Pony AI (NASDAQ:PONY) Trading Down 6.2% – What’s Next?

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) shares traded down 6.2% on Tuesday . The company traded as low as $16.10 and last traded at $16.30. 1,712,770 shares were traded during mid-day trading, a decline of 57% from the average session volume of 3,968,077 shares. The stock had previously closed at $17.37.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wall Street Zen cut Pony AI from a “hold” rating to a “sell” rating in a report on Saturday, December 20th. Jefferies Financial Group assumed coverage on shares of Pony AI in a research report on Friday, October 10th. They set a “buy” rating on the stock. Barclays began coverage on shares of Pony AI in a research report on Tuesday, December 16th. They issued an “equal weight” rating and a $15.00 price objective for the company. Citigroup restated a “buy” rating on shares of Pony AI in a report on Thursday. Finally, Macquarie started coverage on shares of Pony AI in a research report on Monday, December 15th. They set an “outperform” rating and a $29.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Pony AI has an average rating of “Moderate Buy” and a consensus target price of $22.10.

Pony AI Stock Down 1.4%

The stock has a market capitalization of $6.11 billion, a P/E ratio of -11.26 and a beta of 6.42. The company has a 50 day moving average of $14.56 and a 200-day moving average of $15.89.

Institutional Investors Weigh In On Pony AI

Institutional investors and hedge funds have recently bought and sold shares of the business. Banque Cantonale Vaudoise boosted its stake in Pony AI by 71.2% in the third quarter. Banque Cantonale Vaudoise now owns 3,662 shares of the company’s stock valued at $82,000 after acquiring an additional 1,523 shares during the period. Jones Financial Companies Lllp boosted its position in Pony AI by 704.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,197 shares of the company’s stock valued at $47,000 after purchasing an additional 1,924 shares during the period. CWM LLC acquired a new position in Pony AI during the 2nd quarter valued at approximately $28,000. FNY Investment Advisers LLC bought a new position in Pony AI during the 3rd quarter worth $50,000. Finally, SBI Securities Co. Ltd. increased its position in Pony AI by 29.7% in the third quarter. SBI Securities Co. Ltd. now owns 19,875 shares of the company’s stock worth $447,000 after buying an additional 4,546 shares during the period.

Pony AI Company Profile

Pony.ai develops autonomous driving technologies for passenger and goods transportation. The company offers an end-to-end self-driving stack that combines perception, planning and control systems with proprietary hardware and software. Pony.ai’s solutions support robotaxi services and advanced driver-assistance system (ADAS) deployments across urban and suburban environments.

Founded in late 2016 by James Peng and Sean Gong, Pony.ai operates research and development centers in Fremont, California, as well as in Guangzhou and Beijing, China.