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

Pony AI Inc. (NASDAQ:PONY)’s share 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 equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Pony AI in a research report on Tuesday, January 14th. They set a “buy” rating and a $20.00 target price on the stock. Bank of America began coverage on Pony AI in a research note on Monday, December 23rd. They issued a “buy” rating and a $18.00 price target on the stock. Finally, The Goldman Sachs Group started coverage on Pony AI in a research note on Monday, December 23rd. They issued a “buy” rating and a $19.60 target price for the company.

Pony AI Trading Down 8.5 %

The business’s fifty day simple moving average is $13.94.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP purchased a new stake in Pony AI in the 4th quarter worth approximately $19,334,000. Woodline Partners LP bought a new stake in Pony AI in the fourth quarter worth $2,206,000. Squarepoint Ops LLC bought a new position in shares of Pony AI in the 4th quarter valued at about $691,000. Toyota Motor Corp purchased a new position in shares of Pony AI in the 4th quarter worth approximately $647,421,000. Finally, Millennium Management LLC bought a new stake in shares of Pony AI in the 4th quarter worth about $596,000.

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.