Pony AI (NASDAQ:PONY) Shares Gap Up – Time to Buy?

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 traded.

Wall Street Analysts Forecast Growth

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

Pony AI Stock Up 10.0 %

The firm’s fifty day simple moving average is $13.80.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Pinpoint Asset Management Ltd acquired a new position in Pony AI in the 4th quarter valued at approximately $108,000. Barclays PLC acquired a new position in Pony AI in the 4th quarter valued at approximately $212,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Pony AI in the 4th quarter valued at approximately $281,000. Walleye Capital LLC acquired a new position in Pony AI in the 4th quarter valued at approximately $402,000. Finally, Ovata Capital Management Ltd acquired a new position in Pony AI in the 4th quarter valued at 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.