Pony AI (NASDAQ:PONY) Shares Gap Up on Better-Than-Expected Earnings

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY)’s stock price gapped up before the market opened on Tuesday following a stronger than expected earnings report. The stock had previously closed at $8.92, but opened at $10.30. Pony AI shares last traded at $9.44, with a volume of 5,618,496 shares traded.

The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.03. The business had revenue of $34.25 million during the quarter, compared to the consensus estimate of $22.30 million. Pony AI had a negative net margin of 148.85% and a negative return on equity of 19.90%.

Analyst Ratings Changes

PONY has been the subject of a number of recent analyst reports. HSBC started coverage on Pony AI in a research note on Tuesday, March 31st. They issued a “buy” rating and a $16.60 price target for the company. Barclays decreased their price objective on shares of Pony AI from $15.00 to $10.00 and set an “equal weight” rating for the company in a report on Monday, March 30th. Zacks Research lowered shares of Pony AI from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 26th. The Goldman Sachs Group set a $30.00 price target on shares of Pony AI in a research report on Thursday, April 16th. Finally, Wall Street Zen lowered shares of Pony AI from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.58.

Institutional Investors Weigh In On Pony AI

Large investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Pony AI by 268.5% in the third 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 last quarter. ARK Investment Management LLC purchased a new stake in Pony AI during the 3rd quarter valued at $28,623,000. Money Concepts Capital Corp bought a new position in shares of Pony AI during the 3rd quarter valued at $2,062,000. Carrhae Capital LLP bought a new position in shares of Pony AI during the 3rd quarter valued at $6,686,000. Finally, Ghisallo Capital Management LLC purchased a new position in shares of Pony AI in the 3rd quarter worth $53,076,000.

Pony AI Price Performance

The company has a market capitalization of $3.57 billion, a P/E ratio of -25.75 and a beta of 4.10. The firm’s 50-day moving average is $9.91 and its 200-day moving average is $12.83.

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.