Pony AI (NASDAQ:PONY) Shares Down 12.4% – Should You Sell?

Pony AI Inc. (NASDAQ:PONY)’s share price traded down 12.4% during mid-day trading on Monday . The company traded as low as $13.27 and last traded at $13.31. 2,494,958 shares changed hands during trading, an increase of 74% from the average session volume of 1,433,024 shares. The stock had previously closed at $15.20.

Analyst Ratings Changes

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

Pony AI Stock Performance

The firm’s fifty day moving average price is $14.95.

Institutional Trading of Pony AI

Several hedge funds have recently made changes to their positions in PONY. Woodline Partners LP acquired a new position in Pony AI in the fourth quarter valued at approximately $2,206,000. Squarepoint Ops LLC acquired a new position in shares of Pony AI in the 4th quarter valued at $691,000. Toyota Motor Corp purchased a new position in shares of Pony AI during the 4th quarter worth $647,421,000. Millennium Management LLC acquired a new stake in shares of Pony AI during the 4th quarter worth about $596,000. Finally, LMR Partners LLP acquired a new position in Pony AI in the fourth quarter valued at about $1,435,000.

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.