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10 Best Technology Penny Stocks to Buy

In this piece, we will take a look at the ten best technology penny stocks to buy. If you want to skip our analysis of the technology industry, then head on over to 5 Best Technology Penny Stocks to Buy.

Technology is one of the biggest industries in the world and one that has been the most consequential to modern day life. Everyday items such as the smartphone have changed the way we live our lives from just a couple of decades back. At the same time, technology has enabled faster decision making and quicker information dissemination globally – contributing to the formation of a global village.

Naturally, this also means that technology companies are some of the biggest in the world both in terms of market capitalization and revenue. Some well known corporate giants which provide products and services related to networking, connectivity, and computing bring in billions of dollars in revenue each year. Some examples include Apple Inc. (NASDAQ:AAPL) which raked in $394 billion in revenue during its latest fiscal year, Microsoft Corporation (NASDAQ:MSFT) $198 billion during the 12 months ending in June 2022, Alphabet Inc. (NASDAQ:GOOG) brought in $282 billion, and Meta Platforms, Inc. (NASDAQ:META) earned $116 billion through net sales.

Due to the massive potential offered by technology, the sector is still expected to continue to grow despite the billions of dollars in revenue that the biggest firms bring in. According to research from Gartner, global information technology spending is slated to sit at a whopping $4.5 trillion this year, marking a 2.4% growth that was hampered by inflation and a tough macroeconomic environment, as it fell short of Gartner’s estimates of a 5.1% annual growth. Within the spending estimates for 2023, software takes the largest share, with firms expected to funnel in $2.16 trillion this year.

So what is business software? Well, one major chunk of this spending goes towards enterprise computing platforms such as those offered by Oracle Corporation (NYSE:ORCL). These enable companies to streamline their operations, such as supply chain management, payroll, and human resource management. Other software spending goes to cloud computing platforms offered by Microsoft and Amazon.com, Inc. (NASDAQ:AMZN).

These latter bit of services are among the handful that is climbing up on the hype train surrounding artificial intelligence. Microsoft has made a couple of important announcements in this area. One of these includes a slew of upgrades to the Microsoft Cloud platform for nonprofits. These upgrades introduce an artificial intelligence assistant to manage virtual meetings and draft emails through data gathered from previous customer relationship management (CRM) use cases. Another upgrade focuses on the financial sector, with the technology firm having teamed up with the credit ratings agency Moody’s to develop an AI powered tool for consolidating information from multiple sources to generate economic forecasts, credit risks, and reputational assessments.

On the other end of the technology spectrum, firms such as Grab Holdings Limited (NASDAQ:GRAB) are taking their own approach to technology. Grab, which offers a multitude of different applications under a single umbrella, is aiming to completely eradicate food packaging waste from its ecosystem by 2040. The firm has already reduced 23,800 tons of waste to date by encouraging the use of reusable cutlery among other strategies.

Since the world is all about artificial intelligence, the video streaming platform Vimeo, Inc. (NASDAQ:VMEO) is using AI to help creators make videos. Its new suite of tools that use AI will allow video makers to generate video scripts, fine tune videos by automatically removing elements such as a long pause, and use a built in display to easily narrate and keep eye contact with the camera.

Switching gears, there are nearly countless technology stocks that one can pick for investing. While investing should always be done after consulting a qualified professional, it does not hurt to look at the different kinds of stocks on the market. Even though today’s piece will look at penny stocks, there are other kinds as well. One such category is cheap technology stocks – belonging to firms that do not have a significant difference between their share price and earnings per share. This indicates that the market does not believe their business model provides a significant upside for growth – but, on the flip side, these firms also tend to be quite stable at maintaining value. If you’re interested, some cheap technology stocks that we’ve identified include Taoping Inc. (NASDAQ:TAOP), Arqit Quantum Inc. (NASDAQ:ARQQ), and CXApp Inc. (NASDAQ:CXAI).

But what if you wanted to look at what billionaires are doing and wanted to earn money through dividends? Well, after sifting through securities filings, some top technology dividend stocks that are popular with billionaires include none other than Microsoft Corporation (NASDAQ:MSFT), NVIDIA Corporation (NASDAQ:NVDA), and Applied Materials, Inc. (NASDAQ:AMAT).

Since there are literally thousands of technology companies, it’s difficult to gauge what is going on in the broader industry by looking at a single firm. However, firms such as Accenture plc (NYSE:ACN) which deal in the broader information technology sector can provide valuable insights. Therefore, here’s what the firm’s management had to say during its latest earnings call:

Finally, moving to the metaverse and the ongoing tech revolution. We’ve talked about the importance of artificial intelligence in building the digital core for our clients. While generative AI has recently burst into the popular imagination, at Accenture, we’ve been working with the technology from its earliest stages and are already applying it at clients. For example, we’re working with a multinational bank to transform how it manages high volumes of post-trade processing e-mails every day. We are leveraging a generative AI solution as it is built to understand the context of e-mails with high accuracy. It automatically routes large numbers of e-mails, daily to relevant teams and draft responses with recommended actions and related information.

Our work will help reduce manual effort and risk, boost worker efficiency and improve interactions with customers. And finally, on that note, we will release our Tech Vision 2023 on March 30. The 4th and 5th key forces of change we have identified for the next decade at a metaverse and ongoing tech revolution. And this year’s tech vision is particularly relevant and actionable as our clients face a rapidly changing landscape in which generative AI, metaverse cloud, science, tech and other technologies are driving more opportunities for change and reinvention. This year’s vision will explore how these technologies and more are blending the physical world and the virtual world into a shared reality, creating a huge opportunity for our clients and for Accenture.

With these details in mind, let’s take a look at some best technology penny stocks according to hedge funds.

Our Methodology

To compile our list of the best technology penny stocks, we first narrowed down forty stocks with a share price lesser than $5 and the highest market capitalization among their peers. Then, the number of hedge funds that had invested in their shares as of Q1 2023 courtesy of Insider Monkey’s database was determined. Finally, the firms were ranked by hedge fund sentiment and the top ten technology penny stocks are as follows.

10 Best Technology Penny Stocks to Buy

10. GoPro, Inc. (NASDAQ:GPRO)

Number of Q1 2023 Hedge Fund Investors: 19

GoPro, Inc. (NASDAQ:GPRO) is one of the most popular companies among extreme sports lovers. Its portable and mountable cameras allow users to record real time footage. It also provides a subscription service allowing users to edit and manage their content.

As of 2023’s first quarter, 19 of the 943 hedge funds part of Insider Monkey’s database had held a stake in GoPro, Inc. (NASDAQ:GPRO). Out of these, the firm’s largest shareholder is D. E. Shaw’s D E Shaw with a $20 million stake.

Along with Grab Holdings Limited (NASDAQ:GRAB), Vimeo, Inc. (NASDAQ:VMEO), and Marqeta, Inc. (NASDAQ:MQ), GoPro, Inc. (NASDAQ:GPRO) is a hot technology penny stock finding favor from hedge funds.

9. LivePerson, Inc. (NASDAQ:LPSN)

Number of Q1 2023 Hedge Fund Investors: 20

LivePerson, Inc. (NASDAQ:LPSN) sits right at the heart of today’s hottest technology scene, conversational artificial intelligence. It uses this to facilitate the interaction between businesses and customers, and the firm announced in June 2023 that it will help healthcare clinics manage their call volumes.

After digging through 943 hedge fund portfolios for their March quarter of 2023 shareholdings, Insider Monkey discovered that 20 had bought and invested in the firm. Jeffrey Smith’s Starboard Value LP is LivePerson, Inc. (NASDAQ:LPSN)’s biggest shareholder through owning $10 million worth of shares.

8. Aurora Innovation, Inc. (NASDAQ:AUR)

Number of Q1 2023 Hedge Fund Investors: 21

Aurora Innovation, Inc. (NASDAQ:AUR) is an American firm that is developing a self driving system. This aims to consolidate multiple driving platforms under a single umbrella, and the company announced in June 2023 that it is making its dataset of self driving information available to academics to spur research in the arena.

As of Q1 2023, 21 out of the 943 hedge funds part of Insider Monkey’s database had held a stake in Aurora Innovation, Inc. (NASDAQ:AUR).

7. Nerdy, Inc. (NYSE:NRDY)

Number of Q1 2023 Hedge Fund Investors: 22

Nerdy, Inc. (NYSE:NRDY) is a software company headquartered in Saint Louis, Missouri. Its platform allows parents and students to connect with educators. The firm’s first quarter results saw it raise its revenue guidance to a high end of $200 million for a 21% midpoint growth.

22 of the 943 hedge funds portfolios studied by Insider Monkey for their March quarter of 2023 shareholdings had invested in Nerdy, Inc. (NYSE:NRDY).

6. 8×8, Inc. (NASDAQ:EGHT)

Number of Q1 2023 Hedge Fund Investors: 23

8×8, Inc. (NASDAQ:EGHT) is a software company that provides an application programming interface (API) to businesses and other entities for communications purposes. It’s having a good 2023 so far, with several firms deploying its services.

After digging through 943 hedge funds for their Q1 2023 investments, Insider Monkey found out that 23 had held a stake in the company. Daniel Patrick Gibson’s Sylebra Capital Management is 8×8, Inc. (NASDAQ:EGHT)’s biggest hedge fund investor since it owns a $60 million stake.

Vimeo, Inc. (NASDAQ:VMEO), 8×8, Inc. (NASDAQ:EGHT), Grab Holdings Limited (NASDAQ:GRAB), and Marqeta, Inc. (NASDAQ:MQ) make it to our list of best technology penny stocks.

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Disclosure: None. 10 Best Technology Penny Stocks to Buy is originally published on Insider Monkey.

AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

AI is eating the world—and the machines behind it are ravenous.

Each ChatGPT query, each model update, each robotic breakthrough consumes massive amounts of energy. In fact, AI is already pushing global power grids to the brink.

Wall Street is pouring hundreds of billions into artificial intelligence—training smarter chatbots, automating industries, and building the digital future. But there’s one urgent question few are asking:

Where will all of that energy come from?

AI is the most electricity-hungry technology ever invented. Each data center powering large language models like ChatGPT consumes as much energy as a small city. And it’s about to get worse.

Even Sam Altman, the founder of OpenAI, issued a stark warning:

“The future of AI depends on an energy breakthrough.”

Elon Musk was even more blunt:

“AI will run out of electricity by next year.”

As the world chases faster, smarter machines, a hidden crisis is emerging behind the scenes. Power grids are strained. Electricity prices are rising. Utilities are scrambling to expand capacity.

And that’s where the real opportunity lies…

One little-known company—almost entirely overlooked by most AI investors—could be the ultimate backdoor play. It’s not a chipmaker. It’s not a cloud platform. But it might be the most important AI stock in the US owns critical energy infrastructure assets positioned to feed the coming AI energy spike.

As demand from AI data centers explodes, this company is gearing up to profit from the most valuable commodity in the digital age: electricity.

The “Toll Booth” Operator of the AI Energy Boom

  • It owns critical nuclear energy infrastructure assets, positioning it at the heart of America’s next-generation power strategy.
  • It’s one of the only global companies capable of executing large-scale, complex EPC (engineering, procurement, and construction) projects across oil, gas, renewable fuels, and industrial infrastructure.
  • It plays a pivotal role in U.S. LNG exportation—a sector about to explode under President Trump’s renewed “America First” energy doctrine.

Trump has made it clear: Europe and U.S. allies must buy American LNG.

And our company sits in the toll booth—collecting fees on every drop exported.

But that’s not all…

As Trump’s proposed tariffs push American manufacturers to bring their operations back home, this company will be first in line to rebuild, retrofit, and reengineer those facilities.

AI. Energy. Tariffs. Onshoring. This One Company Ties It All Together.

While the world is distracted by flashy AI tickers, a few smart investors are quietly scooping up shares of the one company powering it all from behind the scenes.

AI needs energy. Energy needs infrastructure.

And infrastructure needs a builder with experience, scale, and execution.

This company has its finger in every pie—and Wall Street is just starting to notice.

Wall Street is noticing this company also because it is quietly riding all of these tailwinds—without the sky-high valuation.

While most energy and utility firms are buried under mountains of debt and coughing up hefty interest payments just to appease bondholders…

This company is completely debt-free.

In fact, it’s sitting on a war chest of cash—equal to nearly one-third of its entire market cap.

It also owns a huge equity stake in another red-hot AI play, giving investors indirect exposure to multiple AI growth engines without paying a premium.

And here’s what the smart money has started whispering…

The Hedge Fund Secret That’s Starting to Leak Out

This stock is so off-the-radar, so absurdly undervalued, that some of the most secretive hedge fund managers in the world have begun pitching it at closed-door investment summits.

They’re sharing it quietly, away from the cameras, to rooms full of ultra-wealthy clients.

Why? Because excluding cash and investments, this company is trading at less than 7 times earnings.

And that’s for a business tied to:

  • The AI infrastructure supercycle
  • The onshoring boom driven by Trump-era tariffs
  • A surge in U.S. LNG exports
  • And a unique footprint in nuclear energy—the future of clean, reliable power

You simply won’t find another AI and energy stock this cheap… with this much upside.

This isn’t a hype stock. It’s not riding on hope.

It’s delivering real cash flows, owns critical infrastructure, and holds stakes in other major growth stories.

This is your chance to get in before the rockets take off!

Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries.

The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust.

As an investor, you want to be on the side of the winners, and AI is the winning ticket.

The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI.

From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field.

This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements.

By investing in AI, you’re essentially backing the future.

The future is powered by artificial intelligence, and the time to invest is NOW.

Don’t be a spectator in this technological revolution.

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A New Dawn is Coming to U.S. Stocks

I work for one of the largest independent financial publishers in the world – representing over 1 million people in 148 countries.

We’re independently funding today’s broadcast to address something on the mind of every investor in America right now…

Should I put my money in Artificial Intelligence?

Here to answer that for us… and give away his No. 1 free AI recommendation… is 50-year Wall Street titan, Marc Chaikin.

Marc’s been a trader, stockbroker, and analyst. He was the head of the options department at a major brokerage firm and is a sought-after expert for CNBC, Fox Business, Barron’s, and Yahoo! Finance…

But what Marc’s most known for is his award-winning stock-rating system. Which determines whether a stock could shoot sky-high in the next three to six months… or come crashing down.

That’s why Marc’s work appears in every Bloomberg and Reuters terminal on the planet…

And is still used by hundreds of banks, hedge funds, and brokerages to track the billions of dollars flowing in and out of stocks each day.

He’s used this system to survive nine bear markets… create three new indices for the Nasdaq… and even predict the brutal bear market of 2022, 90 days in advance.

Click to continue reading…