11 Best Artificial Intelligence Stocks Under $20 According To Hedge Funds

Published on March 7, 2024 at 6:17 am by Hamna Asim in Hedge Funds, News

In this article, we discuss 11 best artificial intelligence stocks under $20. If you want to skip our discussion on the AI industry, head directly to 5 Best Artificial Intelligence Stocks Under $20 According To Hedge Funds.

As we move into 2024, the impact of artificial intelligence is expected to grow even further, following the significant strides made in 2023. With generative AI becoming increasingly familiar to employees over the past year, there is a greater readiness to grasp its role in today’s work environment and embrace the opportunities it presents, as per BBC. AI holds potential to be a significant tool for workers with disabilities, which could drive positive change for all. Victor Santiago Pineda, director of the Inclusive Cities Lab at UC Berkeley, observed that many machine-learning tools developed to assist disabled workers could become more widely accessible, benefiting everyone. For instance, advancements like real-time, multilingual closed captioning from large language models can offer a broader range of information access to all individuals. Pineda commented:

“AI-powered assistive technologies have the potential to break down barriers and empower individuals with disabilities, fostering a sense of independence and inclusion.”

Human-resource professionals are ready to use AI to create fairer hiring processes, although there are ongoing efforts to reduce bias in AI algorithms used in hiring and HR. Companies like Deloitte are using AI to retain talent, reallocating budgets and moving workers to more suitable roles to avoid layoffs, which could particularly benefit marginalized groups. The development of AI may also lead regulators to focus more on funding worker inclusion practices and ensuring workers’ rights. While concerns about AI replacing jobs are valid, experts believe that workers will adapt and coexist with AI, especially those willing to learn and adapt. This may necessitate retraining and employer-supported learning opportunities. A 2023 survey by ‘Jobs for the Future’s Center for Artificial Intelligence & the Future of Work’ highlighted the widespread acknowledgment of the need for new skills to thrive in an AI-driven workforce. However, as AI becomes more pervasive, there is a call for clear boundaries and regulations to safeguard the rights and occupations of a diverse workforce. Establishing a successful regulatory framework will require collaboration among corporations, governments, and academic researchers on a global scale.

According to a UBS report, the tech industry is at the early stages of a substantial growth phase, with the broader adoption of artificial intelligence set to turn it into a $225 billion market by 2027. This represents a significant increase from just $2.2 billion in 2022, indicating a compound annual growth rate of nearly 152%. The AI sector is expected to experience a corresponding 15-fold revenue surge, climbing from $18 billion in 2022 to $420 billion in 2027. This forecast reflects a 40% upward revision from UBS‘ previous estimates, which they now consider to have been too cautious. The anticipated surge in demand will be particularly beneficial for AI software, driving a 138% CAGR for the application sector. In 2024, the largest beneficiaries of increased spending will be hardware chips and GPUs used to train and run AI. This surge in spending is expected to provide a significant boost for semiconductor and platform companies, with industry revenues projected to increase from $15.8 billion to $165 billion. While some investors may have concerns about the growing regulatory focus on AI, implementing rules earlier rather than later is preferable to avoid restrictions on growth.

Paul Daugherty, Accenture chief technology and innovation officer, discussed his outlook for generative AI in 2024. He spoke with Ed Ludlow and Caroline Hyde on “Bloomberg Technology”. Daugherty stated:

“Our role in this is, we help companies deploy technology solutions and generative AI clearly is the hot ticket right now. 95% of executives tell us they are going to increase the spending on technology as they go into 2024, and 97% of executives believe generative AI is transformative for the business that they are doing. Based on the research that we have done, we see that impacting 44% of all the working hours across industries globally, and that adds up to about $8 to $10 trillion of economic value over the next several years as companies adopt generative AI.”

In this article, we discuss the best artificial intelligence stocks under $20, which include Sprinklr, Inc. (NYSE:CXM), Evolv Technologies Holdings, Inc. (NASDAQ:EVLV), and Nerdy, Inc. (NYSE:NRDY).

Our Methodology

For this article, we used a screener to identify artificial intelligence stocks under $20, and then selected the following stocks based on hedge fund sentiment toward each stock. We have assessed the hedge fund sentiment from Insider Monkey’s database of 933 elite hedge funds tracked as of the end of the fourth quarter of 2023. The list is arranged in ascending order of the number of hedge fund investors in each firm. Hedge funds’ top 10 consensus stock picks outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here).

A computer screen showcasing Artificial Intelligence and Machine Learning algorithms at work.

Best Artificial Intelligence Stocks Under $20 According To Hedge Funds

11. Lantern Pharma Inc. (NASDAQ:LTRN)

Share Price as of March 6: $5.73

Number of Hedge Fund Holders: 4

Lantern Pharma Inc. (NASDAQ:LTRN), a biotech firm in the clinical stage, uses artificial intelligence, machine learning, and genomic data to make drug development more efficient. Their AI platform RADR uses big data analytics and machine learning to analyze molecular data. Founded in 2013, the company is based in Dallas, Texas.

On November 30, shares of Lantern Pharma Inc. (NASDAQ:LTRN) surged up to 8% in premarket trading following the company’s receipt of FDA Orphan Drug Designation for its lymphoma drug candidate.

According to Insider Monkeys’ fourth quarter database, 4 hedge funds were bullish on Lantern Pharma Inc. (NASDAQ:LTRN), same as the preceding quarter. Clint Carlson’s Carlson Capital is the largest shareholder of the firm, with 60,000 shares valued at $256,800.

In addition to Sprinklr, Inc. (NYSE:CXM), Evolv Technologies Holdings, Inc. (NASDAQ:EVLV), and Nerdy, Inc. (NYSE:NRDY), Lantern Pharma Inc. (NASDAQ:LTRN) is one of the best AI stocks under $20.

10. Innodata Inc. (NASDAQ:INOD)

Share Price as of March 6: $7.5

Number of Hedge Fund Holders: 7

Innodata Inc. (NASDAQ:INOD) is a global data engineering company that operates in the United States, the United Kingdom, Canada, the Netherlands, internationally. The company is divided into three segments – Digital Data Solutions (DDS), Synodex, and Agility. The DDS segment offers AI data preparation services, collects or creates training data, annotates training data, and trains AI algorithms for its customers. Additionally, it provides AI model deployment and integration services. Innodata Inc. (NASDAQ:INOD) is one of the best AI stocks. On February 22, Innodata Inc. (NASDAQ:INOD) announced a Q4 GAAP EPS of $0.05 and a revenue of $26.11 million.

According to Insider Monkeys’ fourth quarter database, 7 hedge funds were bullish on Innodata Inc. (NASDAQ:INOD), up from 5 funds in the last quarter. Josh Goldberg’s G2 Investment Partners Management held the largest position in the company, with 125,000 shares worth $1.02 million.

9. Nokia Oyj (NYSE:NOK)

Share Price as of March 6: $3.65

Number of Hedge Fund Holders: 11

Nokia Oyj (NYSE:NOK) offers mobile, fixed, and cloud network solutions globally, operating across four segments – Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company emphasizes responsible AI practices, providing AI solutions that cover core network operations and security. Ranked among the best AI stocks, Nokia Oyj (NYSE:NOK)’s offerings are the AVA AI & Analytics software solutions, which have won awards and are cloud-based, allowing for flexibility in deployment and enabling the monetization of network investments.

On February 14, Nokia Oyj (NYSE:NOK) introduced a new AI-driven tool designed for industrial workers. This tool generates messages that include real-time data warnings about malfunctioning machinery and suggestions to improve factory productivity.

According to Insider Monkeys’ fourth quarter database, 11 hedge funds were bullish on Nokia Oyj (NYSE:NOK), in contrast to the previous quarter when 17 funds had invested in the stock. Richard S. Pzena’s Pzena Investment Management is the biggest stakeholder of the firm, with 52.3 million shares worth $179 million.

Artisan International Value Fund made the following comment about Nokia Oyj (NYSE:NOK) in its second quarter 2023 investor letter:

“Nokia Oyj (NYSE:NOK) is the world’s third-largest provider of telecommunications equipment. The company sells its products to service providers, such as AT&T and Vodaphone. While we have held the stock, new management has simultaneously improved competitiveness and reduced costs—a remarkable achievement that has resulted in improved growth and profitability. Despite that, the share price has declined, and the valuation multiple has shrunk below 10X forward earnings. The reason is that telecommunications operators are cutting back on investment. Higher interest rates, inflation and competition are eating into customer cash flows, resulting in less capital spending. For now, Nokia will experience reduced demand. At some point, the ever-increasing need for wire and wireless bandwidth will force service providers to increase investment. In addition, Nokia’s market share is improving due to geopolitical changes and improved market competitiveness. The share price declined by 15% during the quarter.”

8. FiscalNote Holdings, Inc. (NYSE:NOTE)

Share Price as of March 6: $2.08

Number of Hedge Fund Holders: 11

FiscalNote Holdings, Inc. (NYSE:NOTE) is one of the best AI stocks and functions as a technology company that merges artificial intelligence, machine learning, and other technological tools with analytics, workflow aids, and expert research. Through its range of public policy and issues management products, FiscalNote Holdings, Inc. (NYSE:NOTE) provides intelligence to manage workflows, advocacy efforts, and relationships with constituents.

On November 20, FiscalNote Holdings, Inc. (NYSE:NOTE) saw a 26% increase following news that the company’s CEO had a meeting with the board to discuss a possible takeover offer.

According to Insider Monkeys’ fourth quarter database, 11 hedge funds were bullish on FiscalNote Holdings, Inc. (NYSE:NOTE), compared to 13 funds in the previous quarter.

7. Rekor Systems, Inc. (NASDAQ:REKR)

Share Price as of March 6: $2.35

Number of Hedge Fund Holders: 12

Placed 7th among our list of the best AI stocks, Rekor Systems, Inc. (NASDAQ:REKR) is a technology company that offers intelligent infrastructure solutions for transportation management, public safety, and urban mobility markets worldwide. They utilize artificial intelligence, machine learning, and comprehensive data to support smart mobility infrastructure. The company was founded in 2017 and is headquartered in Columbia, Maryland.

On February 26, Rekor Systems, Inc. (NASDAQ:REKR) declared its plan to redeem all $12.5 million of its existing senior secured notes ahead of schedule. The redemption of these notes was set to take place on March 4.

According to Insider Monkeys’ fourth quarter database, 12 hedge funds were bullish on Rekor Systems, Inc. (NASDAQ:REKR), an increase from 9 funds in the prior quarter.

Here is what Evermore Global Advisors has to say about Rekor Systems, Inc. (NASDAQ:REKR) in its Q2 2021 investor letter:

“Rekor Systems Inc. (REKR US). In February 2021,the Fund participated in a primary offering of shares in Rekor, a US-based technology company focused on vehicle identification systems sold to government entities. Shares proceeded to nearly double in short order, and we sold the position in mid-April for a sizable gain. When markets hand you a gift, sometimes it’s best to ring the cash register.”

6. SoundHound AI, Inc. (NASDAQ:SOUN)

Share Price as of March 6: $5.23

Number of Hedge Fund Holders: 13

SoundHound AI, Inc. (NASDAQ:SOUN) creates distinct voice artificial intelligence solutions for businesses in automotive, TV, IoT, and customer service sectors. These solutions help deliver top-notch conversational experiences to customers. Established in 2005, SoundHound AI, Inc. (NASDAQ:SOUN) is based in Santa Clara, California.

On February 29, SoundHound AI, Inc. (NASDAQ:SOUN) announced a Q4 GAAP EPS of -$0.07 and a revenue of $17.15 million, but they fell short of Wall Street estimates by $0.01 and $0.6 million, respectively.

According to Insider Monkeys’ fourth quarter database, 13 hedge funds were bullish on SoundHound AI, Inc. (NASDAQ:SOUN), up from 10 in the preceding quarter.

Like Sprinklr, Inc. (NYSE:CXM), Evolv Technologies Holdings, Inc. (NASDAQ:EVLV), and Nerdy, Inc. (NYSE:NRDY), SoundHound AI, Inc. (NASDAQ:SOUN) is one of the best AI stocks under $20.

Click to continue reading and see 5 Best Artificial Intelligence Stocks Under $20 According To Hedge Funds.

AI Fire Sale: Insider Monkey’s #1 AI Stock Pick Is On A Steep Discount

Published on October 30, 2024 at by Inan Dogan, PhD

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!

The whispers are turning into roars.

Artificial intelligence isn’t science fiction anymore.

It’s the revolution reshaping every industry on the planet.

From driverless cars to medical breakthroughs, AI is on the cusp of a global explosion, and savvy investors stand to reap the rewards.

Here’s why this is the prime moment to jump on the AI bandwagon:

Exponential Growth on the Horizon: Forget linear growth – AI is poised for a hockey stick trajectory.

Imagine every sector, from healthcare to finance, infused with superhuman intelligence.

We’re talking disease prediction, hyper-personalized marketing, and automated logistics that streamline everything.

This isn’t a maybe – it’s an inevitability.

Early investors will be the ones positioned to ride the wave of this technological tsunami.

Ground Floor Opportunity: Remember the early days of the internet?

Those who saw the potential of tech giants back then are sitting pretty today.

AI is at a similar inflection point.

We’re not talking about established players – we’re talking about nimble startups with groundbreaking ideas and the potential to become the next Google or Amazon.

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.

Dive into the AI gold rush and watch your portfolio soar alongside the brightest minds of our generation.

This isn’t just about making money – it’s about being part of the future.

So, buckle up and get ready for the ride of your investment life!

Act Now and Unlock a Potential 10,000% Return: This AI Stock is a Diamond in the Rough (But Our Help is Key!)

The AI revolution is upon us, and savvy investors stand to make a fortune.

But with so many choices, how do you find the hidden gem – the company poised for explosive growth?

That’s where our expertise comes in.

We’ve got the answer, but there’s a twist…

Imagine an AI company so groundbreaking, so far ahead of the curve, that even if its stock price quadrupled today, it would still be considered ridiculously cheap.

That’s the potential you’re looking at. This isn’t just about a decent return – we’re talking about a 10,000% gain over the next decade!

Our research team has identified a hidden gem – an AI company with cutting-edge technology, massive potential, and a current stock price that screams opportunity.

This company boasts the most advanced technology in the AI sector, putting them leagues ahead of competitors.

It’s like having a race car on a go-kart track.

They have a strong possibility of cornering entire markets, becoming the undisputed leader in their field.

Here’s the catch (it’s a good one): To uncover this sleeping giant, you’ll need our exclusive intel.

We want to make sure none of our valued readers miss out on this groundbreaking opportunity!

That’s why we’re slashing the price of our Premium Readership Newsletter by a whopping 70%.

For a ridiculously low price of just $29, you can unlock a year’s worth of in-depth investment research and exclusive insights – that’s less than a single restaurant meal!

Here’s why this is a deal you can’t afford to pass up:

• Access to our Detailed Report on this Game-Changing AI Stock: Our in-depth report dives deep into our #1 AI stock’s groundbreaking technology and massive growth potential.

• 11 New Issues of Our Premium Readership Newsletter: You will also receive 11 new issues and at least one new stock pick per month from our monthly newsletter’s portfolio over the next 12 months. These stocks are handpicked by our research director, Dr. Inan Dogan.

• One free upcoming issue of our 70+ page Quarterly Newsletter: A value of $149

• Bonus Reports: Premium access to members-only fund manager video interviews

• Ad-Free Browsing: Enjoy a year of investment research free from distracting banner and pop-up ads, allowing you to focus on uncovering the next big opportunity.

• 30-Day Money-Back Guarantee: If you’re not absolutely satisfied with our service, we’ll provide a full refund within 30 days, no questions asked.

Space is Limited! Only 1000 spots are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment.

Here’s what to do next:

1. Head over to our website and subscribe to our Premium Readership Newsletter for just $29.

2. Enjoy a year of ad-free browsing, exclusive access to our in-depth report on the revolutionary AI company, and the upcoming issues of our Premium Readership Newsletter over the next 12 months.

3. Sit back, relax, and know that you’re backed by our ironclad 30-day money-back guarantee.

Don’t miss out on this incredible opportunity! Subscribe now and take control of your AI investment future!

Subscribe Now!

No worries about auto-renewals! Our 30-Day Money-Back Guarantee applies whether you’re joining us for the first time or renewing your subscription a year later!

A New Dawn is Coming to U.S. Stocks

Published on November 16, 2024 at by Insider Monkey Staff

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…

Insider Monkey Ads

Markets

Insider Trading

Hedge Funds

Retirement

Opinion

Log In

Sign Up