5 Best Technology Penny Stocks to Invest In According to Hedge Funds

3. SmartRent Inc. (NYSE:SMRT)

Number of Hedge Fund Holders: 26

SmartRent Inc. (NYSE:SMRT) is one of the best technology penny stocks to invest in according to hedge funds. On April 27, SmartRent launched a strategic value-added reseller/VAR program to expand its market reach into the small and mid-market multifamily housing segments. SKBM Smart Technology, a long-term installation partner, has been named the program’s first reseller. This initiative is a core component of the company’s “Vision 2028” program and its “March to One Million” IoT-unit goal, aiming to capture a larger share of the 40-million-unit US rental market.

While SmartRent currently maintains a strong presence among top-tier multifamily portfolios (with over 900,000 IoT units already deployed), the company identifies the broader mid-market as a substantial growth vector. By partnering with resellers like SKBM, SmartRent can provide more localized, high-touch engagement to smaller operators. The CEO noted that this expansion of the go-to-market team will complement the company’s dedicated in-house sales force to drive durable revenue growth.

SKBM Smart Technology will use its established sales teams and industry relationships to deliver SmartRent Inc.’s (NYSE:SMRT) smart community and operations solutions to these new segments. Bill Myers, Co-Founder and COO of SKBM, expressed that his team is uniquely positioned to meet the specific needs of property owners in this expansive sector.

SmartRent Inc. (NYSE:SMRT) offers AI-enabled smart building solutions and management software, with its integrated hardware and cloud-based platforms. It is included in our list of the best AI stocks.