37,500 Shares in Pony AI Inc. (NASDAQ:PONY) Bought by Ovata Capital Management Ltd

Ovata Capital Management Ltd bought a new stake in shares of Pony AI Inc. (NASDAQ:PONY) in the 4th quarter, HoldingsChannel reports. The fund bought 37,500 shares of the company’s stock, valued at approximately $538,000. Pony AI accounts for about 0.2% of Ovata Capital Management Ltd’s investment portfolio, making the stock its 27th biggest holding.

A number of other institutional investors and hedge funds also recently modified their holdings of PONY. Pamalican Asset Management Ltd bought a new stake in shares of Pony AI during the 4th quarter valued at about $7,917,000. Pinpoint Asset Management Ltd bought a new position in shares of Pony AI during the fourth quarter valued at approximately $108,000. Alliancebernstein L.P. bought a new position in shares of Pony AI during the fourth quarter valued at approximately $3,354,000. Wellington Management Group LLP acquired a new stake in shares of Pony AI during the 4th quarter worth approximately $19,334,000. Finally, IDG China Venture Capital Fund IV Associates L.P. bought a new stake in shares of Pony AI in the 4th quarter worth approximately $144,973,000.

Pony AI Stock Performance

Shares of Pony AI stock opened at $6.41 on Friday. Pony AI Inc. has a 1-year low of $6.13 and a 1-year high of $23.88. The firm’s fifty day simple moving average is $13.80.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Pony AI in a research note on Tuesday, January 14th. They set a “buy” rating and a $20.00 price objective for the company. 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. Finally, 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 target price for the company.

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.