U.S. Undervalued based on future growth

Berry

Market Cap: US$190.1m

Operates as an independent upstream energy company in the western United States.

Consumer Portfolio Services

Market Cap: US$188.7m

Operates as a specialty finance company in the United States.

WM Technology

Market Cap: US$187.3m

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

Ring Energy

Market Cap: US$185.5m

An independent oil and natural gas company, engages in the acquisition, exploration, development, and production of oil and natural gas properties.

First Community

Market Cap: US$184.5m

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.

First National

Market Cap: US$183.8m

Operates as the bank holding company for First Bank that provides various commercial banking services to small and medium-sized businesses, individuals, estates, local governmental entities, and non-profit organizations in Virginia.

First Western Financial

Market Cap: US$182.9m

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.

OP Bancorp

Market Cap: US$178.4m

Operates as the bank holding company for Open Bank that provides banking products and services.

European Wax Center

Market Cap: US$177.1m

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

First Internet Bancorp

Market Cap: US$177.1m

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.

Flexsteel Industries

Market Cap: US$175.5m

Operates as a manufacturer, importer, and markets of furniture for residential markets in the United States.

Eagle Financial Services

Market Cap: US$172.5m

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

Avidbank Holdings

Market Cap: US$169.8m

Operates as a bank holding company for Avidbank that provides financial products and services to businesses and individuals in the Santa Clara, San Mateo, and San Francisco counties.

Hanover Bancorp

Market Cap: US$169.1m

A bank holding company for Hanover Community Bank, provides personal and business lending and deposit services to businesses, municipalities, and individuals in the New York metro area.

National Bankshares

Market Cap: US$165.8m

Operates as the bank holding company for the National Bank of Blacksburg that provides retail and commercial banking products and services to individuals, businesses, non-profits, and local governments.

Diana Shipping

Market Cap: US$163.4m

Provides shipping transportation services worldwide.

LifeVantage

Market Cap: US$159.0m

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.

Meridian

Market Cap: US$158.0m

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

BCB Bancorp

Market Cap: US$150.9m

Operates as the bank holding company for BCB Community Bank that provides various banking products and services to businesses and individuals in the United States.

Travelzoo

Market Cap: US$147.4m

Operates as an Internet media company that provides travel, entertainment, and local experiences worldwide.

Sunrise Realty Trust

Market Cap: US$136.1m

Engages in commercial real estate lending business in the United States.

RCM Technologies

Market Cap: US$132.3m

Provides business and technology solutions in the United States, Canada, Puerto Rico, Europe, and Philippines.

First Guaranty Bancshares

Market Cap: US$126.7m

Operates as the holding company for First Guaranty Bank that provides commercial banking services in Louisiana and Texas.

biote

Market Cap: US$126.6m

Operates in practice-building business within the hormone optimization space.

Advanced Flower Capital

Market Cap: US$121.1m

Advanced Flower Capital Inc. originates, structures, underwrites, invests, manages senior secured loans, and other of mortgage loans and debt securities for established companies operating in the cannabis industry.

Synchronoss Technologies

Market Cap: US$117.7m

Provides white label cloud software and services in North America, Europe, the Middle East, Africa, and the Asia Pacific.

South Atlantic Bancshares

Market Cap: US$115.2m

Operates as the bank holding company for South Atlantic Bank that provides consumer and commercial banking products and services to individuals, small businesses, and corporations in South Carolina.

Intchains Group

Market Cap: US$108.1m

Designs and sells application-specific integrated circuit chips for blockchain applications in the People’s Republic of China.

Twin Disc

Market Cap: US$96.8m

Engages in the design, manufacture, and sale of marine and heavy duty off-highway power transmission equipment in the United States, the Netherlands, China, Australia, Italy, and internationally.

Viomi Technology

Market Cap: US$94.8m

Through its subsidiaries, develops and sells Internet-of-things-enabled (IoT-enabled) smart home products in the People's Republic of China.

Mastech Digital

Market Cap: US$92.2m

Provides digital transformation IT services to large, medium-sized, and small companies in the United States.

Cherry Hill Mortgage Investment

Market Cap: US$86.5m

A residential real estate finance company, acquires, invests in, and manages residential mortgage assets in the United States.

Legacy Education

Market Cap: US$82.9m

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

Imperial Petroleum

Market Cap: US$78.9m

Provides international seaborne transportation services to oil producers, refineries, and commodities traders.

inTEST

Market Cap: US$77.1m

Provides test and process technology solutions for use in manufacturing and testing in automotive, defense/aerospace, industrial, life sciences, security, and semiconductor markets in the United States and internationally.

First Reliance Bancshares

Market Cap: US$74.9m

Operates as the bank holding company for First Reliance Bank that provides banking products and services in North and South Carolina.