Pony AI (NASDAQ:PONY) Sees Unusually-High Trading Volume – Still a Buy?

Pony AI Inc. (NASDAQ:PONY) shares saw unusually-high trading volume on Tuesday . Approximately 1,028,088 shares traded hands during mid-day trading, an increase of 2% from the previous session’s volume of 1,007,826 shares.The stock last traded at $17.72 and had previously closed at $16.54.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PONY shares. Bank of America assumed coverage on shares of Pony AI in a research report on Monday, December 23rd. They set a “buy” rating and a $18.00 price objective for the company. Deutsche Bank Aktiengesellschaft started coverage on shares of 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 began coverage on shares of Pony AI in a research note on Monday, December 23rd. They issued a “buy” rating and a $19.60 price target for the company.

Pony AI Price Performance

The firm’s fifty day moving average is $13.99.

Institutional Trading of Pony AI

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