Pony AI (NASDAQ:PONY) Sets New 12-Month Low – Time to Sell?

Pony AI Inc. (NASDAQ:PONY) shares hit a new 52-week low on Wednesday . The stock traded as low as $11.75 and last traded at $12.14, with a volume of 3458048 shares changing hands. The stock had previously closed at $13.21.

Analysts Set New Price Targets

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

Pony AI Stock Performance

The business has a 50-day moving average of $14.48.

Institutional Trading of Pony AI

Hedge funds have recently bought and sold shares of the stock. Pinpoint Asset Management Ltd bought a new stake in Pony AI during the fourth quarter valued at about $108,000. Barclays PLC bought a new position in Pony AI in the 4th quarter worth approximately $212,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Pony AI during the fourth quarter valued at approximately $281,000. Walleye Capital LLC bought a new stake in shares of Pony AI during the fourth quarter valued at approximately $402,000. Finally, Ovata Capital Management Ltd purchased a new position in shares of Pony AI in the fourth quarter worth $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.