Alliancebernstein L.P. Buys New Holdings in Pony AI Inc. (NASDAQ:PONY)

Alliancebernstein L.P. purchased a new position in Pony AI Inc. (NASDAQ:PONY) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 233,707 shares of the company’s stock, valued at approximately $3,354,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PONY. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Pony AI in the 4th quarter worth about $281,000. Neumann Advisory Hong Kong Ltd bought a new position in Pony AI during the 4th quarter valued at approximately $14,808,000. Matthews International Capital Management LLC bought a new position in shares of Pony AI during the fourth quarter valued at $1,654,000. Robeco Schweiz AG purchased a new position in Pony AI in the fourth quarter worth about $8,811,000. Finally, IDG China Capital Fund III Associates L.P. purchased a new position in Pony AI in the 4th quarter worth approximately $93,700,000.

Pony AI Stock Performance

Shares of NASDAQ PONY opened at $5.38 on Tuesday. Pony AI Inc. has a 52-week low of $5.22 and a 52-week high of $23.88. The company has a fifty day moving average of $12.64.

Analyst Upgrades and Downgrades

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

Pony AI 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.