Pony AI (NASDAQ:PONY) Trading Up 10.2% – Should You Buy?

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on PONY. Deutsche Bank Aktiengesellschaft began coverage on Pony AI in a research note on Tuesday, January 14th. They set a “buy” rating and a $20.00 price target on the stock. The Goldman Sachs Group began coverage on Pony AI in a research note on Monday, December 23rd. They set a “buy” rating and a $19.60 price target on the stock. Finally, Bank of America began coverage on Pony AI in a research note on Monday, December 23rd. They set a “buy” rating and a $18.00 price target on the stock.

Pony AI Stock Up 32.0 %

The firm has a 50 day moving average price of $14.39.

Institutional Investors Weigh In On Pony AI

A number of large investors have recently bought and sold shares of PONY. Toyota Motor Corp purchased a new stake in Pony AI in the fourth quarter valued at approximately $647,421,000. Ontario Teachers Pension Plan Board purchased a new stake in Pony AI in the fourth quarter valued at approximately $310,559,000. IDG China Venture Capital Fund IV Associates L.P. purchased a new stake in Pony AI in the fourth quarter valued at approximately $144,973,000. IDG China Capital Fund III Associates L.P. purchased a new stake in Pony AI in the fourth quarter valued at approximately $93,700,000. Finally, Aspex Management HK Ltd purchased a new stake in Pony AI in the fourth quarter valued at approximately $34,091,000.

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.