Pony AI (NASDAQ:PONY) Stock Price Down 12.4% – What’s Next?

Pony AI Inc. (NASDAQ:PONY) fell 12.4% during mid-day trading on Monday . The company traded as low as $13.27 and last traded at $13.31. 2,494,958 shares traded hands during trading, an increase of 74% from the average session volume of 1,433,024 shares. The stock had previously closed at $15.20.

Analysts Set New Price Targets

PONY has been the topic of a number of recent research reports. The Goldman Sachs Group assumed coverage on shares of Pony AI in a report on Monday, December 23rd. They issued a “buy” rating and a $19.60 price objective on the stock. 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. Finally, Deutsche Bank Aktiengesellschaft started coverage on 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 Stock Up 1.8 %

The firm has a fifty day simple moving average of $14.90.

Institutional Investors Weigh In On Pony AI

Several large investors have recently bought and sold shares of PONY. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Pony AI during the 4th quarter valued at about $281,000. Neumann Advisory Hong Kong Ltd purchased a new stake in Pony AI during the 4th quarter valued at $14,808,000. Matthews International Capital Management LLC bought a new position in shares of Pony AI during the 4th quarter valued at $1,654,000. Robeco Schweiz AG bought a new position in shares of Pony AI during the 4th quarter valued at $8,811,000. Finally, IDG China Capital Fund III Associates L.P. purchased a new position in shares of Pony AI in the 4th quarter worth $93,700,000.

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.