Pony AI (NASDAQ:PONY) Shares Gap Down – Here’s Why

Pony AI Inc. (NASDAQ:PONY) gapped down prior to trading on Tuesday . The stock had previously closed at $13.21, but opened at $12.81. Pony AI shares last traded at $12.68, with a volume of 552,454 shares changing hands.

Analyst Ratings Changes

A number of research firms have recently weighed in on PONY. The Goldman Sachs Group began coverage on Pony AI in a research report on Monday, December 23rd. They set a “buy” rating and a $19.60 price objective on the stock. Bank of America began coverage on shares of Pony AI in a report on Monday, December 23rd. They issued a “buy” rating and a $18.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Pony AI in a research report on Tuesday, January 14th. They issued a “buy” rating and a $20.00 price target for the company.

Pony AI Price Performance

The firm’s 50 day moving average is $14.63.

Pony AI (NASDAQ:PONY) last announced its quarterly earnings data on Tuesday, March 25th. The company reported ($0.99) earnings per share for the quarter. On average, analysts expect that Pony AI Inc. will post -0.38 EPS for the current year.

Institutional Investors Weigh In On Pony AI

Several institutional investors have recently made changes to their positions in the stock. Pinpoint Asset Management Ltd purchased a new stake in Pony AI during the fourth quarter worth about $108,000. Barclays PLC purchased a new stake in shares of Pony AI during the 4th quarter worth approximately $212,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Pony AI in the 4th quarter worth approximately $281,000. Walleye Capital LLC purchased a new position in Pony AI in the 4th quarter valued at approximately $402,000. Finally, Ovata Capital Management Ltd acquired a new position in Pony AI during the fourth quarter worth $538,000.

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.