Pony AI (NASDAQ:PONY) Hits New 52-Week Low – Should You Sell?

Pony AI Inc. (NASDAQ:PONY) reached a new 52-week low during trading on Wednesday . The stock traded as low as $11.75 and last traded at $12.14, with a volume of 3458048 shares changing hands. The stock had previously closed at $13.21.

Wall Street Analyst Weigh In

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

Pony AI Trading Down 8.1 %

The stock has a 50-day moving average price of $14.59.

Institutional Trading of Pony AI

Large investors have recently added to or reduced their stakes in the business. Neumann Advisory Hong Kong Ltd acquired a new position in Pony AI during the 4th quarter worth $14,808,000. Matthews International Capital Management LLC acquired a new stake in Pony AI in the fourth quarter worth about $1,654,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Pony AI in the 4th quarter valued at about $281,000. Lingotto Investment Management LLP acquired a new position in Pony AI during the 4th quarter valued at about $17,220,000. Finally, Robeco Schweiz AG bought a new stake in shares of Pony AI during the 4th quarter worth about $8,811,000.

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.