Pony AI (NASDAQ:PONY) Stock Price Up 14.3% – Here’s What Happened

Pony AI Inc. (NASDAQ:PONY) shares rose 14.3% during mid-day trading on Monday . The stock traded as high as $21.29 and last traded at $20.49. Approximately 5,634,028 shares changed hands during mid-day trading, an increase of 5% from the average daily volume of 5,354,982 shares. The stock had previously closed at $17.93.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft began coverage on Pony AI in a research report on Tuesday, January 14th. They issued a “buy” rating and a $20.00 price objective for the company.

Pony AI Price Performance

The stock has a 50-day moving average of $9.73.

Hedge Funds Weigh In On Pony AI

A number of large investors have recently bought and sold shares of the company. Toyota Motor Corp acquired a new position in Pony AI during the 4th quarter worth approximately $647,421,000. Ontario Teachers Pension Plan Board bought a new stake in shares of Pony AI during the 4th quarter worth approximately $310,559,000. IDG China Venture Capital Fund IV Associates L.P. bought a new stake in shares of Pony AI during the 4th quarter worth approximately $144,973,000. IDG China Capital Fund III Associates L.P. bought a new stake in shares of Pony AI during the 4th quarter worth approximately $93,700,000. Finally, Aspex Management HK Ltd bought a new stake in shares of Pony AI during the 4th quarter worth approximately $34,091,000.

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.