Pony AI (NASDAQ:PONY) Sees Large Volume Increase – Still a Buy?

Pony AI Inc. (NASDAQ:PONY) saw unusually-high trading volume on Friday . Approximately 8,097,302 shares were traded during mid-day trading, an increase of 120% from the previous session’s volume of 3,686,577 shares.The stock last traded at $9.97 and had previously closed at $8.56.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Pony AI in a research note on Tuesday, January 14th. They set a “buy” rating and a $20.00 price objective for the company.

Pony AI Stock Up 21.5 %

The firm has a 50 day moving average price of $9.86.

Hedge Funds Weigh In On Pony AI

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Pony AI during the fourth quarter valued at approximately $281,000. Neumann Advisory Hong Kong Ltd purchased a new stake in Pony AI during the 4th quarter worth $14,808,000. Matthews International Capital Management LLC acquired a new position in Pony AI in the 4th quarter worth $1,654,000. Soros Fund Management LLC purchased a new position in Pony AI in the 4th quarter valued at about $12,718,000. Finally, Robeco Schweiz AG acquired a new stake in shares of Pony AI during the fourth quarter valued at about $8,811,000.

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.