TMT General Partner Ltd Lowers Holdings in Pony AI Inc. – Sponsored ADR $PONY

TMT General Partner Ltd cut its stake in Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) by 42.1% in the third quarter, HoldingsChannel.com reports. The fund owned 3,153,748 shares of the company’s stock after selling 2,293,441 shares during the period. Pony AI accounts for 99.1% of TMT General Partner Ltd’s holdings, making the stock its biggest position. TMT General Partner Ltd’s holdings in Pony AI were worth $70,928,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PONY. Goldman Sachs Group Inc. bought a new position in shares of Pony AI in the 1st quarter worth approximately $139,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Pony AI during the second quarter valued at approximately $1,693,000. Eschler Asset Management LLP purchased a new stake in Pony AI in the second quarter worth about $4,245,000. Lingotto Investment Management LLP boosted its stake in shares of Pony AI by 55.6% during the second quarter. Lingotto Investment Management LLP now owns 2,379,892 shares of the company’s stock valued at $31,415,000 after purchasing an additional 850,000 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. purchased a new position in Pony AI during the second quarter valued at approximately $3,848,000.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Macquarie began coverage on Pony AI in a report on Monday, December 15th. They set an “outperform” rating and a $29.00 target price for the company. Citigroup reissued a “buy” rating on shares of Pony AI in a research report on Thursday, January 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Pony AI in a research report on Wednesday, October 8th. Jefferies Financial Group assumed coverage on shares of Pony AI in a report on Friday, October 10th. They issued a “buy” rating for the company. Finally, Barclays assumed coverage on shares of Pony AI in a report on Tuesday, December 16th. They issued an “equal weight” rating and a $15.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.10.

Pony AI Stock Performance

Shares of NASDAQ PONY opened at $15.29 on Wednesday. Pony AI Inc. – Sponsored ADR has a fifty-two week low of $4.11 and a fifty-two week high of $24.92. The company has a market cap of $5.89 billion, a PE ratio of -10.84 and a beta of 6.42. The business has a 50-day simple moving average of $14.66 and a two-hundred day simple moving average of $15.99.

Pony AI Profile

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.