Pony AI (NASDAQ:PONY) Sets New 52-Week High – Should You Buy?

Pony AI Inc. (NASDAQ:PONY)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $18.49 and last traded at $18.31, with a volume of 3040961 shares changing hands. The stock had previously closed at $16.54.

Wall Street Analysts Forecast Growth

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

Pony AI Stock Down 3.0 %

The stock has a 50-day simple moving average of $14.18.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Woodline Partners LP bought a new stake in shares of Pony AI in the 4th quarter valued at approximately $2,206,000. Squarepoint Ops LLC acquired a new stake in Pony AI in the 4th quarter valued at $691,000. Toyota Motor Corp bought a new stake in Pony AI in the fourth quarter valued at $647,421,000. Millennium Management LLC acquired a new position in Pony AI during the fourth quarter worth $596,000. Finally, LMR Partners LLP acquired a new position in Pony AI during the fourth quarter worth $1,435,000.

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.