Wellington Management Group LLP Boosts Stock Position in 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 boosted its stake in shares of Pony AI Inc. - Sponsored ADR (NASDAQ:PONY - Free Report) by 47.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,991,811 shares of the company's stock after purchasing an additional 644,518 shares during the quarter. Wellington Management Group LLP owned approximately 0.57% of Pony AI worth $17,568,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Keystone Investors PTE Ltd. purchased a new stake in Pony AI during the 1st quarter worth about $120,000. Barclays PLC purchased a new position in shares of Pony AI during the fourth quarter worth about $212,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Pony AI during the first quarter worth about $229,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Pony AI during the first quarter worth about $293,000. Finally, Prudential PLC purchased a new position in shares of Pony AI during the first quarter worth about $334,000.

Pony AI Stock Performance

Shares of PONY traded down $0.31 during trading hours on Friday, reaching $14.37. The company had a trading volume of 3,069,514 shares, compared to its average volume of 6,380,500. The firm has a 50 day simple moving average of $13.90 and a 200-day simple moving average of $13.16. 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 quarterly earnings results on Tuesday, August 12th. The company reported ($0.14) earnings per share (EPS) for the quarter. The firm had revenue of $21.45 million for the quarter. Equities research analysts predict that Pony AI Inc. - Sponsored ADR will post -0.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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