5 Cheap AI Stocks to Buy in 2024

3. AeroVironment, Inc. (NASDAQ:AVAV)

Average Analyst Price Target Upside: 23.60%

Average Analyst Price Target: $152.33

Number of Hedge Fund Holders: 15

AeroVironment, Inc. (NASDAQ:AVAV) is a California-based company that designs unmanned aerial vehicles, and its robotic systems are powered by AI. AeroVironment, Inc. (NASDAQ:AVAV) takes the third spot on our list of cheap AI stocks to buy in 2024.

On February 8, AeroVironment, Inc. (NASDAQ:AVAV) announced that its Tomahawk Robotics secured a contract from the Department of Defense worth $2.67 million. Under the contract, the company would provide delivery of prototype Tomahawk Grip Tab Active controllers and supporting test kits.

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