1. Aeye Inc (NASDAQ:LIDR)
Stock Upside Potential: 116.05%
Number of Hedge Fund Holders: 3
Aeye Inc (NASDAQ:LIDR) is among the best lidar stocks to buy according to analysts. The lidar stock has risen more than 20% in the past month and surged more than 180% over the past 12 months.
On April 23, Aeye Inc (NASDAQ:LIDR) announced the hiring of Paul Berton as its vice president of operations and quality. Paul Berton previously worked for electric vehicle maker Lucid Motors, iPhone maker Apple, and chip giant Intel. At Lucid Motors, Berton led engineering and manufacturing in an engine computer unit.
At Aeye, Berton will be responsible for scaling of global manufacturing, strengthening of the supply chain, and bolstering quality systems. Aeye said in a statement that Berton brings extensive experience in scaling complex programs and working with global contract manufacturers. Aeye offered Berton some 125,000 restricted stock units as an inducement to accept the job.
Notably, this hire comes as Aeye seeks to expand its lidar technology to multiple markets. On January 14, Aeye announced that it was partnering with Vueron to enhance its lidar’s perception capabilities. Aeye explained that this arrangement involved combining its Apollo lidar technology with Vueron’s real-time 3D perception software.
With this collaboration, Aeye expects an expanded market opportunity for its lidar solutions. The company cited applications in areas like autonomous driving, intelligent transportation systems, rail safety, and perimeter security.
Aeye Inc (NASDAQ:LIDR) provides software-defined lidar solutions used in autonomous driving, smart infrastructure, security, and logistics applications. Its lidar sensing platform enables long-range and real-time detection of objects up to 1.5 kilometers. Based in California, Aeye was founded by aerospace veterans in 2013.
While we acknowledge the potential of LIDR to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than LIDR and that has 100x upside potential, check out our report about the cheapest AI stock.
READ NEXT: 10 Best Cryptocurrency Stocks to Buy Right Now and Goldman Sachs Bank Stocks: Top 10 Stocks to Buy.
Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email below.
