Pony AI (NASDAQ:PONY) Sees Large Volume Increase - Here's What Happened

Key Points

• Pony AI saw a significant trading volume increase with 5,759,940 shares traded, although this represents a 26% decline from the previous session.
• Analysts have expressed positive sentiment towards Pony AI, with five giving it a "buy" rating and a new average price target of $19.40.
• The stock recently reported earnings of ($0.14) per share for the quarter, and analysts anticipate a further -0.38 EPS for the fiscal year.

Pony AI Inc. - Sponsored ADR (NASDAQ:PONY - Get Free Report) shares saw unusually-strong trading volume on Tuesday . Approximately 5,759,940 shares were traded during mid-day trading, a decline of 26% from the previous session's volume of 7,799,483 shares.The stock last traded at $13.35 and had previously closed at $14.88.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PONY shares. Daiwa Capital Markets started coverage on shares of Pony AI in a research note on Sunday, July 27th. They issued an "outperform" rating for the company. Daiwa America raised shares of Pony AI to a "strong-buy" rating in a research note on Sunday, July 27th. Finally, UBS Group started coverage on shares of Pony AI in a research note on Monday, August 4th. They issued a "buy" rating and a $20.00 target price for the company. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $19.40.

Pony AI Price Performance

The stock's 50 day moving average is $13.40 and its two-hundred day moving average is $13.07.

Pony AI (NASDAQ:PONY - Get Free Report) last posted 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 for the quarter. Analysts predict that Pony AI Inc. - Sponsored ADR will post -0.38 earnings per share for the current year.

Hedge Funds Weigh In On Pony AI

A number of large investors have recently modified their holdings of the business. Toyota Motor Corp acquired a new position in shares of Pony AI during the 4th quarter worth about $647,421,000. TMT General Partner Ltd bought a new stake in shares of Pony AI in the 2nd quarter valued at about $71,903,000. Lingotto Investment Management LLP raised its holdings in shares of Pony AI by 55.6% in the 2nd quarter. Lingotto Investment Management LLP now owns 2,379,892 shares of the company's stock valued at $31,415,000 after purchasing an additional 850,000 shares during the period. Aspex Management HK Ltd bought a new stake in shares of Pony AI in the 4th quarter valued at about $34,091,000. Finally, Soros Fund Management LLC raised its holdings in shares of Pony AI by 11.9% in the 2nd quarter. Soros Fund Management LLC now owns 2,128,603 shares of the company's stock valued at $28,098,000 after purchasing an additional 226,755 shares during the period.

About Pony AI

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.