Pony AI (NASDAQ:PONY) Coverage Initiated by Analysts at Macquarie

Equities researchers at Macquarie assumed coverage on shares of Pony AI (NASDAQ:PONY) in a report released on Monday, Marketbeat.com reports. The firm set an “outperform” rating and a $29.00 price target on the stock. Macquarie’s target price points to a potential upside of 98.77% from the stock’s previous close.

PONY has been the subject of several other research reports. Jefferies Financial Group initiated coverage on shares of Pony AI in a research note on Friday, October 10th. They issued a “buy” rating for the company. Citigroup cut their price objective on shares of Pony AI from $29.00 to $24.50 and set a “buy” rating for the company in a research report on Friday, November 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Pony AI in a research report on Wednesday, October 8th. Finally, Barclays set a $15.00 price target on Pony AI and gave the company an “equal weight” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.87.

Pony AI Stock Up 7.3%

NASDAQ PONY opened at $14.59 on Monday. Pony AI has a fifty-two week low of $4.11 and a fifty-two week high of $24.92. The business has a fifty day moving average of $16.21 and a 200-day moving average of $15.52. The stock has a market cap of $5.62 billion and a price-to-earnings ratio of -10.35.

Hedge Funds Weigh In On Pony AI

Several hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC purchased a new position in Pony AI in the second quarter valued at approximately $28,000. Jones Financial Companies Lllp increased its position in shares of Pony AI by 704.8% in the third quarter. Jones Financial Companies Lllp now owns 2,197 shares of the company’s stock worth $47,000 after acquiring an additional 1,924 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Pony AI by 103.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,110 shares of the company’s stock valued at $47,000 after acquiring an additional 62,748 shares during the period. FNY Investment Advisers LLC purchased a new stake in Pony AI during the 3rd quarter worth $50,000. Finally, Daiwa Securities Group Inc. purchased a new stake in Pony AI during the 2nd quarter worth $64,000.

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.