Pony AI (NASDAQ:PONY) Sees Unusually-High Trading Volume – Still a Buy?

Pony AI Inc. (NASDAQ:PONY) shares saw strong trading volume on Friday . 8,097,302 shares changed hands during 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.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft began coverage on shares of 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 Stock Up 21.5 %

The business’s 50 day simple moving average is $9.86.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Toyota Motor Corp acquired a new position in Pony AI during the fourth quarter worth approximately $647,421,000. Ontario Teachers Pension Plan Board acquired a new stake in shares of Pony AI during the 4th quarter worth $310,559,000. IDG China Venture Capital Fund IV Associates L.P. purchased a new position in shares of Pony AI in the 4th quarter worth $144,973,000. IDG China Capital Fund III Associates L.P. acquired a new position in Pony AI in the fourth quarter valued at $93,700,000. Finally, Aspex Management HK Ltd purchased a new stake in Pony AI during the fourth quarter valued at about $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.