10 Best AI Penny Stocks to Buy According to Analysts

3. Rekor Systems Inc. (NASDAQ:REKR)

Average Upside Potential: 324.53%

Share Price as of November 5: $1.08

Number of Hedge Fund Holders: 9

Rekor Systems Inc. (NASDAQ:REKR) provides innovative infrastructure solutions for the transportation, public safety, and urban mobility sectors. It offers a suite of AI-powered platforms designed to enhance roadway intelligence and traffic management. Key products include Rekor One, an AI-powered roadway intelligence platform, and Rekor Command, a cloud-based platform for traffic management centers and first responders. It also provides automated vehicle recognition technologies, facilitating efficient traffic enforcement and management

The company was recognized by ITS America as a leader in AI for digital infrastructure and transportation. Rekor Command reduced secondary crashes by 29% and improved incident response times by 44 minutes in the second quarter of 2024. Overall growth at the company is supported by increased contracts, expanded services, and strategic financing.

It secured a $1.5 million contract with Maryland DOT to deploy Discover across major corridors. It has also expanded into Colorado’s Pitkin County and secured over $15 million in new contracts, expanding its reach to Ohio and Texas. These deals will use AI to improve traffic management and road planning. The company is rapidly growing in the Baltimore area and has recently been granted several new technology patents, highlighting its dedication to developing AI-powered insights.

Rekor Systems Inc.’s (NASDAQ:REKR) focus on AI-driven solutions, strategic partnerships, and expanding market reach positions the company for continued growth and success. It still faces liquidity challenges and relies on external financing, but analysts are optimistic about its future.