Pony AI (NASDAQ:PONY) Shares Gap Down – What’s Next?

Pony AI Inc. (NASDAQ:PONY) shares gapped down before the market opened on Monday . The stock had previously closed at $23.61, but opened at $21.67. Pony AI shares last traded at $19.67, with a volume of 1,588,006 shares traded.

Wall Street Analyst Weigh In

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

Pony AI Price Performance

The company’s fifty day moving average is $14.39.

Hedge Funds Weigh In On Pony AI

Institutional investors have recently added to or reduced their stakes in the stock. Pinpoint Asset Management Ltd acquired a new stake in Pony AI during the fourth quarter worth about $108,000. Barclays PLC acquired a new stake in shares of Pony AI during the 4th quarter worth approximately $212,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Pony AI during the 4th quarter valued at approximately $281,000. Walleye Capital LLC acquired a new position in Pony AI in the fourth quarter valued at approximately $402,000. Finally, Ovata Capital Management Ltd purchased a new position in Pony AI in 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.