Pony AI (NASDAQ:PONY) Sets New 1-Year Low – Here’s Why

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) shares reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as $6.33 and last traded at $6.2660, with a volume of 461870 shares changing hands. The stock had previously closed at $6.54.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PONY. Weiss Ratings reiterated a “sell (e+)” rating on shares of Pony AI in a research report on Tuesday, September 8th. Bank of America reduced their target price on shares of Pony AI from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, August 18th. Jefferies Financial Group restated a “buy” rating on shares of Pony AI in a research note on Tuesday, August 18th. Finally, BNP Paribas Exane raised shares of Pony AI from a “neutral” rating to an “outperform” rating in a research report on Thursday, August 20th. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Pony AI has an average rating of “Moderate Buy” and an average price target of $19.57.

Pony AI Stock Down 6.0%

The firm has a market capitalization of $2.67 billion, a P/E ratio of -17.04 and a beta of 3.87. The firm has a 50 day moving average of $7.41 and a 200-day moving average of $8.44.

Insider Buying and Selling at Pony AI

In other Pony AI news, CFO Haojun Wang sold 13,751 shares of Pony AI stock in a transaction on Monday, September 28th. The stock was sold at an average price of $7.10, for a total value of $97,632.10. Following the completion of the transaction, the chief financial officer directly owned 1,463,466 shares of the company’s stock, valued at $10,390,608.60. The trade was a 0.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Luyi Mo sold 12,425 shares of the company’s stock in a transaction on Monday, September 28th. The shares were sold at an average price of $7.10, for a total value of $88,217.50. Following the sale, the vice president owned 362,737 shares of the company’s stock, valued at approximately $2,575,432.70. The trade was a 3.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 41,700 shares of company stock valued at $296,070 in the last three months.

Institutional Investors Weigh In On Pony AI

Several institutional investors and hedge funds have recently bought and sold shares of the company. TMT General Partner Ltd grew its stake in Pony AI by 262.1% during the first quarter. TMT General Partner Ltd now owns 6,942,135 shares of the company’s stock worth $65,534,000 after buying an additional 5,024,721 shares in the last quarter. Amova Asset Management Americas Inc. raised its position in shares of Pony AI by 266.2% in the 4th quarter. Amova Asset Management Americas Inc. now owns 1,974,499 shares of the company’s stock valued at $28,630,000 after buying an additional 1,435,358 shares in the last quarter. Hel Ved Capital Management Ltd raised its position in shares of Pony AI by 47.5% in the 4th quarter. Hel Ved Capital Management Ltd now owns 778,879 shares of the company’s stock valued at $11,294,000 after buying an additional 250,900 shares in the last quarter. Keystone Investors PTE Ltd. lifted its holdings in shares of Pony AI by 202.0% during the 4th quarter. Keystone Investors PTE Ltd. now owns 668,658 shares of the company’s stock worth $9,696,000 after acquiring an additional 447,250 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of Pony AI by 5.1% during the 1st quarter. SG Americas Securities LLC now owns 571,575 shares of the company’s stock worth $5,396,000 after acquiring an additional 27,750 shares during the period.

Pony AI Company Profile

Pony AI Inc develops and commercializes autonomous driving technologies for passenger mobility, freight transportation and other applications. Its proprietary Virtual Driver platform integrates software, hardware and services, while its PonyWorld world model supports the development and deployment of its autonomous driving systems. The company operates three primary business lines: Robotaxi services, Robotruck services and Intelligent Solutions, which include autonomous driving domain controllers and other technology products and services for automakers and industry customers.

Founded in late 2016 in Fremont, California, by Jun “James” Peng and Tiancheng Lou, Pony.ai is headquartered in Guangzhou, China.