Pony AI Inc.’s Quiet Period To End on January 6th (NASDAQ:PONY)

Pony AI’s (NASDAQ:PONY) quiet period is set to expire on Monday, January 6th. Pony AI had issued 20,000,000 shares in its IPO on November 27th. The total size of the offering was $260,000,000 based on an initial share price of $13.00. During Pony AI’s quiet period, insiders and underwriters that worked on the IPO are restricted from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analyst Upgrades and Downgrades

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

Pony AI Trading Down 3.7 %

Pony AI stock opened at $13.72 on Monday. Pony AI has a fifty-two week low of $11.90 and a fifty-two week high of $16.32.

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.