Pony AI (NASDAQ:PONY) Sees Large Volume Increase – Should You Buy?

Shares of Pony AI Inc. (NASDAQ:PONY) saw unusually-high trading volume on Tuesday . Approximately 1,028,088 shares traded hands during trading, an increase of 2% from the previous session’s volume of 1,007,826 shares.The stock last traded at $17.72 and had previously closed at $16.54.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PONY shares. Deutsche Bank Aktiengesellschaft began coverage on shares of Pony AI in a research note on Tuesday, January 14th. They issued a “buy” rating and a $20.00 price target on the stock. The Goldman Sachs Group started coverage on shares of Pony AI in a research note on Monday, December 23rd. They set a “buy” rating and a $19.60 price target for the company. Finally, Bank of America assumed coverage on shares of Pony AI in a research note on Monday, December 23rd. They issued a “buy” rating and a $18.00 price objective on the stock.

Pony AI Trading Down 3.0 %

The business’s 50-day moving average is $14.08.

Hedge Funds Weigh In On Pony AI

Several hedge funds and other institutional investors have recently bought and sold shares of PONY. Mirae Asset Global Investments Co. Ltd. acquired a new position in Pony AI in the fourth quarter valued at approximately $281,000. Neumann Advisory Hong Kong Ltd bought a new position in Pony AI in the 4th quarter valued at about $14,808,000. Matthews International Capital Management LLC purchased a new stake in shares of Pony AI in the fourth quarter worth approximately $1,654,000. Carlyle Group Inc. purchased a new position in Pony AI during the 4th quarter worth $33,901,000. Finally, Wellington Management Group LLP purchased a new position in Pony AI during the fourth quarter worth about $19,334,000.

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.