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Below is a list of current high-flying stocks that look undervalued.

Clean Diesel Technologies (CDTI)

With revenue/share of $38, price/sales 0.32, and price/book of 1.01, this stock looks like a bargain at $7.60, despite jumping on news of $2 million in orders and a supply deal to China. The second is big news, because China has overtaken the United States as the largest auto market in the world. Revenue/share is nearly five times that of the share price. First quarter revenue was $13.8 million, up 11.3% compared to the prior year. Given that the company’s market cap is $30 million, first quarter revenue is only 0.43 times market cap. And given environmental concerns and global warming, business in this cleantech emissions reduction company will continue to rise. Short interest has fallen by 20,000 shares in the last month. Though shares have already jumped, they are far below their 52-week high near $40.

Spar Group (SGRP)

With revenue/share of $3.44 and price/sales 0.43, this stock looks like a bargain at $1.47. Insiders have been purchasing stock. The company recently announced a 25% increase in revenue and a 600% increase in net income for first quarter 2011. The business service provider may benefit from little direct competitors in the field.

Kronos Worldwide (KRO) and Valhi (VHI)

With a PEG of 0.47, KRO is selling for half off. But a big driver for the stock is the current short squeeze in titanium dioxide. KRO is the largest producer of titanium dioxide. This chemical squeeze can last several years, meaning the stock has more room to grow. VHI, the second largest producer, is also benefiting from the squeeze. But the company also is developing a chemical to help dispose of nuclear waste.

Uranium Resources (URRE) and Uranerz Energy (URZ)

Almost all uranium miners have pulled back from their highs, but this is likely a consolidation phase. Uranium will become more in demand due to China’s increasing appetite for nuclear fuel along with the world’s need for the fuel. Two miners stand out. URRE has mines and proven reserves. URZ has no debt. And each seemed to have form a bottom in their chart and are ready to head higher.

Source: 6 Current Undervalued High-Fliers