Shares of Pony AI Inc. (NASDAQ:PONY – Get Free Report) hit a new 52-week low during mid-day trading 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.
Wall Street Analyst Weigh In
PONY has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft started coverage on Pony AI in a report on Tuesday, January 14th. They issued a “buy” rating and a $20.00 price objective for the company. The Goldman Sachs Group assumed coverage on shares of Pony AI in a report on Monday, December 23rd. They issued a “buy” rating and a $19.60 price target for the company. Finally, Bank of America initiated coverage on shares of Pony AI in a research note on Monday, December 23rd. They issued a “buy” rating and a $18.00 price objective on the stock.
Check Out Our Latest Stock Analysis on PONY
Pony AI Stock Down 8.1 %
Hedge Funds Weigh In On Pony AI
Institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Pony AI in the fourth quarter worth about $281,000. Neumann Advisory Hong Kong Ltd purchased a new stake in shares of Pony AI in the 4th quarter valued at approximately $14,808,000. Matthews International Capital Management LLC acquired a new position in Pony AI in the 4th quarter worth approximately $1,654,000. Robeco Schweiz AG purchased a new position in Pony AI during the 4th quarter worth approximately $8,811,000. Finally, IDG China Capital Fund III Associates L.P. acquired a new stake in Pony AI during the 4th quarter valued at $93,700,000.
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.
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