Pony AI (NASDAQ:PONY) Reaches New 52-Week Low – Here’s What Happened

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $6.63 and last traded at $6.6660, with a volume of 1070321 shares changing hands. The stock had previously closed at $7.00.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PONY shares. The Goldman Sachs Group set a $30.00 price objective on shares of Pony AI in a research report on Thursday, April 16th. Zacks Research upgraded shares of Pony AI from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Macquarie Infrastructure reaffirmed an “outperform” rating and set a $24.00 target price on shares of Pony AI in a research note on Tuesday, May 26th. HSBC assumed coverage on shares of Pony AI in a report on Tuesday, March 31st. They issued a “buy” rating and a $16.60 price target on the stock. Finally, Wall Street Zen downgraded shares of Pony AI from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.95.

Pony AI Stock Performance

The firm has a fifty day simple moving average of $8.74 and a two-hundred day simple moving average of $11.70. The firm has a market cap of $2.59 billion, a PE ratio of -18.65 and a beta of 4.04.

Pony AI (NASDAQ:PONY) last issued its quarterly earnings data on Tuesday, May 26th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.03. The business had revenue of $34.25 million for the quarter, compared to analysts’ expectations of $22.30 million. Pony AI had a negative return on equity of 17.13% and a negative net margin of 128.22%. Equities analysts forecast that Pony AI Inc. – Sponsored ADR will post -0.67 EPS for the current fiscal year.

Insider Activity at Pony AI

In other Pony AI news, VP Ning Zhang sold 17,347 shares of Pony AI stock in a transaction on Friday, June 26th. The shares were sold at an average price of $6.86, for a total value of $119,000.42. Following the completion of the transaction, the vice president directly owned 630,109 shares of the company’s stock, valued at $4,322,547.74. This trade represents a 2.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Luyi Mo sold 14,460 shares of the business’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $6.86, for a total transaction of $99,195.60. Following the completion of the sale, the vice president owned 350,156 shares in the company, valued at approximately $2,402,070.16. This trade represents a 3.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 45,558 shares of company stock valued at $312,528 over the last 90 days.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PONY. Goldman Sachs Group Inc. bought a new stake in Pony AI during the first quarter worth approximately $139,000. Invesco Ltd. bought a new stake in shares of Pony AI in the 2nd quarter valued at approximately $206,000. First Trust Advisors LP bought a new stake in shares of Pony AI in the 2nd quarter valued at approximately $276,000. Marshall Wace LLP boosted its holdings in shares of Pony AI by 4.7% in the 2nd quarter. Marshall Wace LLP now owns 265,503 shares of the company’s stock worth $3,505,000 after purchasing an additional 11,986 shares during the period. Finally, Daiwa Securities Group Inc. purchased a new position in shares of Pony AI in the 2nd quarter worth approximately $64,000.

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.