UBS Group Initiates Coverage on Pony AI (NASDAQ:PONY)

Key Points

• UBS Group initiated coverage of Pony AI with a "buy" rating and a price target of $20, suggesting a potential upside of 53.37% from the current stock price.
• Pony AI's stock has recently fallen by 3.0%, with a current price of $13.04 and a one-year range between $4.11 and $23.88.
• Several hedge funds, including Toyota Motor Corp and Ontario Teachers Pension Plan, have made significant new investments in Pony AI, indicating growing interest in the company.

UBS Group began coverage on shares of Pony AI (NASDAQ:PONY - Free Report) in a research note released on Monday, MarketBeat Ratings reports. The firm issued a buy rating and a $20.00 price objective on the stock.

PONY has been the subject of several other reports. Daiwa Capital Markets began coverage on Pony AI in a research report on Sunday, July 27th. They set an "outperform" rating for the company. Daiwa America upgraded shares of Pony AI to a "strong-buy" rating in a report on Sunday, July 27th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $19.40.

Pony AI Stock Down 1.6%

Shares of NASDAQ PONY traded down $0.24 during mid-day trading on Monday, hitting $14.70. The company's stock had a trading volume of 4,962,024 shares, compared to its average volume of 7,807,949. The company's fifty day simple moving average is $13.46 and its 200-day simple moving average is $13.01. Pony AI has a one year low of $4.11 and a one year high of $23.88.

Pony AI (NASDAQ:PONY - Get Free Report) last issued its earnings results on Tuesday, May 20th. The company reported ($0.12) EPS for the quarter. The business had revenue of $13.98 million for the quarter. Equities analysts expect that Pony AI will post -0.38 EPS for the current year.

Institutional Investors Weigh In On Pony AI

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PONY. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Pony AI by 3,136.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 632,791 shares of the company's stock worth $5,581,000 after buying an additional 613,238 shares during the last quarter. Yarbrough Capital LLC raised its holdings in Pony AI by 38.0% during the first quarter. Yarbrough Capital LLC now owns 100,001 shares of the company's stock worth $882,000 after acquiring an additional 27,538 shares in the last quarter. Barclays PLC acquired a new position in Pony AI during the fourth quarter valued at approximately $212,000. Allspring Global Investments Holdings LLC bought a new position in Pony AI in the first quarter valued at approximately $293,000. Finally, Soros Fund Management LLC acquired a new position in shares of Pony AI during the 4th quarter worth approximately $12,718,000.

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.