Pony AI (NASDAQ:PONY) Trading Up 10.2% – Here’s What Happened

Pony AI Inc. (NASDAQ:PONY) shares shot up 10.2% during mid-day trading on Friday . The company traded as high as $20.20 and last traded at $19.70. 1,149,593 shares changed hands during trading, an increase of 3% from the average session volume of 1,116,686 shares. The stock had previously closed at $17.88.

Analyst Ratings Changes

A number of analysts recently weighed in on PONY shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Pony AI in a research report 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 report on Monday, December 23rd. They issued a “buy” rating and a $19.60 target price on the stock. Finally, Bank of America assumed coverage on Pony AI in a report on Monday, December 23rd. They set a “buy” rating and a $18.00 target price on the stock.

Pony AI Trading Up 27.1 %

The company’s fifty day moving average is $14.18.

Hedge Funds Weigh In On Pony AI

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