5 Artificial Intelligence Stocks Under $10

In this article, we discuss the 5 best artificial intelligence stocks to invest in that are under $10. If you want to see more stocks in this selection as well as get some insight into the market, click 10 Artificial Intelligence Stocks Under $10.

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

Share Price as of July 5: $1.85

Number Of Hedge Fund Holders: 5

Rekor Systems, Inc. (NASDAQ:REKR), through its subsidiaries, develops and implements transformative mission-critical intelligent infrastructure solutions and services for transportation management, public safety, and commercial markets in the United States, Canada, and internationally. The company makes use of its Rekor One platform, an AI-driven intelligence platform, to enhance public safety while providing traffic analytics.

This May, B. Riley analyst Zach Cummins lowered the price target on Rekor Systems, Inc. (NASDAQ:REKR) to $7 from $12 but kept a Buy rating on the shares post the Q1 results. The analyst says that although the recurring revenue transition has weighed on near-term revenue and margins, he still anticipates revenue growth will accelerate, with improving margins in the second half of 2022.

On June 21, Rekor Systems, Inc. (NASDAQ:REKR) announced that it has closed its acquisition of Southern Traffic Services. The acquisition is valued at up to $14.5 million, including earnouts, the final amount of which will be based on the achievement of certain performance metrics. Southern Traffic Services will operate as a business unit within Rekor Systems, Inc. (NASDAQ:REKR) and is expected to generate $15 million of revenue for the fiscal year 2022.

As of the end of the first quarter, 5 hedge funds in Insider Monkey’s database held stakes in Rekor Systems, Inc. (NASDAQ:REKR), the same as the preceding quarter. The total value of the stakes held for the quarter amounted to over $22.57 million.