Pony AI (NASDAQ:PONY) Shares Gap Up – Time to Buy?

Pony AI Inc. (NASDAQ:PONY)’s share price gapped up prior to trading on Friday . The stock had previously closed at $14.86, but opened at $17.80. Pony AI shares last traded at $17.33, with a volume of 1,966,832 shares changing hands.

Analyst Upgrades and Downgrades

PONY has been the topic of several research reports. The Goldman Sachs Group initiated coverage on Pony AI in a report on Monday, December 23rd. They issued a “buy” rating and a $19.60 target price on the stock. Bank of America initiated coverage on Pony AI in a report on Monday, December 23rd. They issued a “buy” rating and a $18.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Pony AI in a report on Tuesday, January 14th. They issued a “buy” rating and a $20.00 target price on the stock.

Pony AI Stock Up 10.0 %

The stock has a fifty day moving average of $13.80.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Stifel Financial Corp acquired a new position in shares of Pony AI in the 4th quarter worth approximately $1,237,000. MYDA Advisors LLC acquired a new position in Pony AI during the 4th quarter valued at approximately $718,000. HITE Hedge Asset Management LLC bought a new stake in Pony AI during the 4th quarter valued at $975,000. Ontario Teachers Pension Plan Board bought a new stake in Pony AI during the 4th quarter valued at $310,559,000. Finally, Carlyle Group Inc. bought a new stake in Pony AI during the 4th quarter valued at $33,901,000.

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.