Health Catalyst (HCAT), Portillo’s (PTLO), Tennant (TNC) Flagged as Risky Russell 2000 Bets

Three Russell 2000 constituents—Health Catalyst (NASDAQ:HCAT), Portillo’s (NASDAQ:PTLO), and Tennant (NYSE:TNC)—face heightened risks that may limit their investment appeal, according to a June 5, 2026, analysis. Small-cap stocks within the index carry elevated volatility, and these names exhibit financial metrics warranting caution. Health Catalyst, a healthcare data and analytics provider, trades at $1.93 per share, representing a forward price-to-sales multiple of just 0.4x. Its low valuation reflects ongoing concerns about its ability to scale clinical and operational outcomes. Restaurant chain Portillo’s, famous for Chicago-style hot dogs, changes hands at $3.82, implying a forward P/E ratio of 17.1x, which the report deems unattractive given competitive pressures. Meanwhile, cleaning-equipment manufacturer Tennant, the world’s largest autonomous mobile robot maker for the sector, sits at $84.76, or 14.6x forward earnings. Analysts suggest these stocks may underperform broader small-cap alternatives.