Pony AI (NASDAQ:PONY) Trading Down 5.8% – Here’s What Happened

Pony AI Inc. (NASDAQ:PONY)’s stock price was down 5.8% on Tuesday . The stock traded as low as $14.14 and last traded at $14.15. Approximately 143,255 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 859,716 shares. The stock had previously closed at $15.02.

Analysts Set New Price Targets

PONY has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft began coverage on Pony AI in a report on Tuesday, January 14th. They issued a “buy” rating and a $20.00 price target for the company. Bank of America began coverage on Pony AI in a research report on Monday, December 23rd. They issued a “buy” rating and a $18.00 target price on the stock. Finally, The Goldman Sachs Group initiated coverage on Pony AI in a report on Monday, December 23rd. They set a “buy” rating and a $19.60 price target on the stock.

Pony AI Stock Down 6.3 %

The stock has a fifty day simple moving average of $13.63.

Institutional Trading of Pony AI

Several institutional investors and hedge funds have recently modified their holdings of PONY. Neumann Advisory Hong Kong Ltd bought a new position in Pony AI during the 4th quarter worth approximately $14,808,000. Matthews International Capital Management LLC purchased a new position in Pony AI during the fourth quarter valued at $1,654,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Pony AI in the 4th quarter worth $281,000. Lingotto Investment Management LLP bought a new stake in shares of Pony AI in the 4th quarter worth $17,220,000. Finally, Robeco Schweiz AG bought a new stake in shares of Pony AI in the fourth quarter worth $8,811,000.

Pony AI Company Profile

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.