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

Pony AI Inc. (NASDAQ:PONY) shares gapped down before the market opened on Monday . The stock had previously closed at $23.61, but opened at $21.67. Pony AI shares last traded at $19.67, with a volume of 1,588,006 shares traded.

Analysts Set New Price Targets

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

Pony AI Price Performance

The stock has a fifty day moving average price of $14.59.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Pinpoint Asset Management Ltd acquired a new stake in shares of Pony AI in the fourth quarter valued at about $108,000. Barclays PLC bought a new stake in Pony AI during the fourth quarter valued at $212,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Pony AI during the 4th quarter worth about $281,000. Walleye Capital LLC bought a new position in shares of Pony AI in the 4th quarter worth about $402,000. Finally, Ovata Capital Management Ltd acquired a new position in shares of Pony AI in the 4th quarter valued at about $538,000.

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.