Pony AI (NASDAQ:PONY) Hits New 12-Month High – Here’s Why

Pony AI Inc. (NASDAQ:PONY)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $18.49 and last traded at $18.31, with a volume of 3040961 shares traded. The stock had previously closed at $16.54.

Wall Street Analysts Forecast Growth

PONY has been the subject of several analyst reports. The Goldman Sachs Group initiated coverage on Pony AI in a research report on Monday, December 23rd. They set a “buy” rating and a $19.60 target price for the company. Bank of America initiated coverage on Pony AI in a research report on Monday, December 23rd. They set a “buy” rating and a $18.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft began coverage on Pony AI in a research report on Tuesday, January 14th. They set a “buy” rating and a $20.00 target price for the company.

Pony AI Price Performance

The stock has a fifty day moving average price of $13.99.

Institutional Trading of Pony AI

A number of large investors have recently bought and sold shares of the business. Pinpoint Asset Management Ltd acquired a new stake in Pony AI during the 4th quarter worth about $108,000. Barclays PLC acquired a new stake in shares of Pony AI in the 4th quarter valued at about $212,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Pony AI in the 4th quarter valued at about $281,000. Walleye Capital LLC acquired a new stake in shares of Pony AI in the 4th quarter valued at about $402,000. Finally, Ovata Capital Management Ltd acquired a new stake in shares of Pony AI in the 4th quarter valued at about $538,000.

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.