Pony AI (NASDAQ:PONY) Trading Up 5.7% – Here’s What Happened

by · The Markets Daily

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY – Get Free Report) traded up 5.7% during mid-day trading on Wednesday . The company traded as high as $6.95 and last traded at $6.9550. 672,838 shares traded hands during trading, a decline of 85% from the average session volume of 4,426,389 shares. The stock had previously closed at $6.58.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PONY. Barclays dropped their price objective on Pony AI from $15.00 to $10.00 and set an “equal weight” rating on the stock in a report on Monday, March 30th. BNP Paribas Exane started coverage on Pony AI in a report on Thursday, March 26th. They issued a “neutral” rating and a $12.50 price target for the company. Wall Street Zen lowered shares of Pony AI from a “hold” rating to a “sell” rating in a research note on Sunday, April 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 research report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Pony AI currently has an average rating of “Moderate Buy” and a consensus price target of $19.95.

Check Out Our Latest Stock Analysis on PONY

Pony AI Stock Up 2.5%

The firm has a fifty day simple moving average of $8.65 and a 200-day simple moving average of $11.65. The company has a market cap of $2.60 billion, a PE ratio of -18.69 and a beta of 4.04.

Pony AI (NASDAQ:PONY – Get Free Report) last announced 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. The firm had revenue of $34.25 million during 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 research analysts forecast that Pony AI Inc. – Sponsored ADR will post -0.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Pony AI

In other news, VP Ning Zhang sold 17,347 shares of the stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $6.86, for a total value of $119,000.42. Following the completion of the sale, the vice president directly owned 630,109 shares of the company’s stock, valued at approximately $4,322,547.74. This represents a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Haojun Wang sold 13,751 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $6.86, for a total transaction of $94,331.86. Following the transaction, the chief financial officer owned 1,442,504 shares in the company, valued at approximately $9,895,577.44. This trade represents a 0.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 45,558 shares of company stock worth $312,528.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Trust Inc. purchased a new stake in shares of Pony AI in the first quarter valued at about $30,000. Leonteq Securities AG purchased a new position in shares of Pony AI during the fourth quarter worth about $38,000. JPMorgan Chase & Co. increased its position in Pony AI by 103.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,110 shares of the company’s stock valued at $47,000 after acquiring an additional 62,748 shares during the period. FNY Investment Advisers LLC acquired a new position in Pony AI in the 3rd quarter valued at about $50,000. Finally, Daiwa Securities Group Inc. purchased a new stake in Pony AI during the 2nd quarter valued at approximately $64,000.

Pony AI Company Profile

(Get Free Report)

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.

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