Pony AI (NASDAQ:PONY) Sets New 1-Year Low – Should You Sell?

Pony AI Inc. (NASDAQ:PONY)’s stock price reached a new 52-week low during trading on Tuesday . The stock traded as low as $8.33 and last traded at $8.82, with a volume of 1934564 shares changing hands. The stock had previously closed at $8.97.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PONY. Bank of America started coverage on shares of Pony AI in a report on Monday, December 23rd. They set a “buy” rating and a $18.00 price objective on the stock. Deutsche Bank Aktiengesellschaft started 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. Finally, The Goldman Sachs Group assumed coverage on Pony AI in a research report on Monday, December 23rd. They set a “buy” rating and a $19.60 price objective on the stock.

Pony AI Trading Down 4.2 %

The business’s 50 day moving average price is $14.07.

Institutional Investors Weigh In On Pony AI

A number of institutional investors have recently added to or reduced their stakes in PONY. Pinpoint Asset Management Ltd acquired a new position in shares of Pony AI in the 4th quarter worth approximately $108,000. Barclays PLC acquired a new position in Pony AI during the fourth quarter worth $212,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Pony AI during the fourth quarter worth $281,000. Walleye Capital LLC bought a new position in shares of Pony AI during the fourth quarter valued at $402,000. Finally, Ovata Capital Management Ltd acquired a new stake in shares of Pony AI in the 4th quarter valued at $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.