Pony AI (NASDAQ:PONY) Shares Up 6.3% – Time to Buy?

Pony AI Inc. (NASDAQ:PONY)’s stock price was up 6.3% during mid-day trading on Friday . The company traded as high as $14.06 and last traded at $14.02. Approximately 699,823 shares traded hands during trading, a decline of 9% from the average daily volume of 771,646 shares. The stock had previously closed at $13.19.

Wall Street Analyst Weigh In

PONY has been the topic of several research reports. Deutsche Bank Aktiengesellschaft began coverage on Pony AI in a report on Tuesday, January 14th. They issued a “buy” rating and a $20.00 target price on the stock. The Goldman Sachs Group started coverage on shares of Pony AI in a report on Monday, December 23rd. They issued a “buy” rating and a $19.60 price objective on the stock. Finally, Bank of America initiated coverage on shares of Pony AI in a research report on Monday, December 23rd. They set a “buy” rating and a $18.00 price target for the company.

Pony AI Stock Up 6.1 %

The company has a fifty day moving average price of $13.58.

Institutional Investors Weigh In On Pony AI

Hedge funds and other institutional investors have recently modified their holdings of the stock. IDG China Venture Capital Fund IV Associates L.P. acquired a new stake in Pony AI in the 4th quarter worth about $144,973,000. IDG China Capital Fund III Associates L.P. purchased a new stake in Pony AI during the 4th quarter worth $93,700,000. Lingotto Investment Management LLP purchased a new stake in Pony AI during the 4th quarter worth approximately $17,220,000. Neumann Advisory Hong Kong Ltd bought a new position in Pony AI during the 4th quarter valued at $14,808,000. Finally, Robeco Schweiz AG acquired a new position in shares of Pony AI in the 4th quarter worth approximately $8,811,000.

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.