278.9m

Operates as a bank holding company for 1st Security Bank of Washington that provides banking and financial services to local families, local and regional businesses, and industry niches in Washington.

James River Group Holdings

Market Cap: US$278.6m

Provides specialty insurance services.

ACCO Brands

Market Cap: US$272.3m

Designs, manufactures, and markets consumer, school, technology, and office products in the United States, Canada, Brazil, Mexico, Chile, Europe, the Middle East, Australia, New Zealand, and Asia.

Diana Shipping

Market Cap: US$271.5m

Provides shipping transportation services worldwide.

Lifeway Foods

Market Cap: US$270.1m

Produces and markets probiotic-based products in North America.

First Community

Market Cap: US$263.7m

Operates as the bank holding company for First Community Bank that provides various commercial and retail banking products and services to small-to-medium sized businesses, professionals, and individuals.

Abeona Therapeutics

Market Cap: US$259.0m

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

Chemung Financial

Market Cap: US$247.7m

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

TPG Mortgage Investment Trust

Market Cap: US$244.4m

Operates as a residential mortgage real estate investment trust in the United States.

First Western Financial

Market Cap: US$237.6m

A financial holding company, provides wealth advisory, private banking, personal trust, investment management, mortgage lending, and institutional asset management services to individual and corporate clients.

J.Jill

Market Cap: US$237.0m

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

JAKKS Pacific

Market Cap: US$228.3m

Designs, produces, markets, sells, and distributes toys and related products, consumer and electronic products, kids indoor and outdoor furniture, costumes, and sporting goods and home furnishings space products worldwide.

Meridian

Market Cap: US$222.9m

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

Franklin Financial Services

Market Cap: US$220.0m

Operates as the bank holding company for Farmers and Merchants Trust Company of Chambersburg that provides banking services to businesses, individuals, and governmental entities in Pennsylvania.

Turtle Beach

Market Cap: US$219.7m

An audio and gaming technology company, develops and markets audio and gaming accessory products under the Turtle Beach brand in the Americas, Europe, the Middle East, and the Asia Pacific.