Pony AI (NASDAQ:PONY) Shares Up 6.7% – Still a Buy?

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY)’s share price was up 6.7% during mid-day trading on Tuesday . The stock traded as high as $14.74 and last traded at $14.51. Approximately 2,355,881 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 7,409,992 shares. The stock had previously closed at $13.60.

Wall Street Analyst Weigh In

PONY has been the topic of several recent analyst reports. Citigroup cut their price objective on Pony AI from $29.00 to $24.50 and set a “buy” rating on the stock in a report on Friday, November 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Pony AI in a research note on Wednesday, October 8th. Macquarie assumed coverage on shares of Pony AI in a report on Monday. They issued an “outperform” rating and a $29.00 price target for the company. Finally, Jefferies Financial Group began coverage on shares of Pony AI in a report on Friday, October 10th. They set a “buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.85.

Pony AI Stock Up 5.6%

The company’s fifty day moving average is $16.35 and its 200 day moving average is $15.55. The firm has a market cap of $5.53 billion and a price-to-earnings ratio of -10.18.

Institutional Trading of Pony AI

Several institutional investors and hedge funds have recently bought and sold shares of PONY. Cresset Asset Management LLC acquired a new position in shares of Pony AI during the 1st quarter worth approximately $441,000. Wellington Management Group LLP increased its holdings in Pony AI by 47.8% during the first quarter. Wellington Management Group LLP now owns 1,991,811 shares of the company’s stock worth $17,568,000 after buying an additional 644,518 shares during the last quarter. HITE Hedge Asset Management LLC raised its position in Pony AI by 45.1% during the first quarter. HITE Hedge Asset Management LLC now owns 98,588 shares of the company’s stock worth $870,000 after acquiring an additional 30,654 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new stake in Pony AI in the first quarter valued at $345,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of Pony AI in the 1st quarter valued at about $139,000.

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.