Pony AI (NASDAQ:PONY) Stock Price Up 6.7% on Analyst Upgrade

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY)’s stock price shot up 6.7% during trading on Tuesday after Barclays upgraded the stock to a hold rating. The company traded as high as $14.74 and last traded at $14.51. 2,355,881 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 7,409,992 shares. The stock had previously closed at $13.60.

PONY has been the topic of several other reports. Citigroup cut their price target on Pony AI from $29.00 to $24.50 and set a “buy” rating on the stock in a research report on Friday, November 7th. Jefferies Financial Group initiated coverage on Pony AI in a research report on Friday, October 10th. They issued a “buy” rating for the company. Macquarie began coverage on Pony AI in a report on Monday. They issued an “outperform” rating and a $29.00 price objective on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Pony AI in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Pony AI presently has an average rating of “Moderate Buy” and a consensus price target of $20.87.

Hedge Funds Weigh In On Pony AI

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWM LLC acquired a new position in Pony AI during the second quarter worth about $28,000. Jones Financial Companies Lllp increased its holdings in shares of Pony AI by 704.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,197 shares of the company’s stock worth $47,000 after buying an additional 1,924 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Pony AI by 103.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,110 shares of the company’s stock valued at $47,000 after purchasing an additional 62,748 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Pony AI in the third quarter worth $50,000. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Pony AI during the second quarter worth about $64,000.

Pony AI Stock Up 0.6%

The company has a market cap of $5.49 billion and a PE ratio of -10.11. The business’s 50 day moving average price is $16.03 and its 200-day moving average price is $15.51.

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.