Pony AI Inc. (NASDAQ:PONY - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $16.68 and last traded at $16.56, with a volume of 1249975 shares changing hands. The stock had previously closed at $14.09.
Wall Street Analyst Weigh In
PONY has been the subject of several analyst reports. Bank of America started coverage on shares of Pony AI in a research note on Monday, December 23rd. They issued a "buy" rating and a $18.00 price target for the company. The Goldman Sachs Group began coverage on Pony AI in a research report on Monday, December 23rd. They issued a "buy" rating and a $19.60 target price for the company. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Pony AI in a research note on Tuesday, January 14th. They issued a "buy" rating and a $20.00 price objective on the stock.
Read Our Latest Research Report on Pony AI
Pony AI Stock Up 10.7 %
The stock's 50 day simple moving average is $13.99.
Institutional Trading of Pony AI
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Toyota Motor Corp acquired a new stake in shares of Pony AI in the fourth quarter valued at approximately $647,421,000. Ontario Teachers Pension Plan Board acquired a new position in Pony AI during the fourth quarter worth $310,559,000. IDG China Venture Capital Fund IV Associates L.P. purchased a new position in shares of Pony AI in the 4th quarter valued at about $144,973,000. IDG China Capital Fund III Associates L.P. purchased a new position in Pony AI in the fourth quarter valued at about $93,700,000. Finally, Aspex Management HK Ltd purchased a new position in Pony AI in the 4th quarter valued at approximately $34,091,000.
About Pony AI
(
Get Free Report)
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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