Pony AI (NASDAQ:PONY) Sees Strong Trading Volume – Here’s Why

Pony AI Inc. (NASDAQ:PONY) saw unusually-high trading volume on Tuesday . Approximately 1,028,088 shares changed hands during trading, an increase of 2% from the previous session’s volume of 1,007,826 shares.The stock last traded at $17.72 and had previously closed at $16.54.

Wall Street Analysts Forecast Growth

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

Pony AI Trading Up 10.7 %

The firm’s 50-day moving average is $13.99.

Institutional Investors Weigh In On Pony AI

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