In this article, we discuss the 5 best artificial intelligence (AI) penny stocks under $1. If you want to read about some more artificial intelligence stocks, go directly to 10 Best AI Penny Stocks Under $1.
5. Aurora Mobile Limited (NASDAQ:JG)
Number of Hedge Fund Holders: 3
Share Price as of December 3: $0.89
Aurora Mobile Limited (NASDAQ:JG) operates as a mobile app development service provider in China. The firm is utilizing artificial intelligence and machine learning for data coverage and analytics. On November 17, Aurora Mobile Limited announced that it has become one of the first data providers of the Shenzhen Data Exchange.
At the end of the third quarter of 2022, 3 hedge funds in the database of Insider Monkey held stakes worth $149,000 in Aurora Mobile Limited (NASDAQ:JG), compared to 3 in the preceding quarter worth $204,000.
4. Amesite Inc. (NASDAQ:AMST)
Number of Hedge Fund Holders: 3
Share Price as of December 3: $0.31
Amesite Inc. (NASDAQ:AMST) is an artificial intelligence-driven platform and course designer that provides online products in the United States. On August 30, Amesite noted that it has entered into securities purchase agreements with institutional investors for the purchase and sale of 4,181,821 shares of common stock and warrants to purchase 4,181,821 shares of common stock at a combined purchase price of $0.55. The gross proceeds to Amesite from this offering are expected to be approximately $2.3 million.
At the end of the third quarter of 2022, 3 hedge funds in the database of Insider Monkey held stakes worth $47,000 in Amesite Inc. (NASDAQ:AMST), compared to 1 in the previous quarter worth $27,000.
3. Ideanomics, Inc. (NASDAQ:IDEX)
Number of Hedge Fund Holders: 6
Share Price as of December 3: $0.23
Ideanomics, Inc. (NASDAQ:IDEX) develops zero-emission mobility solutions for the off-highway and on-highway commercial vehicle markets in Asia and the United States. The firm is working on several artificial intelligence products, including digital asset enablement with AI and blockchain. On November 14, Ideanomics announced that it has secured strategic financing from DLL, a global financial solution provider, to drive the growth of its subsidiary Solectrac. Solectrac is available at 57 locations across the US and recently added seven more certified dealers to its dealer network.
At the end of the third quarter of 2022, 6 hedge funds in the database of Insider Monkey held stakes worth $11.2 million in Ideanomics, Inc. (NASDAQ:IDEX), compared to 4 in the preceding quarter worth $11 million.
2. Qudian Inc. (NYSE:QD)
Number of Hedge Fund Holders: 7
Share Price as of December 3: $0.90
Qudian Inc. (NYSE:QD) operates as a consumer-oriented technology company in the People’s Republic of China. It uses artificial intelligence and machine learning to provide credit products and data-driven solutions to finance institutions.
Among the hedge funds being tracked by Insider Monkey, New York-based investment firm QVT Financial is a leading shareholder in Qudian Inc. (NYSE:QD) with 11.7 million shares worth more than $11.6 million.
1. OneConnect Financial Technology Co., Ltd. (NYSE:OCFT)
Number of Hedge Fund Holders: 8
Share Price as of December 3: $0.73
OneConnect Financial Technology Co., Ltd. (NYSE:OCFT) provides cloud-platform-based Fintech solutions and online information and operating support services for financial institutions in the People’s Republic of China. The firm uses AI software to automate the lending business.
On August 18, investment advisory Citi maintained a Buy rating on OneConnect Financial Technology Co., Ltd. (NYSE:OCFT) stock and lowered the price target to $1.59 from $1.85. Analyst Judy Zhang issued the ratings update.
At the end of the third quarter of 2022, 8 hedge funds in the database of Insider Monkey held stakes worth $5.7 million in OneConnect Financial Technology Co., Ltd. (NYSE:OCFT), compared to 8 in the preceding quarter worth $9.7 million.
You can also take a peek at 11 Best Micro-cap Dividend Stocks To Buy and 15 Best E-Commerce Stocks To Buy.
