Pony AI (NASDAQ:PONY) Trading Down 6.8% – What’s Next?
by Mitch Edgeman · The Markets DailyPony AI Inc. – Sponsored ADR (NASDAQ:PONY – Get Free Report)’s stock price traded down 6.8% during mid-day trading on Thursday . The company traded as low as $9.70 and last traded at $9.6650. 1,482,506 shares were traded during mid-day trading, a decline of 67% from the average session volume of 4,462,411 shares. The stock had previously closed at $10.37.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on the stock. Wall Street Zen cut shares of Pony AI from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. Barclays decreased their price objective on shares of Pony AI from $15.00 to $10.00 and set an “equal weight” rating on the stock in a report on Monday, March 30th. Macquarie Infrastructure reissued an “outperform” rating and set a $24.00 price objective on shares of Pony AI in a report on Tuesday, May 26th. HSBC started coverage on shares of Pony AI in a report on Tuesday, March 31st. They set a “buy” rating and a $16.60 price objective on the stock. Finally, The Goldman Sachs Group set a $30.00 price objective on shares of Pony AI in a report on Thursday, April 16th. 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.95.
View Our Latest Stock Analysis on Pony AI
Pony AI Trading Down 7.8%
The stock has a market cap of $3.69 billion, a P/E ratio of -26.54 and a beta of 3.83. The business’s fifty day simple moving average is $9.78 and its 200 day simple moving average is $12.62.
Pony AI (NASDAQ:PONY – Get Free Report) last released its earnings results on Tuesday, May 26th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.03. Pony AI had a negative net margin of 128.22% and a negative return on equity of 17.13%. The company had revenue of $34.25 million for the quarter, compared to the consensus estimate of $22.30 million. On average, analysts predict that Pony AI Inc. – Sponsored ADR will post -0.67 earnings per share for the current fiscal year.
Institutional Trading of Pony AI
Institutional investors and hedge funds have recently made changes to their positions in the business. ARK Investment Management LLC bought a new stake in shares of Pony AI during the 3rd quarter valued at $28,623,000. Carrhae Capital LLP acquired a new stake in shares of Pony AI in the 3rd quarter valued at approximately $6,686,000. Ghisallo Capital Management LLC acquired a new stake in shares of Pony AI in the 3rd quarter valued at approximately $53,076,000. Flight Deck Capital LP raised its position in shares of Pony AI by 65.9% in the 3rd quarter. Flight Deck Capital LP now owns 672,600 shares of the company’s stock valued at $15,127,000 after acquiring an additional 267,200 shares during the period. Finally, Keystone Investors PTE Ltd. acquired a new stake in shares of Pony AI in the 3rd quarter valued at approximately $4,979,000.
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.