Pony AI (NASDAQ:PONY) Shares Gap Up – Time to Buy?

Shares of Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) gapped up prior to trading on Monday . The stock had previously closed at $11.19, but opened at $11.79. Pony AI shares last traded at $11.99, with a volume of 1,334,395 shares changing hands.

Wall Street Analyst Weigh In

PONY has been the subject of several research reports. Wall Street Zen raised Pony AI from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 16th. Citigroup cut their price objective on Pony AI from $29.00 to $24.50 and set a “buy” rating for the company in a research report on Friday, November 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Pony AI in a research note on Wednesday, October 8th. Jefferies Financial Group assumed coverage on Pony AI in a research report on Friday, October 10th. They set a “buy” rating for the company. Finally, Daiwa Capital Markets started coverage on Pony AI in a report on Sunday, July 27th. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.42.

Pony AI Price Performance

The stock has a market cap of $4.84 billion and a price-to-earnings ratio of -10.06. The stock’s 50-day moving average is $18.57 and its 200-day moving average is $16.01.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Banque Cantonale Vaudoise purchased a new position in shares of Pony AI during the 1st quarter worth about $2,336,000. Baader Bank Aktiengesellschaft acquired a new position in Pony AI during the first quarter worth approximately $1,138,000. Keystone Investors PTE Ltd. purchased a new position in Pony AI during the first quarter worth approximately $120,000. Prudential PLC purchased a new position in Pony AI during the first quarter worth approximately $334,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Pony AI in the 1st quarter valued at $229,000.

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.