Pony AI Inc. (NASDAQ:PONY – Get Free Report)’s stock price 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.
Analyst Upgrades and Downgrades
A number of analysts recently commented on PONY shares. 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 target for the company. The Goldman Sachs Group initiated coverage on shares of Pony AI in a report on Monday, December 23rd. They set a “buy” rating and a $19.60 price target on the stock. Finally, Bank of America started coverage on Pony AI in a research report on Monday, December 23rd. They issued a “buy” rating and a $18.00 target price for the company.
Check Out Our Latest Stock Report on Pony AI
Pony AI Stock Up 12.8 %
Hedge Funds Weigh In On Pony AI
Large investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Pony AI during the fourth quarter valued at about $281,000. Matthews International Capital Management LLC purchased a new stake in shares of Pony AI in the fourth quarter worth about $1,654,000. Alliancebernstein L.P. bought a new position in Pony AI during the fourth quarter valued at approximately $3,354,000. Robeco Schweiz AG bought a new stake in Pony AI in the 4th quarter worth approximately $8,811,000. Finally, Neumann Advisory Hong Kong Ltd bought a new stake in Pony AI in the 4th quarter worth approximately $14,808,000.
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.
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