Pony AI Inc. (NASDAQ:PONY - Get Free Report)'s stock price reached a new 52-week low on Wednesday . The company traded as low as $11.75 and last traded at $12.14, with a volume of 3458048 shares. The stock had previously closed at $13.21.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on PONY shares. The Goldman Sachs Group began coverage on shares of Pony AI in a report on Monday, December 23rd. They issued a "buy" rating and a $19.60 price objective on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Pony AI in a research note on Tuesday, January 14th. They issued a "buy" rating and a $20.00 price target on the stock. Finally, Bank of America initiated coverage on shares of Pony AI in a research note on Monday, December 23rd. They set a "buy" rating and a $18.00 price objective for the company.
Get Our Latest Stock Report on PONY
Pony AI Stock Down 11.7 %
The company has a 50-day moving average of $14.39.
Hedge Funds Weigh In On Pony AI
Hedge funds and other institutional investors have recently made changes to their positions in the company. Pinpoint Asset Management Ltd acquired a new stake in Pony AI in the fourth quarter valued at $108,000. Barclays PLC bought a new stake in shares of Pony AI in the 4th quarter valued at about $212,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Pony AI in the 4th quarter valued at about $281,000. Walleye Capital LLC bought a new position in Pony AI during the fourth quarter worth about $402,000. Finally, Ovata Capital Management Ltd acquired a new position in Pony AI during the fourth quarter worth approximately $538,000.
About Pony AI
(
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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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