Shares of Pony AI Inc. (NASDAQ:PONY – Get Free Report) reached a new 52-week low during trading on Tuesday . The stock traded as low as $8.33 and last traded at $8.82, with a volume of 1934564 shares changing hands. The stock had previously closed at $8.97.
Analyst Upgrades and Downgrades
PONY has been the subject of a number of recent research reports. Bank of America began coverage on shares of Pony AI in a research note on Monday, December 23rd. They set a “buy” rating and a $18.00 price objective for the company. The Goldman Sachs Group assumed coverage on Pony AI in a report on Monday, December 23rd. They issued a “buy” rating and a $19.60 price target for the company. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Pony AI in a research note on Tuesday, January 14th. They set a “buy” rating and a $20.00 price objective on the stock.
Check Out Our Latest Report on PONY
Pony AI Trading Down 1.7 %
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. acquired a new position in Pony AI in the fourth quarter valued at $281,000. Neumann Advisory Hong Kong Ltd acquired a new position in shares of Pony AI during the 4th quarter valued at about $14,808,000. Matthews International Capital Management LLC purchased a new position in shares of Pony AI during the 4th quarter worth about $1,654,000. Robeco Schweiz AG acquired a new stake in shares of Pony AI in the fourth quarter worth approximately $8,811,000. Finally, IDG China Capital Fund III Associates L.P. purchased a new stake in Pony AI in the fourth quarter valued at approximately $93,700,000.
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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