Pony AI (NASDAQ:PONY) Trading Up 9.3% - Still a Buy?

Key Points

• Pony AI's stock price increased by 9.3% during mid-day trading, reaching as high as $16.44, amidst a drop in trading volume compared to its average.
• Equities research analysts have a positive outlook on Pony AI, with the consensus rating being "Buy" and a target price of $19.40.
• Several large investors have recently entered positions in Pony AI, indicating increasing interest, with purchases ranging up to approximately $3.8 million.

Pony AI Inc. - Sponsored ADR (NASDAQ:PONY - Get Free Report)'s share price was up 9.3% during mid-day trading on Monday . The company traded as high as $16.44 and last traded at $16.39. Approximately 4,662,547 shares changed hands during mid-day trading, a decline of 38% from the average daily volume of 7,519,975 shares. The stock had previously closed at $14.99.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on PONY shares. UBS Group began coverage on Pony AI in a research note on Monday, August 4th. They issued a "buy" rating and a $20.00 price objective on the stock. Daiwa America upgraded Pony AI to a "strong-buy" rating in a research note on Sunday, July 27th. Wall Street Zen upgraded Pony AI from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 16th. Finally, Daiwa Capital Markets began coverage on Pony AI in a research note on Sunday, July 27th. They issued an "outperform" rating for the company. One research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company's stock. According to data from MarketBeat.com, Pony AI presently has a consensus rating of "Buy" and a consensus target price of $19.40.

Pony AI Trading Up 10.9%

The stock has a fifty day moving average of $14.16 and a two-hundred day moving average of $12.89.

Pony AI (NASDAQ:PONY - Get Free Report) last announced 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. As a group, research analysts anticipate that Pony AI Inc. - Sponsored ADR will post -0.38 earnings per share for the current year.

Hedge Funds Weigh In On Pony AI

A number of large investors have recently bought and sold shares of the stock. Osaic Holdings Inc. purchased a new position in Pony AI in the 2nd quarter worth approximately $140,000. Johns Hopkins University purchased a new position in shares of Pony AI during the second quarter valued at approximately $207,000. Nikko Asset Management Americas Inc. purchased a new position in shares of Pony AI during the second quarter valued at approximately $3,848,000. Rafferty Asset Management LLC purchased a new position in shares of Pony AI during the second quarter valued at approximately $270,000. Finally, Mission Creek Capital Partners Inc. purchased a new position in shares of Pony AI during the second quarter valued at approximately $335,000.

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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