Pony AI Inc. – Sponsored ADR (NASDAQ:PONY – Get Free Report)’s share price hit a new 52-week low during trading on Friday. The stock traded as low as $4.78 and last traded at $4.7710, with a volume of 42,981 shares trading hands. The stock had previously closed at $4.92.
Analysts Set New Price Targets
PONY has been the topic of a number of recent research reports. BNP Paribas Exane raised Pony AI from a “neutral” rating to an “outperform” rating in a report on Thursday, August 20th. Bank of America decreased their price objective on shares of Pony AI from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, August 18th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Pony AI in a research report on Tuesday, September 8th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Pony AI in a research note on Tuesday, August 18th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Pony AI has an average rating of “Moderate Buy” and an average price target of $19.57.
Read Our Latest Research Report on PONY
Pony AI Stock Performance
The company has a market cap of $2.08 billion, a P/E ratio of -13.23 and a beta of 3.89. The stock has a 50 day moving average price of $6.40 and a 200 day moving average price of $9.37.
Insider Buying and Selling at Pony AI
In related news, VP Luyi Mo sold 12,425 shares of the business’s stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $7.10, for a total value of $88,217.50. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Haojun Wang sold 13,751 shares of Pony AI stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $7.10, for a total transaction of $97,632.10. Following the completion of the sale, the chief financial officer owned 1,463,466 shares of the company’s stock, valued at $10,390,608.60. This trade represents a 0.93% 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 quarter.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. Pictet Asset Management Holding SA acquired a new position in Pony AI during the 1st quarter worth $3,144,000. TMT General Partner Ltd lifted its position in shares of Pony AI by 262.1% during the 1st 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 during the period. Headlands Technologies LLC bought a new stake in shares of Pony AI in the 2nd quarter worth about $1,634,000. Robeco Schweiz AG acquired a new stake in Pony AI during the 3rd quarter valued at $9,888,000. Finally, PensionDanmark Pensionsforsikringsaktieselskab lifted its position in shares of Pony AI by 93.3% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 145,000 shares of the company’s stock worth $1,008,000 after purchasing an additional 70,000 shares in the last quarter.
About Pony AI
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.
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