Pony AI (NASDAQ:PONY) Shares Gap Up – What’s Next?

Pony AI Inc. (NASDAQ:PONY) shares gapped up before the market opened on Friday . The stock had previously closed at $14.86, but opened at $17.80. Pony AI shares last traded at $17.33, with a volume of 1,966,832 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have commented on PONY shares. The Goldman Sachs Group assumed coverage on Pony AI in a report on Monday, December 23rd. They issued a “buy” rating and a $19.60 price target for the company. Bank of America initiated coverage on Pony AI in a research report on Monday, December 23rd. They issued a “buy” rating and a $18.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Pony AI in a report on Tuesday, January 14th. They issued a “buy” rating and a $20.00 price target on the stock.

Pony AI Stock Up 11.3 %

The business’s fifty day moving average is $13.88.

Hedge Funds Weigh In On Pony AI

Several hedge funds and other institutional investors have recently modified their holdings of PONY. Ontario Teachers Pension Plan Board acquired a new position in Pony AI during the fourth quarter worth $310,559,000. IDG China Venture Capital Fund IV Associates L.P. acquired a new stake in shares of Pony AI during the 4th quarter worth about $144,973,000. IDG China Capital Fund III Associates L.P. acquired a new stake in shares of Pony AI during the 4th quarter worth about $93,700,000. Carlyle Group Inc. bought a new position in Pony AI during the 4th quarter valued at about $33,901,000. Finally, Wellington Management Group LLP acquired a new position in Pony AI in the fourth quarter valued at about $19,334,000.

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.