Wall Street Zen Downgrades Pony AI (NASDAQ:PONY) to Sell

Pony AI (NASDAQ:PONY) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Several other research firms have also recently weighed in on PONY. Weiss Ratings reissued a “sell (d-)” rating on shares of Pony AI in a report on Wednesday, October 8th. Barclays began coverage on Pony AI in a research report on Tuesday, December 16th. They issued an “equal weight” rating and a $15.00 target price on the stock. Macquarie assumed coverage on Pony AI in a report on Monday, December 15th. They set an “outperform” rating and a $29.00 price target for the company. Jefferies Financial Group initiated coverage on Pony AI in a research note on Friday, October 10th. They issued a “buy” rating for the company. Finally, Citigroup decreased their price objective on Pony AI from $29.00 to $24.50 and set a “buy” rating on the stock in a report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $20.87.

Pony AI Price Performance

Shares of PONY opened at $15.94 on Friday. The company’s 50-day moving average is $15.78 and its 200-day moving average is $15.52. The firm has a market capitalization of $6.14 billion and a PE ratio of -11.30. Pony AI has a fifty-two week low of $4.11 and a fifty-two week high of $24.92.

Hedge Funds Weigh In On Pony AI

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise grew its holdings in shares of Pony AI by 71.2% during the 3rd quarter. Banque Cantonale Vaudoise now owns 3,662 shares of the company’s stock worth $82,000 after purchasing an additional 1,523 shares in the last quarter. Jones Financial Companies Lllp raised its stake in Pony AI by 704.8% in the third 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 in the last quarter. CWM LLC bought a new stake in Pony AI during the second quarter worth about $28,000. FNY Investment Advisers LLC acquired a new stake in Pony AI during the third quarter worth about $50,000. Finally, SBI Securities Co. Ltd. grew its stake in Pony AI by 29.7% during 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 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.