Pony AI Inc. (NASDAQ:PONY – Get Free Report)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $7.89, but opened at $8.08. Pony AI shares last traded at $7.87, with a volume of 267,465 shares trading hands.
Wall Street Analyst Weigh In
Several research firms recently issued reports on PONY. The Goldman Sachs Group assumed coverage on shares of Pony AI in a research report on Monday, December 23rd. They set a “buy” rating and a $19.60 price objective for the company. Bank of America initiated coverage on shares of Pony AI in a research note on Monday, December 23rd. They set a “buy” rating and a $18.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Pony AI in a research note on Tuesday, January 14th. They set a “buy” rating and a $20.00 target price on the stock.
View Our Latest Analysis on Pony AI
Pony AI Stock Down 1.8 %
Institutional Trading of Pony AI
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PONY. Pinpoint Asset Management Ltd purchased a new position in shares of Pony AI in the 4th quarter valued at $108,000. Barclays PLC acquired a new position in Pony AI in the 4th quarter valued at about $212,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Pony AI in the 4th quarter valued at approximately $281,000. Walleye Capital LLC acquired a new position in shares of Pony AI in the fourth quarter valued at approximately $402,000. Finally, Ovata Capital Management Ltd purchased a new stake in shares of Pony AI during the fourth quarter worth approximately $538,000.
About Pony AI
Pony AI Inc, through its subsidiaries, engages in the autonomous mobility principally in the People’s Republic of China and the United States. The company provides robotruck services, such as transportation services to the logistics platforms. Pony AI Inc is based in Guangzhou, the People’s Republic of China.
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