Pony AI (NASDAQ:PONY) Sees Strong Trading Volume - 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) saw an uptick in trading volume on Tuesday . 5,759,940 shares were traded during 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.

Analyst Upgrades and Downgrades

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

Pony AI Stock Up 4.7%

The business's 50 day moving average price is $13.44 and its 200-day moving average price is $13.09.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PONY. Barclays PLC purchased a new position in Pony AI in the 4th quarter valued at approximately $212,000. Walleye Capital LLC purchased a new stake in shares of Pony AI during the 4th quarter worth $402,000. HITE Hedge Asset Management LLC acquired a new position in shares of Pony AI during the 4th quarter worth about $975,000. MYDA Advisors LLC acquired a new position in Pony AI in the fourth quarter valued at approximately $718,000. Finally, Stifel Financial Corp purchased a new position in shares of Pony AI in the 4th quarter valued at $1,237,000.

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.