U.S. Undervalued over 20% based on DCF

HomeTrust Bancshares

Market Cap: US$759.4m

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

Redwood Trust

Market Cap: US$746.2m

Operates as a specialty finance company in the United States.

Golden Entertainment

Market Cap: US$743.4m

Operates a diversified entertainment platform of gaming and hospitality assets.

Southern Missouri Bancorp

Market Cap: US$742.1m

Operates as the bank holding company for Southern Bank that provides banking and financial services to individuals and corporate customers in the United States.

Five Point Holdings

Market Cap: US$740.2m

Designs, develops, and owns mixed-use planned communities in California, the United States.

Omada Health

Market Cap: US$714.2m

Together with its subsidiary, Physera, Inc., provides a range of virtual care programs in the United States.

HUYA

Market Cap: US$710.8m

Through its subsidiaries, operates game live streaming platforms in the People’s Republic of China.

Fox Factory Holding

Market Cap: US$704.9m

Designs, engineers, manufactures, and markets performance-defining products and systems in North America, Europe, Asia, and internationally.

Gyre Therapeutics

Market Cap: US$702.2m

A pharmaceutical company, engages in the development and commercialization of small-molecule, anti-inflammatory, and anti-fibrotic drugs targeting organ fibrosis.

Forum Energy Technologies

Market Cap: US$696.5m

Designs, manufactures, and supplies products serving the oil, natural gas, defense, and renewable energy industries in the United States and internationally.

Vishay Precision Group

Market Cap: US$690.9m

Engages in the precision measurement and sensing technologies business in the United States, Europe, Israel, Asia, and Canada.

LSI Industries

Market Cap: US$688.3m

Manufactures, markets, and sells non-residential lighting and retail display solutions in the United States.

Third Coast Bancshares

Market Cap: US$685.6m

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.

INDUS Realty Trust

Market Cap: US$683.2m

INDUS is a real estate business principally engaged in developing, acquiring, managing and leasing industrial/logistics properties.

Latham Group

Market Cap: US$673.7m

Designs, manufactures, and markets in-ground residential swimming pools in North America, Australia, and New Zealand.

Financial Institutions

Market Cap: US$666.3m

Through its subsidiaries, provides banking and financial services to consumer, commercial, and municipal customers in New York.

NexPoint Residential Trust

Market Cap: US$663.9m

A publicly traded real estate investment trust.

Sturm Ruger

Market Cap: US$662.8m

Designs, manufactures, and sells firearms under the Ruger name and trademark in the United States.

Noah Holdings

Market Cap: US$661.0m

Operates as a wealth and asset management service provider with the focus on investment and asset allocation services for high net worth individuals and corporate entities in Mainland of China, Hong Kong, and internationally.

Northpointe Bancshares

Market Cap: US$646.8m

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

American Business Bank

Market Cap: US$645.0m

A California-chartered bank, provides banking products and services to small and medium-sized firms, non-profits, business executives, and professionals in Southern California.

Corsair Gaming

Market Cap: US$642.1m

Designs and sells gaming and streaming peripherals, components, and systems in Europe, the Middle East, North Africa, North America, Latin America, and the Asia Pacific.

Mitek Systems

Market Cap: US$637.6m

Provides digital identity verification and fraud prevention solutions worldwide.

Cognyte Software

Market Cap: US$637.2m

A software-driven technology company, focuses on investigative analytics solutions worldwide.

AMERISAFE

Market Cap: US$631.7m

An insurance holding company, underwrites workers’ compensation insurance in the United States.

Waterdrop

Market Cap: US$622.1m

Through its subsidiaries, provides online insurance brokerage services to match and connect users with related insurance products underwritten by insurance companies in the People’s Republic of China.

Red River Bancshares

Market Cap: US$617.0m

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

American Woodmark

Market Cap: US$615.6m

Manufactures and distributes kitchen, bath, and home organization products for the remodeling and new home construction markets in the United States.

Greenlight Capital Re

Market Cap: US$609.7m

Through its subsidiaries, operates as a property and casualty reinsurance company worldwide.

Natural Grocers by Vitamin Cottage

Market Cap: US$605.1m

Natural Grocers by Vitamin Cottage, Inc., together with its subsidiaries, retails natural and organic groceries, and dietary supplements in the United States.

Energy Recovery

Market Cap: US$602.8m

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.

HealthStream

Market Cap: US$598.0m

Provides Software-as-a-Service (SaaS) based applications for healthcare organizations in the United States.

California BanCorp

Market Cap: US$593.5m

Operates as the bank holding company for California Bank of Commerce, N.A.

Gladstone Commercial

Market Cap: US$593.5m

An established real estate investment trust (REIT) that invests in single tenant and anchored multi-tenant net leased assets.

TAT Technologies

Market Cap: US$589.7m

Provides solutions and services to the commercial and military aerospace and ground defense industries in the United States, Israel, and internationally.

Thomasville Bancshares

Market Cap: US$589.4m

Operates as the bank holding company for Thomasville National Bank that provides a range of banking services to individual and corporate customers primarily in Thomas and Glynn counties, Georgia, Leon County, Florida, and the surrounding counties.