Pony AI (NASDAQ:PONY) Shares Gap Up - Here's What Happened

Key Points

• Pony AI's stock opened at $22.20, up from a previous close of $21.03, with a trading volume of over 1 million shares.
• Analysts generally maintain a positive outlook on Pony AI, with eight analysts rating it as a Buy and a consensus target price of $19.40.
• The company reported a quarterly loss of ($0.14) per share, while revenue for the quarter was $21.45 million.

Pony AI Inc. - Sponsored ADR (NASDAQ:PONY - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $21.03, but opened at $22.20. Pony AI shares last traded at $21.94, with a volume of 1,093,836 shares trading hands.

Wall Street Analysts Forecast Growth

PONY has been the topic of a number of analyst reports. Daiwa Capital Markets initiated coverage on Pony AI in a research report on Sunday, July 27th. They set an "outperform" rating on the stock. Wall Street Zen upgraded Pony AI from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 16th. Citigroup initiated coverage on Pony AI in a research report on Monday, September 29th. They set a "buy" rating on the stock. Jefferies Financial Group initiated coverage on shares of Pony AI in a research note on Friday. They issued a "buy" rating on the stock. Finally, UBS Group initiated 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. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Pony AI has a consensus rating of "Moderate Buy" and an average target price of $19.40.

Pony AI Stock Up 0.8%

The firm's fifty day simple moving average is $17.57 and its two-hundred day simple moving average is $14.10.

Pony AI (NASDAQ:PONY - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.14) earnings per share for the quarter. The company had revenue of $21.45 million during the quarter. Equities research analysts predict that Pony AI Inc. - Sponsored ADR will post -0.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pony AI

A number of hedge funds have recently made changes to their positions in PONY. CWM LLC purchased a new position in shares of Pony AI during the 2nd quarter worth approximately $28,000. Daiwa Securities Group Inc. purchased a new position in shares of Pony AI during the 2nd quarter worth approximately $64,000. Osaic Holdings Inc. purchased a new position in shares of Pony AI during the 2nd quarter worth approximately $140,000. Keystone Investors PTE Ltd. purchased a new position in shares of Pony AI during the 1st quarter worth approximately $120,000. Finally, SBI Securities Co. Ltd. boosted its position in shares of Pony AI by 776.4% during the 2nd quarter. SBI Securities Co. Ltd. now owns 15,329 shares of the company's stock worth $202,000 after purchasing an additional 13,580 shares during the period.

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.

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