Ovata Capital Management Ltd Purchases New Position in Pony AI Inc. (NASDAQ:PONY)

Ovata Capital Management Ltd acquired a new position in shares of Pony AI Inc. (NASDAQ:PONY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 37,500 shares of the company’s stock, valued at approximately $538,000. Pony AI makes up about 0.2% of Ovata Capital Management Ltd’s investment portfolio, making the stock its 27th biggest position.

A number of other large investors have also modified their holdings of the stock. IDG China Venture Capital Fund IV Associates L.P. acquired a new position in Pony AI during the 4th quarter worth approximately $144,973,000. IDG China Capital Fund III Associates L.P. purchased a new stake in shares of Pony AI during the fourth quarter valued at approximately $93,700,000. Wellington Management Group LLP acquired a new position in shares of Pony AI during the fourth quarter worth $19,334,000. Lingotto Investment Management LLP purchased a new position in shares of Pony AI in the fourth quarter valued at $17,220,000. Finally, Neumann Advisory Hong Kong Ltd acquired a new stake in Pony AI during the 4th quarter valued at $14,808,000.

Pony AI Stock Down 7.4 %

PONY opened at $6.41 on Friday. The business has a 50-day moving average of $13.80. Pony AI Inc. has a 1-year low of $6.13 and a 1-year high of $23.88.

Analysts Set New Price Targets

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

Pony AI 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.