HITE Hedge Asset Management LLC Raises Stock Holdings in Pony AI Inc. - Sponsored ADR $PONY

Key Points

• HITE Hedge Asset Management LLC increased its stake in Pony AI Inc. by 45.1% to 98,588 shares, valuing their holdings at $870,000 as per their recent SEC filing.
• Several other large investors, including Toyota Motor Corp, have also made significant investments, with Toyota acquiring a position valued at $647 million.
• Pony AI's stock currently holds a consensus rating of "Buy" with a target price of $19.40, following positive upgrades from various analysts.

HITE Hedge Asset Management LLC boosted its position in Pony AI Inc. - Sponsored ADR (NASDAQ:PONY - Free Report) by 45.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 98,588 shares of the company's stock after acquiring an additional 30,654 shares during the period. HITE Hedge Asset Management LLC's holdings in Pony AI were worth $870,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PONY. Toyota Motor Corp bought a new stake in Pony AI in the 4th quarter valued at about $647,421,000. Aspex Management HK Ltd bought a new stake in Pony AI in the 4th quarter valued at about $34,091,000. Wellington Management Group LLP bought a new stake in Pony AI in the 4th quarter valued at about $19,334,000. Soros Fund Management LLC bought a new stake in Pony AI in the 4th quarter valued at about $12,718,000. Finally, Janus Henderson Group PLC bought a new stake in Pony AI in the 4th quarter valued at about $12,203,000.

Pony AI Stock Up 3.0%

PONY stock traded up $0.43 during mid-day trading on Friday, reaching $14.79. 4,481,314 shares of the company traded hands, compared to its average volume of 7,645,997. Pony AI Inc. - Sponsored ADR has a 52-week low of $4.11 and a 52-week high of $23.88. The company has a fifty day moving average price of $13.68 and a 200-day moving average price of $13.15.

Pony AI (NASDAQ:PONY - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.14) EPS for the quarter. The firm had revenue of $21.45 million during the quarter. On average, equities analysts predict that Pony AI Inc. - Sponsored ADR will post -0.38 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PONY shares. Daiwa Capital Markets initiated coverage on Pony AI in a research note on Sunday, July 27th. They issued an "outperform" rating on the stock. Daiwa America raised Pony AI to a "strong-buy" rating in a report on Sunday, July 27th. Wall Street Zen raised Pony AI from a "strong sell" rating to a "hold" rating in a report on Saturday, August 16th. Finally, UBS Group initiated coverage on Pony AI in a report on Monday, August 4th. They set a "buy" rating and a $20.00 target price for the company. One analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $19.40.

Pony AI 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.