Pony AI (NASDAQ:PONY) Sets New 1-Year High – Here’s Why

Pony AI Inc. (NASDAQ:PONY) reached a new 52-week high on Wednesday . The stock traded as high as $18.49 and last traded at $18.31, with a volume of 3040961 shares. The stock had previously closed at $16.54.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PONY. Deutsche Bank Aktiengesellschaft began coverage on shares of Pony AI in a research note on Tuesday, January 14th. They issued a “buy” rating and a $20.00 target price for the company. The Goldman Sachs Group started coverage on Pony AI in a research report on Monday, December 23rd. They issued a “buy” rating and a $19.60 price objective for the company. Finally, Bank of America initiated coverage on Pony AI in a research note on Monday, December 23rd. They issued a “buy” rating and a $18.00 target price for the company.

Pony AI Stock Performance

The firm’s fifty day moving average is $14.18.

Institutional Investors Weigh In On Pony AI

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Toyota Motor Corp bought a new position in Pony AI in the fourth quarter valued at about $647,421,000. Ontario Teachers Pension Plan Board acquired a new position in Pony AI during the 4th quarter valued at about $310,559,000. IDG China Venture Capital Fund IV Associates L.P. bought a new position in shares of Pony AI in the 4th quarter valued at about $144,973,000. IDG China Capital Fund III Associates L.P. acquired a new stake in shares of Pony AI during the 4th quarter worth approximately $93,700,000. Finally, Aspex Management HK Ltd acquired a new position in Pony AI in the fourth quarter valued at approximately $34,091,000.

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.