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

Key Points

• Pony AI experienced a significant spike in trading volume, with approximately 15.2 million shares traded, a 97% increase compared to the previous session.
• Wall Street analysts generally hold a positive outlook on Pony AI, with a consensus rating of "Buy" and a target price around $19.40.
• Institutional investors are actively acquiring shares, with firms like HSG Holding Ltd and TMT General Partner Ltd significantly increasing their stakes in the company.

Shares of Pony AI Inc. - Sponsored ADR (NASDAQ:PONY - Get Free Report) saw an uptick in trading volume on Friday . 15,164,054 shares were traded during trading, an increase of 97% from the previous session's volume of 7,681,278 shares.The stock last traded at $20.06 and had previously closed at $17.47.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PONY. Daiwa Capital Markets began coverage on Pony AI in a research note on Sunday, July 27th. They set an "outperform" rating for the company. UBS Group began coverage on Pony AI in a research note on Monday, August 4th. They set a "buy" rating and a $20.00 price objective for the company. Daiwa America raised Pony AI to a "strong-buy" rating in a research note on Sunday, July 27th. Finally, Wall Street Zen raised Pony AI from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $19.40.

Pony AI Stock Up 18.5%

The company has a 50-day moving average price of $14.69 and a 200 day moving average price of $12.98.

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

Institutional Trading of Pony AI

Hedge funds and other institutional investors have recently modified their holdings of the business. CWM LLC acquired a new stake in shares of Pony AI in the second quarter worth $28,000. Daiwa Securities Group Inc. purchased a new stake in shares of Pony AI during the second quarter worth $64,000. Keystone Investors PTE Ltd. purchased a new stake in shares of Pony AI during the first quarter worth $120,000. Goldman Sachs Group Inc. purchased a new stake in shares of Pony AI during the first quarter worth $139,000. Finally, Osaic Holdings Inc. purchased a new stake in shares of Pony AI during the second quarter worth $140,000.

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.