Pony AI (NASDAQ:PONY) Shares Gap Up - Still a Buy?

Key Points

• Pony AI's shares gapped up from a previous close of $15.13 to an opening price of $16.07, but last traded at $14.95 with significant trading volume of over 10 million shares.
• Daiwa Capital Markets has initiated coverage on Pony AI with an "outperform" rating, indicating positive future expectations for the company's stock performance.
• Recent institutional investments have been notable, with new acquisitions in Pony AI by several large investors, including Wellington Management Group, indicating a growing interest in the stock.

Pony AI Inc. - Sponsored ADR (NASDAQ:PONY - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $15.13, but opened at $16.07. Pony AI shares last traded at $14.95, with a volume of 10,221,768 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Daiwa Capital Markets initiated coverage on shares of Pony AI in a report on Sunday. They issued an "outperform" rating for the company.

Pony AI Trading Down 1.3%

The business's fifty day moving average price is $14.24 and its 200 day moving average price is $13.00.

Pony AI (NASDAQ:PONY - Get Free Report) last posted its earnings results on Tuesday, May 20th. The company reported ($0.12) EPS for the quarter. The firm had revenue of $13.98 million for the quarter. As a group, research analysts predict that Pony AI Inc. - Sponsored ADR will post -0.38 EPS for the current year.

Institutional Trading of Pony AI

A number of large investors have recently modified their holdings of PONY. Wellington Management Group LLP acquired a new position in Pony AI in the fourth quarter worth approximately $19,334,000. Alliancebernstein L.P. acquired a new stake in Pony AI during the fourth quarter worth about $3,354,000. Pinpoint Asset Management Ltd acquired a new stake in shares of Pony AI in the 4th quarter valued at $108,000. Pamalican Asset Management Ltd bought a new position in shares of Pony AI in the fourth quarter worth about $7,917,000. Finally, Ovata Capital Management Ltd bought a new stake in shares of Pony AI during the fourth quarter worth approximately $538,000.

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.

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