The Alpha-Select List

The Alpha Select list is an actively researched collection of smaller, underfollowed public companies that we believe have the potential to become much larger. An “acorn” list of sorts, the Alpha Select List will typically consist of sub-$500M market cap companies with attractive business models, above average growth trends, favorable macro-secular themes, and management teams that we believe have the ability to take the business to the next level.

TickerName of CompanyAnalyst Profile
AAOIApplied Optoelectronics Richard Shannon

Acacia Research Corp

Anthony Stoss
AEHRAehr Test Systems Christian Schwab


Eric Des Lauriers


Anthony Stoss
AKTSAkoustis Technologies Anthony Stoss

Alimera Sciences

Alex Nowak
AMOTAllied Motion Technologies Greg Palm
AMSCAmerican Superconductor Eric Stine
APENApollo Endosurgery Matthew Hewitt

Applied Blockchain Inc.

George Sutton
APPSDigital Turbine, Inc. Anthony Stoss
APYXAPYX Medical Matthew Hewitt
ASPUAspen Group Jeremy Hamblin
ASURAsure Software Jeff Van Rhee


Richard Shannon
BBQBBQ Holdings Alex Fuhrman
BNEDBarnes & Noble Education Alex Fuhrman


Eric Stine
CELCCelcuity Alex Nowak
CEMIChembio Diagnostics Per Ostlund
CSBRChampions Oncology Matthew Hewitt

Chicken Soup For The Soul Entertainment

Jason Kreyer
CTEKCynergisTek Matthew Hewitt

Cue Biopharma

Robin Garner
CYBECyberOptics Greg Palm
DMACDiaMedica Therapeutics Alex Nowak
DRIODarioHealth Alex Nowak
DRTTDIRTT Environmental Solutions Greg Palm

Drive Shack

Alex Fuhrman

Destination XL Group

Jeremy Hamblin
DZSIDASAN Zhone Solutions Christian Schwab
EGANeGain Jeff Van Rhee


Richard Shannon

Fathom Digital Manufacturing

Greg Palm

Fennec Pharmaceuticals

Robin Garner

Full House Resorts

Ryan Sigdahl

Goodness Growth Holdings

Eric Des Lauriers
GLMDGalmed Pharmaceuticals

GTY Technology Holdings

Jeff Van Rhee
HDSNHudson Technologies Ryan Sigdahl
ICADiCAD Per Ostlund


Jeff Van Rhee
IMBIiMedia Brands Alex Fuhrman
INBKFirst Internet Bancorp George Sutton
INSEInspired Entertainment Ryan Sigdahl

Indentiv, Inc.

Anthony Stoss


Matthew Hewitt
ITIIteris Ryan Sigdahl


Jeremy Hamblin
KLRKaleyra George Sutton
KRMDKORU Medical Systems Alex Nowak

Kura Sushi USA

Jeremy Hamblin
LAKELakeland Industries Inc. Alex Fuhrman
LAZYLazydays Holdings Steve Dyer

Laird Superfood

Alex Fuhrman


Christian Schwab

Miromatrix Medical

Alex Nowak
MRAMEverspin Technologies Richard Shannon
MRNSMarinus Pharmaceuticals

NeuroOne Medical

Alex Nowak

Nuvve Holding

Eric Stine
OEGOrbital Energy Group Eric Stine
OESXOrion Energy Systems Eric Stine

Panbela Therapeutics

Robin Garner

Processa Pharmaceuticals

Robin Garner

Performant Financial

George Sutton
PFSWPFSweb George Sutton
PSIXPower Solutions Eric Stine
PXLWPixelworks Richard Shannon

Quest Resource Holding Corp.

Aaron Spychalla

QualTek Services, Inc.

Christian Schwab
QUIKQuickLogic Richard Shannon
QUMUQumu Jeff Van Rhee


Jason Kreyer

Societal CDMO, Inc.

Matthew Hewitt

SkyWater Technology Inc

Richard Shannon
SLNOSoleno Therapeutics

Stryve Foods

Alex Fuhrman

Science 37 Holdings, Inc.

Matthew Hewitt
SRTSSensus Healthcare Alex Nowak
STRMStreamline Health Matthew Hewitt

TransAct Technologies

George Sutton


Richard Shannon


Greg Palm

urban-gro Inc.

Eric Des Lauriers

VIA optronics

Anthony Stoss
VTNRVertex Energy Eric Stine
VUZIVuzix Christian Schwab

Vivos Therapeutics

Alex Nowak

Winc Inc.

Alex Fuhrman
WTRHWaitr Holdings Alex Fuhrman

Xeris Biopharma Holdings, Inc.

Robin Garner

22nd Century Group, Inc.

Alex Fuhrman
TickerName of CompanyAnalyst Profile
close popup
steve dyer

Steve Dyer Chief Executive Officer Senior Research Analyst

(612) 334-6302

Steve Dyer became CEO at Craig-Hallum in 2020 after more than 15 years as a senior research analyst at the firm. He is also a member of the firm’s Board of Governors. Mr. Dyer has appeared on CNBC, Bloomberg, CBC and NPR; and is regularly quoted in the Wall Street Journal, Barron’s and numerous other publications. Prior to joining Craig-Hallum, Mr. Dyer was a consultant at American Express Financial Corp. He received a BA from Marquette University and an MBA from the University of St. Thomas.

  • Research Coverage

  • Nautilus

  • Shyft Group

  • Smith & Wesson Brands

  • Titan Machinery

  • TrueCar

  • XPEL, Inc.

  • Alpha Select List
  • Lazydays Holdings

close popup
anthony stoss

Anthony Stoss Partner Senior Research Analyst Institutional Research

(612) 334-6330

Associate Analyst:
Trenton McCarthy
(612) 334-6378

Tony Stoss is a Partner and Senior Research Analyst in the Equity Research Department at Craig-Hallum Capital Group LLC, where he covers various technology industries, primarily in the Wireless and Cable related sectors. Previously, he focused on various technology industries at EarlyBird Capital, SouthEast Research Partners/Ryan Beck and Martin Simpson Research. Mr. Stoss received his B.A. in Financial Management from St. Thomas College and an M.B.A. from the University of Minnesota Carlson School of Management.

  • Research Coverage
  • CalAmp

  • Cirrus Logic

  • Digi International

  • Enovix

  • Immersion Corporation

  • indie Semiconductor

  • Knowles Corporation (KN)

  • ON Semiconductor

  • Qorvo

  • Silicon Motion

  • STMicroelectronics

  • Sierra Wireless

  • Skyworks Solutions

  • Synaptics

  • Alpha Select List
  • Acacia Research Corp

  • Airgain

  • Akoustis Technologies

  • Digital Turbine, Inc.

  • Indentiv, Inc.

  • VIA optronics

close popup
george sutton

George Sutton Partner Institutional Research

(612) 334-6331

Associate Analyst:
Adam Kelsey
(612) 334-6372

Associate Analyst:
James Rush
(612) 334-6373

George Sutton is a Partner and Senior Research Analyst in the Equity Research Department at Craig-Hallum Capital Group LLC, where he covers Technology-Enabled Services. Prior to C/H, he was a Managing Director in the Research Department at RBC Capital Markets and its predecessor Dain Rauscher Wessels. Before that Mr. Sutton worked on the buy-side with First Chicago Investment Management (now JP Morgan) and First Chicago Venture Capital (now Madison Dearborn Partners). Mr. Sutton received a B.S. in Finance from Indiana University in Bloomington and an M.B.A. from the Kellogg School at Northwestern University.

  • Research Coverage
  • ACI Worldwide

  • Agilysys

  • Anterix

  • Avaya

  • Cantaloupe

  • 8×8, Inc

  • eHealth

  • Everi Holdings Inc.

  • Green Dot

  • Hackett Group

  • Hut 8 Mining

  • MoneyLion

  • PAR Technology

  • RingCentral

  • Silvergate Capital

  • TeleTech Holdings

  • Vonage Holdings

  • Voyager Digital

  • Alpha Select List
  • Applied Blockchain Inc.

  • First Internet Bancorp

  • Kaleyra

  • Performant Financial

  • PFSweb

  • TransAct Technologies

close popup
jeff van rhee

Jeff Van Rhee Partner Institutional Research

(612) 334-6343

Associate Analyst:
Aaron Duke
(612) 334-6352

Jeff Van Rhee is a Partner and Senior Research Analyst in the Equity Research Department at Craig-Hallum Capital Group LLC, where he covers Software Centric technology companies. Previously, he was a Managing Director and Director of Research at Investec, an international investment bank headquartered in London. Mr. Van Rhee has been recognized several times by the Wall Street Journal, and others for the performance of his stock picks. Mr. Van Rhee received a B.A. in Finance and Economics from Central Michigan University. He is a CFA charterholder.

  • Research Coverage
  • Akamai Technologies

  • Cerence

  • Digimarc

  • Ebix

  • Edgio, Inc.

  • Fastly

  • LivePerson

  • Planet Labs

  • Rimini Street

  • SPS Commerce

  • Upland Software

  • Zendesk

  • Alpha Select List
  • Asure Software

  • eGain

  • GTY Technology Holdings

  • Intellicheck

  • Qumu

close popup
christian schwab

Christian Schwab Partner Senior Research Analyst Institutional Research

(612) 334-6337

Associate Analyst:
Tyler Burmeister
(612) 334-6336

Christian Schwab is a Senior Research Analyst in the Equity Research Department at Craig-Hallum Capital Group LLC, where he covers the Computer Hardware, Semiconductor and Telecommunications industries. Previously, he was a Managing Director in the Capital Markets Group at John G. Kinnard, a boutique investment bank based in Minneapolis. Mr. Schwab has been recognized several times by both the Wall Street Journal Best on the Street and Best Brokerage Analysts for his stock picking accuracy. Mr. Schwab received a B.A. degree from the University of Minnesota.

  • Research Coverage
  • Axcelis Technologies

  • ACM Research

  • Applied Materials

  • Advanced Micro Devices

  • A10 Networks

  • Calix

  • Cohu, Inc.

  • Dycom Industries

  • Entegris

  • Extreme Networks

  • Flextronics

  • FormFactor

  • Infinera

  • Kulicke & Soffa Industries

  • Marvell Technology Group

  • MasTec

  • Nokia

  • PDF Solutions

  • Sanmina-SCI

  • Seagate Technology

  • Teradyne

  • TTM Technologies

  • Ultra Clean Holdings

  • Western Digital Corporation

  • Alpha Select List
  • Aehr Test Systems

  • DASAN Zhone Solutions

  • Lantronix

  • QualTek Services, Inc.

  • Vuzix

close popup
richard rinkoff

Richard Rinkoff Director of Research

(612) 334-6385

Carnegie Mellon University, MBA and BS in Mathematics

close popup
chad bennett

Chad Bennett Senior Research Analyst

(612) 334-6366

Associate Analyst:
Nick Mattiacci
(612) 334-6384

Chad Bennett joined Craig-Hallum Capital Group as a Senior Analyst in 2011 and covers stocks in the software and hardware sectors. In 2011, he achieved Best on the Street status by the Wall Street Journal in Software. Previously, he was a senior analyst at Northland Capital Markets and Miller Johnson Steichen Kinnard (MJSK). Chad received his BA in Finance from University of St. Thomas.

  • Research Coverage
  • Box, Inc.

  • E2open Parent Holdings

  • Jamf Holding

  • Momentive Global

  • Model N

  • OneSpan Inc.

  • PagerDuty

  • PROS Holdings

  • Quotient

  • Teradata

  • Veritone

  • Varonis Systems

  • Zuora

close popup
jason kreyer

Jason Kreyer Senior Research Analyst

(612) 334-6328

Associate Analyst:

Jason Kreyer is a Senior Research Analyst at Craig-Hallum Capital Group. Mr. Kreyer covers the advertising technology, marketing technology, and real estate technology industries. Previously, he was a financial analyst at The Hartford. Mr. Kreyer holds a BBA in Financial Management from the University of North Dakota and an MBA from the University of St. Thomas.

  • Research Coverage
  • BuzzFeed

  • Cardlytics

  • Digital Media Solutions

  • Magnite

  • Porch Group

  • QuinStreet Inc.

  • LiveRamp Holdings

  • TechTarget

  • VIZIO Holding

  • Zeta Global Holdings Corp.

  • Zillow Group

  • Alpha Select List
  • Chicken Soup For The Soul Entertainment

  • comScore

close popup
richard shannon

Richard Shannon Senior Research Analyst

(612) 334-6339

Associate Analyst:
Sam Peterman
(612) 334-6326

Richard Shannon joined the Equity Research Department at Craig-Hallum Capital Group LLC as a Senior Research Analyst in 2011 and covers stocks in the semiconductor sector. He was the #1 ranked semiconductor analyst in the Wall Street Journal’s Best on the Street survey for 2009 and 2010. Previously, he was a senior analyst at Northland Capital Markets and Piper Jaffray, an associate at UBS, and was an operating systems programmer at IBM for four years. Richard received his BS in Computer & Electrical Engineering from Purdue University, an MBA from the Carlson School at the University of Minnesota and is a CFA charter holder.

  • Research Coverage
  • AEVA Technologies

  • Ambarella

  • AXT

  • Cepton, Inc.

  • Credo Technology Group, Ltd

  • II-VI

  • IonQ, Inc.

  • Luminar Technologies

  • Lumentum

  • Lattice Semiconductor

  • M/A-Com Technology Solutions

  • MaxLinear

  • Neophotonics


  • Navitas Semiconductor

  • Ouster

  • POET Technologies Inc.

  • Tower Semiconductor

  • Viavi

  • Vicor Corporation

  • Velodyne Lidar

  • Xperi

  • Alpha Select List
  • Applied Optoelectronics

  • Atomera


  • Everspin Technologies

  • Pixelworks

  • QuickLogic

  • SkyWater Technology Inc

  • Transphorm

close popup
matthew hewitt

Matthew Hewitt Senior Research Analyst

(612) 334-6314

Associate Analyst:
Lucas Baranowski
(612) 334-8224

Matt Hewitt is a Senior Research Analyst covering healthcare companies including a growing number targeting health care technology, specialty pharmaceuticals/generics and regenerative medicine/wound care. Thomson Reuters awarded him the #1 stock picker for Health Care Technology in 2018. Previously, he worked in the Internet Services, Software and Computer Peripherals research practice at Craig-Hallum and spent seven years at Advantus Capital Management. Mr. Hewitt received his M.B.A. and B.A. from the University of St. Thomas in St. Paul, Minnesota

  • Research Coverage
  • Avid Bioservices

  • Codexis

  • HealthStream

  • Ligand Pharmaceuticals

  • Inotiv

  • Omnicell

  • Repligen

  • Schrodinger

  • Simulations Plus

  • Surgalign Holdings

  • Teladoc, Inc.

  • Alpha Select List
  • Apollo Endosurgery

  • APYX Medical

  • Champions Oncology

  • CynergisTek

  • iSpecimen

  • Societal CDMO, Inc.

  • Science 37 Holdings, Inc.

  • Streamline Health

close popup

Alex Nowak Senior Research Analyst

(612) 334-6347

Associate Analyst:
Chase Knickerbocker
(612) 334-6335

Associate Analyst:
Connor Stevenson
(612) 334-6338

Alexander Nowak, CFA joined Craig-Hallum Capital Group as a Senior Research Analyst in 2018 and focuses on diagnostics, life science tools and medical technology companies. Prior to joining Craig-Hallum, Alex was an assistant vice president and research analyst at Piper Jaffray. Alex received his BA in Finance from University of St. Thomas and is a CFA charterholder.

  • Research Coverage
  • Accelerate Diagnostics

  • Bioventus, Inc.

  • CareDx

  • DermTech

  • Exact Sciences

  • InfuSystem Holding

  • NeoGenomics

  • Natera

  • Quidel

  • SmileDirectClub

  • Senseonics Holdings

  • Sientra

  • Stereotaxis

  • Bio-Techne

  • Tandem Diabetes Care

  • Alpha Select List
  • Alimera Sciences

  • Celcuity

  • DiaMedica Therapeutics

  • DarioHealth

  • KORU Medical Systems

  • Miromatrix Medical

  • NeuroOne Medical

  • Sensus Healthcare

  • Vivos Therapeutics

close popup
per ostlund

Per Ostlund Senior Research Analyst

(612) 334-6353

  • Alpha Select List
  • Chembio Diagnostics

  • iCAD

close popup
eric des lauriers

Eric Des Lauriers Senior Research Analyst

(617) 275-5177

Eric Des Lauriers joined Craig-Hallum Capital Group in 2016 as a Research Analyst focused on small and micro-cap companies within the consumer, gaming, and technology verticals. In 2019, Mr. Des Lauriers became a senior research analyst at Craig-Hallum Capital Group, while shifting his sector focus to the cannabis industry and selected organic / greenhouse produce and hydroponics-related companies. Mr. Des Lauriers holds a BBA in Finance from Boston University and a MS in Financing from Boston College.

  • Research Coverage
  • Curaleaf Holdings

  • The Parent Company

  • GrowGeneration

  • Green Thumb Industries

  • Innovative Industrial Properties

  • Trulieve Cannabis

  • Turning Point Brands

  • TerrAscend

  • Village Farms International

  • Alpha Select List
  • Agrify

  • Goodness Growth Holdings

  • urban-gro Inc.

close popup
alex fuhrman

Alex Fuhrman Senior Research Analyst

(612) 334-6360

Alex Fuhrman joined Craig-Hallum Capital Group in 2013 as a Senior Research Analyst, where he focuses on retailers and other consumer companies. Prior to joining Craig-Hallum, Mr. Fuhrman spent more than five years covering specialty retailers and department stores as an analyst at Raymond James and Piper Jaffray. Mr. Fuhrman holds a BS in Economics and an MBA in Finance from Tulane University in New Orleans, and is a CFA charterholder.

  • Research Coverage
  • Chegg

  • 1-800-FLOWERS

  • Lands’ End

  • Lindblad Expeditions Holdings

  • Lovesac

  • MillerKnoll

  • PLBY Group

  • Reservoir Media

  • SunOpta

  • Weight Watchers

  • Alpha Select List
  • BBQ Holdings

  • Barnes & Noble Education

  • Drive Shack

  • iMedia Brands

  • Lakeland Industries Inc.

  • Laird Superfood

  • Stryve Foods

  • Winc Inc.

  • Waitr Holdings

  • 22nd Century Group, Inc.

close popup
jeremy hamblin

Jeremy Hamblin Senior Research Analyst

(612) 334-6371

Associate Analyst:

Jeremy Hamblin joined Craig-Hallum Capital Group as a Senior Research Analyst in 2019, where he primarily covers the consumer sector. Prior to joining Craig-Hallum, Jeremy spent 6 years as a senior analyst at Dougherty & Company primarily covering the consumer sector. In addition, he had more than a decade of experience on the buy-side as an analyst and portfolio manager at Crown Advisors, Forefront Capital, Seamark Capital and Morgan Stanley Investment Management. He began his career with PricewaterhouseCoopers as an auditor and consultant in the assurance and advisory practice in New York City. Jeremy earned his BS in Business Administration from Bucknell University and earned an MBA from the Fuqua School of Business at Duke University. He is a CFA charterholder.

  • Research Coverage
  • Axon Enterprise

  • Boot Barn Holdings

  • Citi Trends

  • Five Below

  • Grocery Outlet Holding

  • The Joint

  • Ollie’s Bargain Outlet Holdings

  • Purple Innovation, Inc.

  • ShotSpotter

  • Carrols Restaurant Group

  • Alpha Select List
  • Aspen Group

  • Destination XL Group

  • Kirkland’s

  • Kura Sushi USA

close popup
greg palm

Greg Palm Senior Research Analyst

(612) 334-6355

Greg Palm is a Senior Research Analyst at Craig-Hallum Capital Group covering industrial technology and manufacturing companies. Mr. Palm holds a BA in Economics from Gustavus Adolphus College and a Master of Science in Finance from Boston College.

  • Research Coverage
  • Berkshire Grey

  • BlueLinx Holdings

  • Columbus McKinnon

  • Cavco Industries

  • 3D Systems

  • Desktop Metal

  • Faro Technologies

  • Kornit Digital

  • nLight, Inc

  • Markforged Holding

  • Ranpak Holdings

  • Proto Labs

  • Shapeways Holdings

  • Skyline Champion

  • Stratasys

  • Alpha Select List
  • Allied Motion Technologies

  • CyberOptics

  • DIRTT Environmental Solutions

  • Fathom Digital Manufacturing

  • Transcat

close popup

Ryan Sigdahl Partner Senior Research Analyst Institutional Research

(612) 334-6376

Ryan Sigdahl is a Senior Research Analyst at Craig-Hallum Capital Group, where he covers industrial technology, specialty consumer and online gaming companies. Prior to joining Craig-Hallum, Mr. Sigdahl was an audit senior at Deloitte. Mr. Sigdahl holds a BA in Economics-Finance and Accounting from Concordia College and is a CFA charterholder.

  • Research Coverage
  • Asbury Automotive Group

  • DraftKings

  • Daseke

  • GAN Limited

  • Genius Sports Group

  • Lithia Motors

  • Light & Wonder, Inc.

  • PlayStudios

  • Penn National Gaming


  • Rush Street Interactive

  • SciPlay

  • Sportsman’s Warehouse Holdings

  • Sportradar Group

  • Gentherm Incorporated

  • Alpha Select List
  • Full House Resorts

  • Hudson Technologies

  • Inspired Entertainment

  • Iteris

close popup
eric stine

Eric Stine Senior Research Analyst

(612) 334-6389

Associate Analyst:
Aaron Spychalla
(612) 334-6364

Eric Stine is a Senior Research Analyst in the Equity Research Department at Craig-Hallum Capital Group where he covers Clean Tech & Industrials. Mr. Stine has over 25 years of sell-side experience (including over a decade covering Clean Tech) and prior to joining Craig-Hallum in 2012 was a Senior Analyst at Northland Capital Markets and a Senior Trader at MJSK and R.J. Steichen. Mr. Stine has been recognized by Thomson Reuters for his stock picking abilities and earnings estimates, and received his BS in Finance from Miami University (Oxford, Ohio).

  • Research Coverage
  • AltAlto Ingredients

  • Ameresco

  • Apogee Enterprises

  • Aspen Aerogels

  • Blue Bird Corp.

  • Clean Energy Fuels Corp.

  • Enphase Energy

  • FuelCell Energy

  • Green Plains

  • Chart Industries

  • Origin Materials

  • PureCycle Technologies

  • Plug Power

  • Sono Group

  • TPI Composites

  • Westport Fuel Systems

  • Xebec Adsorption

  • Alpha Select List
  • American Superconductor

  • Broadwind

  • Nuvve Holding

  • Orbital Energy Group

  • Orion Energy Systems

  • Power Solutions

  • Vertex Energy

close popup

Robin Garner Senior Research Analyst

(612) 334-6332

Robin Garner is a Senior Research Analyst covering Specialty Pharma and Biotechnology from the Greenwich office. She brings more than 15 years of investment banking, private equity, and operating experience within the healthcare industry. Prior to joining Craig-Hallum, Robin was a Senior Research Analyst covering Immunology at LifeSci Capital. Her investment experience includes serving as Vice President at HighCape Partners and as an Analyst at Aisling Capital. Robin also held strategic planning and finance roles at Regeneron Pharmaceuticals. She began her career at Merrill Lynch in investment banking, where she completed over $1 billion in public and private financings for growth equity, M&A, and special situations. Robin received a B.S. in Molecular, Cellular, and Developmental Biology from Yale University

  • Research Coverage
  • Avadel Pharmaceuticals

  • Forma Therapeutics

  • Landos Biopharma

  • Alpha Select List
  • Cue Biopharma

  • Fennec Pharmaceuticals

  • Panbela Therapeutics

  • Processa Pharmaceuticals

  • Xeris Biopharma Holdings, Inc.

close popup

Aaron Spychalla Senior Research Analyst

(612) 334-6364

Aaron Spychalla is a Senior Research Analyst at Craig-Hallum Capital Group, where he covers Clean Tech & Industrials. Previously, he has worked in investment and financial analyst roles at Slocum & Associates (now a part of Mercer), Thomson Reuters, and Piper Jaffray. Mr. Spychalla holds a BA in both Finance and Accounting from Augsburg College and is a CFA charterholder.

  • Alpha Select List
  • Quest Resource Holding Corp.