Pony AI (NASDAQ:PONY) Sees Large Volume Increase – Here’s Why

Shares of Pony AI Inc. (NASDAQ:PONY) saw an uptick in trading volume on Monday . 743,252 shares were traded during mid-day trading, a decline of 8% from the previous session’s volume of 806,568 shares.The stock last traded at $14.92 and had previously closed at $14.00.

Analyst Ratings Changes

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

Pony AI Stock Down 6.2 %

The business’s fifty day moving average is $13.67.

Institutional Trading of Pony AI

Institutional investors have recently bought and sold shares of the stock. IDG China Venture Capital Fund IV Associates L.P. bought a new position in Pony AI during the 4th quarter valued at about $144,973,000. IDG China Capital Fund III Associates L.P. acquired a new stake in shares of Pony AI during the fourth quarter worth approximately $93,700,000. Robeco Schweiz AG bought a new position in shares of Pony AI in the fourth quarter valued at approximately $8,811,000. Lingotto Investment Management LLP acquired a new position in shares of Pony AI in the 4th quarter worth approximately $17,220,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Pony AI during the 4th quarter worth approximately $281,000.

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.