Pony AI (NASDAQ:PONY) Shares Gap Down – Here’s What Happened

Pony AI Inc. (NASDAQ:PONY) shares gapped down prior to trading on Tuesday . The stock had previously closed at $13.21, but opened at $12.81. Pony AI shares last traded at $12.68, with a volume of 552,454 shares.

Analysts Set New Price Targets

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

Pony AI Price Performance

The firm has a 50 day simple moving average of $14.54.

Hedge Funds Weigh In On Pony AI

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP acquired a new stake in Pony AI during the 4th quarter worth about $19,334,000. Woodline Partners LP acquired a new stake in shares of Pony AI during the fourth quarter valued at approximately $2,206,000. Squarepoint Ops LLC purchased a new stake in shares of Pony AI in the 4th quarter valued at approximately $691,000. Toyota Motor Corp acquired a new position in Pony AI in the 4th quarter worth approximately $647,421,000. Finally, Millennium Management LLC purchased a new position in Pony AI during the 4th quarter worth approximately $596,000.

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.