Pony AI (NASDAQ:PONY) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Pony AI (NASDAQ:PONY) from a strong sell rating to a hold rating in a report published on Monday,Zacks.com reports.

Other equities research analysts have also issued reports about the company. The Goldman Sachs Group set a $30.00 price target on Pony AI in a research report on Thursday, April 16th. HSBC started coverage on Pony AI in a research report on Tuesday, March 31st. They set a “buy” rating and a $16.60 price target on the stock. BNP Paribas Exane started coverage on Pony AI in a research report on Thursday, March 26th. They set a “neutral” rating and a $12.50 price target on the stock. Wall Street Zen lowered Pony AI from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. Finally, Macquarie Infrastructure restated an “outperform” rating and set a $24.00 price target on shares of Pony AI in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.95.

Pony AI Price Performance

NASDAQ PONY opened at $9.34 on Monday. The firm has a market cap of $3.60 billion, a PE ratio of -25.94 and a beta of 4.10. Pony AI has a one year low of $7.99 and a one year high of $24.92. The stock’s 50 day simple moving average is $9.87 and its 200 day simple moving average is $12.78.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Quantinno Capital Management LP bought a new position in Pony AI in the 1st quarter valued at $1,042,000. First Trust Advisors LP boosted its position in Pony AI by 32.3% in the 1st quarter. First Trust Advisors LP now owns 13,264 shares of the company’s stock valued at $125,000 after buying an additional 3,236 shares during the last quarter. TMT General Partner Ltd boosted its position in Pony AI by 262.1% in the 1st quarter. TMT General Partner Ltd now owns 6,942,135 shares of the company’s stock valued at $65,534,000 after buying an additional 5,024,721 shares during the last quarter. Hsbc Holdings PLC bought a new position in Pony AI in the 1st quarter valued at $553,000. Finally, Money Concepts Capital Corp boosted its position in Pony AI by 13.4% in the 1st quarter. Money Concepts Capital Corp now owns 106,065 shares of the company’s stock valued at $1,001,000 after buying an additional 12,519 shares during 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.