Pony AI (NASDAQ:PONY) Reaches New 52-Week Low – What’s Next?

Pony AI Inc. (NASDAQ:PONY) shares reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $8.33 and last traded at $8.82, with a volume of 1934564 shares trading hands. The stock had previously closed at $8.97.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PONY shares. 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 on the stock. The Goldman Sachs Group began coverage on Pony AI in a report on Monday, December 23rd. They issued a “buy” rating and a $19.60 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft began 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 for the company.

Pony AI Price Performance

The company has a 50-day moving average price of $14.07.

Institutional Investors Weigh In On Pony AI

A number of large investors have recently added to or reduced their stakes in PONY. Pinpoint Asset Management Ltd acquired a new stake in shares of Pony AI in the fourth quarter worth $108,000. Barclays PLC acquired a new position in Pony AI during the 4th quarter worth $212,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Pony AI during the fourth quarter valued at about $281,000. Walleye Capital LLC bought a new position in shares of Pony AI in the fourth quarter worth about $402,000. Finally, Ovata Capital Management Ltd acquired a new position in shares of Pony AI during the 4th quarter worth about $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.