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

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.

Shares of Pony AI Inc. - Sponsored ADR (NASDAQ:PONY - Get Free Report) gapped up before the market opened 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 traded.

Analysts Set New Price Targets

Several research firms have issued reports on PONY. Daiwa Capital Markets began coverage on Pony AI in a research note on Sunday. They set an "outperform" rating for the company. Daiwa America raised Pony AI to a "strong-buy" rating in a research note on Sunday. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $19.20.

Pony AI Trading Up 2.4%

The stock's fifty day simple moving average is $14.03 and its 200-day simple moving average is $13.00.

Pony AI (NASDAQ:PONY - Get Free Report) last announced its quarterly earnings data on Tuesday, May 20th. The company reported ($0.12) earnings per share (EPS) for the quarter. The firm had revenue of $13.98 million during the quarter. Equities analysts predict that Pony AI Inc. - Sponsored ADR will post -0.38 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PONY. CWM LLC acquired a new position in Pony AI during the 2nd quarter worth $28,000. Pinpoint Asset Management Ltd acquired a new position in Pony AI during the 4th quarter worth $108,000. Keystone Investors PTE Ltd. acquired a new stake in shares of Pony AI in the 1st quarter valued at $120,000. Goldman Sachs Group Inc. acquired a new stake in shares of Pony AI in the 1st quarter valued at $139,000. Finally, Barclays PLC acquired a new position in shares of Pony AI during the fourth quarter worth $212,000.

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.