Pony AI (NASDAQ:PONY) Releases Quarterly Earnings Results

Pony AI (NASDAQ:PONY) posted its earnings results on Tuesday. The company reported ($0.16) earnings per share for the quarter, Zacks reports. Pony AI had a negative return on equity of 36.90% and a negative net margin of 350.98%.The firm had revenue of $25.44 million for the quarter.

Pony AI Trading Up 0.9%

Pony AI stock opened at $13.45 on Thursday. Pony AI has a 12 month low of $4.11 and a 12 month high of $24.92. The company has a market capitalization of $5.18 billion and a price-to-earnings ratio of -9.54. The business’s fifty day simple moving average is $18.33 and its two-hundred day simple moving average is $15.93.

Analysts Set New Price Targets

Several research firms have weighed in on PONY. Citigroup dropped their price objective on Pony AI from $29.00 to $24.50 and set a “buy” rating for the company in a report on Friday, November 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Pony AI in a report on Wednesday, October 8th. UBS Group began coverage on shares of Pony AI in a report on Monday, August 4th. They issued a “buy” rating and a $20.00 price objective for the company. Wall Street Zen upgraded shares of Pony AI from a “strong sell” rating to a “hold” rating in a report on Saturday, August 16th. Finally, Jefferies Financial Group started coverage on shares of Pony AI in a research report on Friday, October 10th. They issued a “buy” rating on the stock. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.42.

Hedge Funds Weigh In On Pony AI

Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in Pony AI by 103.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,110 shares of the company’s stock valued at $47,000 after purchasing an additional 62,748 shares in the last quarter. Banque Cantonale Vaudoise lifted its stake in shares of 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 buying an additional 1,523 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of Pony AI during the second quarter valued at approximately $64,000. Advisory Services Network LLC bought a new stake in shares of Pony AI during the third quarter valued at approximately $155,000. Finally, Osaic Holdings Inc. purchased a new position in Pony AI in the 2nd quarter worth approximately $140,000.

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.