Pony AI (NASDAQ:PONY) Shares Gap Up – Still a Buy?

Pony AI Inc. (NASDAQ:PONY) gapped up before the market opened on Wednesday . The stock had previously closed at $7.89, but opened at $8.08. Pony AI shares last traded at $7.87, with a volume of 267,465 shares changing hands.

Wall Street Analyst Weigh In

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

Pony AI Trading Down 1.8 %

The business has a fifty day simple moving average of $14.18.

Hedge Funds Weigh In On Pony AI

Several institutional investors and hedge funds have recently modified their holdings of PONY. Pinpoint Asset Management Ltd acquired a new stake in shares of Pony AI in the fourth quarter valued at about $108,000. Barclays PLC purchased a new stake in Pony AI during 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 purchased a new position in Pony AI in the 4th quarter worth approximately $402,000. Finally, Ovata Capital Management Ltd acquired a new position in shares of Pony AI during the 4th quarter worth approximately $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.