Pony AI (NASDAQ:PONY) Stock Price Down 6.8% – Should You Sell?

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) shares were down 6.8% on Thursday . The stock traded as low as $9.70 and last traded at $9.6650. Approximately 1,482,506 shares changed hands during trading, a decline of 67% from the average daily volume of 4,462,411 shares. The stock had previously closed at $10.37.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PONY shares. Zacks Research upgraded shares of Pony AI from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. HSBC began coverage on shares of Pony AI in a research report on Tuesday, March 31st. They issued a “buy” rating and a $16.60 price target on the stock. The Goldman Sachs Group set a $30.00 price target on shares of Pony AI in a research report on Thursday, April 16th. Barclays lowered their price target on shares of Pony AI from $15.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Monday, March 30th. Finally, Wall Street Zen lowered shares of Pony AI from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.95.

Pony AI Stock Down 9.8%

The firm has a market cap of $3.32 billion, a PE ratio of -23.94 and a beta of 3.83. The firm’s 50 day moving average is $9.70 and its 200-day moving average is $12.57.

Pony AI (NASDAQ:PONY) last announced its quarterly earnings data on Tuesday, May 26th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.03. The business had revenue of $34.25 million for the quarter, compared to the consensus estimate of $22.30 million. Pony AI had a negative net margin of 128.22% and a negative return on equity of 17.13%. On average, analysts forecast that Pony AI Inc. – Sponsored ADR will post -0.67 earnings per share for the current year.

Hedge Funds Weigh In On Pony AI

Several institutional investors and hedge funds have recently modified their holdings of PONY. Blue Trust Inc. purchased a new position in shares of Pony AI during the first quarter valued at approximately $30,000. Leonteq Securities AG purchased a new position in shares of Pony AI during the fourth quarter valued at approximately $38,000. Jones Financial Companies Lllp lifted its stake in shares of Pony AI by 704.8% during the third quarter. Jones Financial Companies Lllp now owns 2,197 shares of the company’s stock valued at $47,000 after buying an additional 1,924 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Pony AI by 103.5% during the third quarter. JPMorgan Chase & Co. now owns 2,110 shares of the company’s stock valued at $47,000 after buying an additional 62,748 shares during the period. Finally, FNY Investment Advisers LLC purchased a new position in shares of Pony AI during the third quarter valued at approximately $50,000.

About Pony AI

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.