Pony AI (NASDAQ:PONY) Shares Gap Up – What’s Next?

Pony AI Inc. (NASDAQ:PONY)’s share price gapped up before the market opened on Friday . The stock had previously closed at $14.86, but opened at $17.80. Pony AI shares last traded at $17.33, with a volume of 1,966,832 shares changing hands.

Wall Street Analyst Weigh In

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

Pony AI Trading Up 11.3 %

The firm has a fifty day simple moving average of $13.88.

Institutional Investors Weigh In On Pony AI

Hedge funds have recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new position in shares of Pony AI during the 4th quarter worth about $1,525,000. Soros Fund Management LLC acquired a new position in shares of Pony AI during the fourth quarter worth approximately $12,718,000. Ghisallo Capital Management LLC bought a new stake in shares of Pony AI in the fourth quarter valued at approximately $2,655,000. Stifel Financial Corp acquired a new stake in shares of Pony AI in the fourth quarter worth $1,237,000. Finally, MYDA Advisors LLC bought a new position in Pony AI during the fourth quarter worth $718,000.

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.