Pony AI (NASDAQ:PONY) Trading Up 10.6% - Here's What Happened

Key Points

• Pony AI Inc. saw its share price increase by 10.6% to $22.73 after closing at $20.56, despite a 49% decrease in trading volume compared to its average.
• Analysts are optimistic about Pony AI, with a consensus rating of "Buy" and a target price of $19.40, following upgrades from multiple firms, including Daiwa Capital Markets and UBS Group.
• Recently, several large investors have acquired new positions in Pony AI, including SBI Securities Co. Ltd. which raised its stake by 776.4%.

Pony AI Inc. - Sponsored ADR (NASDAQ:PONY - Get Free Report)'s share price shot up 10.6% during trading on Tuesday . The company traded as high as $22.92 and last traded at $22.73. 3,930,973 shares changed hands during trading, a decline of 49% from the average session volume of 7,779,432 shares. The stock had previously closed at $20.56.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PONY. Daiwa Capital Markets assumed coverage on shares of Pony AI in a report on Sunday, July 27th. They issued an "outperform" rating for the company. UBS Group initiated coverage on Pony AI in a research report on Monday, August 4th. They set a "buy" rating and a $20.00 target price 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 upgraded shares of Pony AI from a "strong sell" rating to a "hold" rating in a report on Saturday, August 16th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $19.40.

Pony AI Stock Up 3.5%

The business has a fifty day moving average of $14.85 and a two-hundred day moving average of $13.02.

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 firm had revenue of $21.45 million during the quarter. Analysts forecast that Pony AI Inc. - Sponsored ADR will post -0.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pony AI

Several large investors have recently bought and sold shares of the company. CWM LLC purchased a new position in shares of Pony AI in the second quarter valued at approximately $28,000. Daiwa Securities Group Inc. acquired a new stake in Pony AI during the 2nd quarter worth $64,000. Osaic Holdings Inc. purchased a new stake in shares of Pony AI during the second quarter worth $140,000. Keystone Investors PTE Ltd. purchased a new stake in shares of Pony AI during the first quarter worth $120,000. Finally, SBI Securities Co. Ltd. raised its position in shares of Pony AI by 776.4% in the second quarter. SBI Securities Co. Ltd. now owns 15,329 shares of the company's stock valued at $202,000 after buying an additional 13,580 shares during the last quarter.

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.

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