Pony AI Inc.’s Quiet Period Will Expire on January 6th (NASDAQ:PONY)

Pony AI’s (NASDAQ:PONY) quiet period is set to expire on Monday, January 6th. Pony AI had issued 20,000,000 shares in its initial public offering on November 27th. The total size of the offering was $260,000,000 based on an initial share price of $13.00. During the company’s quiet period, underwriters and any insiders involved in the IPO are prevented from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PONY. Bank of America assumed coverage on shares of Pony AI in a research note on Monday, December 23rd. They set a “buy” rating and a $18.00 price objective for the company. The Goldman Sachs Group started coverage on shares of Pony AI in a report on Monday, December 23rd. They issued a “buy” rating and a $19.60 price target on the stock.

Pony AI Price Performance

Shares of Pony AI stock opened at $14.35 on Wednesday. Pony AI has a twelve month low of $11.90 and a twelve month high of $16.32.

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.