Pony AI (NASDAQ:PONY) Hits New 52-Week Low – What’s Next?

Pony AI Inc. (NASDAQ:PONY)’s stock price hit a new 52-week low during trading on Monday . The stock traded as low as $5.82 and last traded at $5.96, with a volume of 276822 shares. The stock had previously closed at $6.41.

Analysts Set New Price Targets

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

Pony AI Stock Performance

The company’s 50 day simple moving average is $13.80.

Institutional Trading of Pony AI

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Pinpoint Asset Management Ltd acquired a new stake in Pony AI during the fourth quarter worth approximately $108,000. Barclays PLC bought a new position in Pony AI during the fourth quarter worth about $212,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Pony AI during the fourth quarter worth about $281,000. Walleye Capital LLC acquired a new stake in Pony AI in the 4th quarter worth about $402,000. Finally, Ovata Capital Management Ltd bought a new stake in Pony AI in the 4th quarter valued at about $538,000.

About Pony AI

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.