Pony AI (NASDAQ:PONY) Reaches New 12-Month Low – Here’s Why

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Bank of America began coverage on shares of Pony AI in a report on Monday, December 23rd. They issued a “buy” rating and a $18.00 target price on the stock. The Goldman Sachs Group started coverage on Pony AI in a research note on Monday, December 23rd. They issued a “buy” rating and a $19.60 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 target price on the stock.

Pony AI Stock Down 7.9 %

The company has a 50-day simple moving average of $14.48.

Hedge Funds Weigh In On Pony AI

A number of institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. bought a new position in Pony AI in the fourth quarter worth approximately $281,000. Neumann Advisory Hong Kong Ltd purchased a new stake in Pony AI during the fourth quarter worth $14,808,000. Matthews International Capital Management LLC bought a new stake in Pony AI during the 4th quarter valued at $1,654,000. Robeco Schweiz AG purchased a new position in shares of Pony AI in the 4th quarter valued at $8,811,000. Finally, IDG China Capital Fund III Associates L.P. bought a new position in shares of Pony AI in the 4th quarter worth $93,700,000.

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.