Pony AI Inc. - Sponsored ADR $PONY Shares Acquired by HITE Hedge Asset Management LLC

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

A number of other hedge funds have also recently modified their holdings of PONY. Keystone Investors PTE Ltd. purchased a new stake in shares of Pony AI in the first quarter valued at about $120,000. Barclays PLC purchased a new stake in shares of Pony AI in the fourth quarter valued at about $212,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Pony AI in the first quarter valued at about $229,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Pony AI in the first quarter valued at about $293,000. Finally, Prudential PLC purchased a new stake in shares of Pony AI in the first quarter valued at about $334,000.

Analyst Upgrades and Downgrades

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

Pony AI Trading Up 3.0%

PONY stock traded up $0.43 during mid-day trading on Friday, hitting $14.79. 4,481,314 shares of the company were exchanged, compared to its average volume of 7,903,396. The business has a fifty day simple moving average of $13.68 and a 200-day simple moving average of $13.15. Pony AI Inc. - Sponsored ADR has a 12-month low of $4.11 and a 12-month high of $23.88.

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

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.