Pony AI (NASDAQ:PONY) Shares Gap Up – Should You Buy?

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) shares gapped up prior to trading on Monday . The stock had previously closed at $6.87, but opened at $7.28. Pony AI shares last traded at $6.9460, with a volume of 681,567 shares changing hands.

Analyst Upgrades and Downgrades

PONY has been the topic of several research analyst reports. Barclays decreased their target price 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. Macquarie Infrastructure reissued an “outperform” rating and issued a $24.00 price objective on shares of Pony AI in a research report on Tuesday, May 26th. BNP Paribas Exane began coverage on Pony AI in a report on Thursday, March 26th. They set a “neutral” rating and a $12.50 target price on the stock. Zacks Research raised shares of Pony AI from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Finally, HSBC initiated coverage on Pony AI in a research note on Tuesday, March 31st. They set a “buy” rating and a $16.60 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Pony AI currently has an average rating of “Moderate Buy” and an average target price of $19.95.

Pony AI Stock Performance

The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of -19.32 and a beta of 3.85. The business’s 50 day moving average price is $9.23 and its two-hundred day moving average price is $12.01.

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

Hedge Funds Weigh In On Pony AI

A number of large investors have recently modified their holdings of the stock. Banque Cantonale Vaudoise increased its position in Pony AI by 71.2% in the third quarter. Banque Cantonale Vaudoise now owns 3,662 shares of the company’s stock worth $82,000 after purchasing an additional 1,523 shares during the period. Baader Bank Aktiengesellschaft lifted its stake in Pony AI by 0.7% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 229,732 shares of the company’s stock valued at $3,330,000 after acquiring an additional 1,539 shares in the last quarter. Money Concepts Capital Corp boosted its holdings in Pony AI by 2.1% during the fourth quarter. Money Concepts Capital Corp now owns 93,546 shares of the company’s stock worth $1,356,000 after purchasing an additional 1,881 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in Pony AI during the third quarter valued at approximately $50,000. Finally, LPL Financial LLC raised its stake in shares of Pony AI by 14.4% during the 4th quarter. LPL Financial LLC now owns 18,674 shares of the company’s stock worth $271,000 after purchasing an additional 2,353 shares in the last quarter.

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.