Pony AI (NASDAQ:PONY) Shares Down 5.3% – Time to Sell?

Shares of Pony AI Inc. (NASDAQ:PONY) were down 5.3% during mid-day trading on Thursday . The company traded as low as $10.37 and last traded at $10.44. 486,111 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 1,478,209 shares. The stock had previously closed at $11.03.

Analysts Set New Price Targets

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

Pony AI Price Performance

The business’s 50 day simple moving average is $14.39.

Hedge Funds Weigh In On Pony AI

Several institutional investors have recently modified their holdings of the company. Neumann Advisory Hong Kong Ltd purchased a new stake in Pony AI in the fourth quarter worth approximately $14,808,000. Matthews International Capital Management LLC bought a new stake in shares of Pony AI in the 4th quarter worth approximately $1,654,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Pony AI in the 4th quarter valued at $281,000. Lingotto Investment Management LLP bought a new position in shares of Pony AI during the 4th quarter valued at $17,220,000. Finally, Robeco Schweiz AG purchased a new position in Pony AI in the 4th quarter worth $8,811,000.

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.