The United States market has seen a robust performance recently, climbing 1.8% in the last week and 30% over the past year, with earnings projected to grow by 16% annually. In this dynamic environment, identifying small-cap stocks that are perceived as undervalued and have insider buying can provide unique opportunities for investors seeking potential growth.

Top 10 Undervalued Small Caps With Insider Buying In The United States

Name	PE	PS	Discount to Fair Value	Value Rating
Financial Institutions	8.8x	2.9x	46.50%	★★★★★☆
Ribbon Communications	15.3x	0.6x	30.93%	★★★★★☆
PCB Bancorp	8.7x	3.0x	17.98%	★★★★☆☆
1st Source	11.1x	4.2x	40.95%	★★★★☆☆
Tennant	34.0x	1.2x	35.09%	★★★☆☆☆
German American Bancorp	12.1x	4.4x	44.56%	★★★☆☆☆
Franklin Financial Services	10.8x	2.9x	-11.34%	★★★☆☆☆
Bank of the James Financial Group	9.7x	2.1x	39.37%	★★★☆☆☆
New Peoples Bankshares	9.7x	2.3x	23.07%	★★★☆☆☆
Aldeyra Therapeutics	NA	NA	45.92%	★★★☆☆☆

We're going to check out a few of the best picks from our screener tool.

First Northern Community Bancorp (FNRN)

Simply Wall St Value Rating: ★★★☆☆☆

Overview: First Northern Community Bancorp operates as a community bank providing a range of banking services to individuals and businesses, with a market capitalization of approximately $0.11 billion.

Operations: FNRN generates revenue primarily through its core business operations, with a notable gross profit margin of 100%. Operating expenses, including general and administrative costs, are significant components of its cost structure. Over time, the net income margin has shown an upward trend from approximately 17.36% to around 30.88%, indicating improved profitability efficiency in recent periods.

PE: 12.0x

First Northern Community Bancorp, a small financial institution, recently showcased insider confidence with share purchases from October to December 2025. Their Q1 2026 earnings revealed net interest income of US$17.2 million and net income of US$5.91 million, both higher than the previous year. The company has been added to the NASDAQ Composite Index and announced a buyback program for up to 984,579 shares by April 2028, enhancing capital management and market liquidity.

MannKind (MNKD)

Simply Wall St Value Rating: ★★★★★☆

Overview: MannKind is a biopharmaceutical company focused on the development and commercialization of inhaled therapeutic products, with a market cap of approximately $1.45 billion.

Operations: The company generates revenue primarily from its pharmaceutical segment, with recent figures reaching $348.97 million. Over time, the gross profit margin has shown a notable increase, reaching 74.79% by the end of 2025. Operating expenses are significant and include research and development costs that have varied over time but reached $66.35 million in late 2025.

PE: 150.6x

MannKind, a company focused on innovative diabetes treatments, has seen insider confidence with share purchases over the past six months. Their flagship product, Afrezza, an inhaled insulin powder, is awaiting FDA approval for pediatric use by May 29, 2026. Despite recent financial challenges—such as a net loss of US$15.95 million in Q4 2025—their revenue increased to US$348.97 million in the full year ending December 2025. The potential expansion into pediatric markets and ongoing clinical trials could offer growth opportunities despite current financial volatility and high-risk funding sources.

AH REALTY TRUST (AHRT)

Simply Wall St Value Rating: ★★★☆☆☆

Overview: AH Realty Trust is a real estate investment trust focused on acquiring and managing commercial properties, with a market cap of $1.75 billion.

Operations: AHRT generates revenue primarily through its operations, with significant costs attributed to COGS and operating expenses. The company has shown fluctuations in its net income margin, peaking at 14.27% in Q3 2022 and declining to negative values in certain periods. Notably, the gross profit margin reached a high of 67.96% in Q4 2023 before experiencing variations across different quarters.

PE: -46.9x

AH Realty Trust, a smaller company in the U.S., recently reported first-quarter sales of US$52.32 million, up from US$50.18 million last year, though it faced a net loss of US$30.4 million. The company has secured a significant lease with Industrious at its Southern Post location in Roswell, Georgia. Despite recent board changes and being dropped from major indices like S&P 600 and S&P 1000 in March 2026, AH Realty continues to expand its mixed-use destinations with new tenants such as Abercrombie & Fitch at Virginia Beach's Town Center. While earnings have declined over the past five years by an average of 27.7% annually due to reliance on higher-risk external borrowing for funding, the execution of strategic leases could potentially enhance future revenue streams if managed effectively within this dynamic market environment.

Next Steps

• Gain an insight into the universe of 67 Undervalued US Small Caps With Insider Buying by clicking here.
• Have you diversified into these companies? Leverage the power of Simply Wall St's portfolio to keep a close eye on market movements affecting your investments.
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Contemplating Other Strategies?

• Explore high-performing small cap companies that haven't yet garnered significant analyst attention.
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• Find companies with promising cash flow potential yet trading below their fair value.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.