Pony AI (NASDAQ:PONY) Shares Gap Down – Should You Sell?

Pony AI Inc. (NASDAQ:PONY) shares gapped down before the market opened on Monday . The stock had previously closed at $23.61, but opened at $21.67. Pony AI shares last traded at $19.67, with a volume of 1,588,006 shares traded.

Analyst Upgrades and Downgrades

PONY has been the topic of several research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Pony AI in a research note on Tuesday, January 14th. They set a “buy” rating and a $20.00 target price on the stock. Bank of America initiated 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 for the company. Finally, The Goldman Sachs Group assumed coverage on shares of Pony AI in a report on Monday, December 23rd. They set a “buy” rating and a $19.60 target price on the stock.

Pony AI Stock Performance

The business has a fifty day moving average of $14.39.

Institutional Trading of Pony AI

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