Pony AI (NASDAQ:PONY) Stock Price Up 6.7% – What’s Next?

Shares of Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) were up 6.7% on Tuesday . The company traded as high as $14.74 and last traded at $14.51. Approximately 2,355,881 shares changed hands during trading, a decline of 68% from the average daily volume of 7,409,992 shares. The stock had previously closed at $13.60.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PONY shares. Macquarie began coverage on Pony AI in a research note on Monday. They issued an “outperform” rating and a $29.00 price target on the stock. Jefferies Financial Group started coverage on shares of Pony AI in a research report on Friday, October 10th. They issued a “buy” rating on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Pony AI in a report on Wednesday, October 8th. Finally, Citigroup decreased their price target on shares of Pony AI from $29.00 to $24.50 and set a “buy” rating on the stock in a research note on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $21.85.

Pony AI Stock Up 5.6%

The company’s 50 day moving average is $16.35 and its 200 day moving average is $15.55. The firm has a market capitalization of $5.53 billion and a price-to-earnings ratio of -10.18.

Hedge Funds Weigh In On Pony AI

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its holdings in shares of Pony AI by 103.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,110 shares of the company’s stock worth $47,000 after purchasing an additional 62,748 shares in the last quarter. CWM LLC bought a new stake in Pony AI during the second quarter worth $28,000. Jones Financial Companies Lllp increased its stake in shares of Pony AI by 704.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,197 shares of the company’s stock valued at $47,000 after purchasing an additional 1,924 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Pony AI during the 3rd quarter worth $50,000. Finally, Banque Cantonale Vaudoise grew its position in Pony AI by 71.2% in the third quarter. Banque Cantonale Vaudoise now owns 3,662 shares of the company’s stock valued at $82,000 after acquiring an additional 1,523 shares during the last quarter.

Pony AI Company Profile

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.