Wellington Management Group LLP Purchases 644,518 Shares of Pony AI Inc. - Sponsored ADR $PONY

Key Points

• Wellington Management Group LLP increased its stake in Pony AI Inc. by 47.8%, owning 1,991,811 shares valued at approximately $17.57 million after acquiring an additional 644,518 shares in the 1st quarter.
• Multiple analysts have rated Pony AI positively, with UBS Group assigning a "buy" rating and a target price of $20.00, contributing to an average rating of "Buy" amongst analysts.
• Pony AI's stock price has risen by 1.6%, currently trading at $14.82, with a significant trading range over the past year between $4.11 and $23.88.

Wellington Management Group LLP grew its stake in shares of Pony AI Inc. - Sponsored ADR (NASDAQ:PONY - Free Report) by 47.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,991,811 shares of the company's stock after buying an additional 644,518 shares during the quarter. Wellington Management Group LLP owned 0.57% of Pony AI worth $17,568,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Pony AI by 3,136.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 632,791 shares of the company's stock valued at $5,581,000 after buying an additional 613,238 shares during the last quarter. Yarbrough Capital LLC grew its stake in shares of Pony AI by 38.0% during the first quarter. Yarbrough Capital LLC now owns 100,001 shares of the company's stock valued at $882,000 after buying an additional 27,538 shares during the last quarter. Prudential PLC bought a new position in shares of Pony AI during the first quarter valued at about $334,000. Barclays PLC bought a new position in shares of Pony AI during the fourth quarter valued at about $212,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Pony AI during the first quarter valued at about $293,000.

Pony AI Stock Down 2.1%

Shares of NASDAQ PONY traded down $0.31 during trading hours on Monday, hitting $14.37. The company's stock had a trading volume of 3,069,514 shares, compared to its average volume of 6,334,349. Pony AI Inc. - Sponsored ADR has a 12 month low of $4.11 and a 12 month high of $23.88. The business has a 50-day simple moving average of $13.96 and a 200-day simple moving average of $13.13.

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

Wall Street Analysts Forecast Growth

PONY has been the topic of a number of recent research reports. Wall Street Zen raised Pony AI from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 16th. Daiwa America raised Pony AI to a "strong-buy" rating in a research note on Sunday, July 27th. UBS Group assumed coverage on Pony AI in a research note on Monday, August 4th. They issued a "buy" rating and a $20.00 target price on the stock. Finally, Daiwa Capital Markets assumed coverage on Pony AI in a research note on Sunday, July 27th. They issued an "outperform" rating on the stock. One research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company's stock. According to MarketBeat.com, Pony AI currently has a consensus rating of "Buy" and an average price target of $19.40.

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.