Pony AI (NASDAQ:PONY) Shares Gap Down – Here’s Why

Pony AI Inc. (NASDAQ:PONY)’s stock price gapped down prior to trading 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.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PONY shares. Bank of America assumed 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. The Goldman Sachs Group initiated coverage on shares of Pony AI in a research note on Monday, December 23rd. They set a “buy” rating and a $19.60 price target for the company. Finally, 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 price objective on the stock.

Pony AI Price Performance

The firm has a 50 day moving average of $14.59.

Institutional Investors Weigh In On Pony AI

Institutional investors and hedge funds have recently bought and sold shares of the stock. Woodline Partners LP bought a new position in shares of Pony AI during the fourth quarter valued at about $2,206,000. Squarepoint Ops LLC purchased a new stake in shares of Pony AI during the 4th quarter valued at approximately $691,000. Toyota Motor Corp bought a new position in Pony AI in the 4th quarter worth approximately $647,421,000. Millennium Management LLC purchased a new position in Pony AI in the 4th quarter valued at approximately $596,000. Finally, LMR Partners LLP bought a new stake in Pony AI during the 4th quarter valued at $1,435,000.

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.