Pony AI (NASDAQ:PONY) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Pony AI (NASDAQ:PONY) from a hold rating to a sell rating in a research note published on Monday morning.

A number of other research analysts have also weighed in on PONY. CLSA initiated coverage on Pony AI in a research note on Friday, January 2nd. They set an “outperform” rating and a $22.00 price target on the stock. Zacks Research downgraded Pony AI from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 26th. Citigroup reiterated a “buy” rating on shares of Pony AI in a research note on Thursday, January 15th. Barclays started coverage on Pony AI in a research report on Tuesday, December 16th. They set an “equal weight” rating and a $15.00 target price on the stock. Finally, BNP Paribas Exane started coverage on Pony AI in a report on Thursday, March 26th. They issued a “neutral” rating and a $12.50 price target for the company. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $19.23.

Pony AI Stock Performance

Shares of PONY opened at $9.21 on Monday. Pony AI has a 1 year low of $4.11 and a 1 year high of $24.92. The company’s 50 day simple moving average is $13.00 and its 200 day simple moving average is $15.58. The company has a market capitalization of $3.55 billion, a price-to-earnings ratio of -25.58 and a beta of 6.32.

Institutional Investors Weigh In On Pony AI

Institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Pony AI by 268.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 836,728 shares of the company’s stock worth $18,818,000 after purchasing an additional 609,666 shares during the period. ARK Investment Management LLC purchased a new stake in shares of Pony AI during the 3rd quarter worth about $28,623,000. Money Concepts Capital Corp purchased a new stake in shares of Pony AI during the 3rd quarter worth about $2,062,000. Carrhae Capital LLP acquired a new stake in Pony AI during the 3rd quarter worth approximately $6,686,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Pony AI in the third quarter valued at approximately $9,509,000.

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.