Brokerages Set Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) PT at $22.10

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) has been given a consensus rating of “Moderate Buy” by the eight ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $22.10.

PONY has been the topic of several recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Pony AI in a research report on Thursday, January 22nd. CLSA started coverage on shares of Pony AI in a report on Friday, January 2nd. They set an “outperform” rating and a $22.00 target price for the company. Macquarie Infrastructure began coverage on shares of Pony AI in a report on Monday, December 15th. They issued an “outperform” rating and a $29.00 price target on the stock. Wall Street Zen upgraded shares of Pony AI from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, Citigroup reissued a “buy” rating on shares of Pony AI in a research note on Thursday, January 15th.

Hedge Funds Weigh In On Pony AI

Several hedge funds have recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Pony AI in the second quarter valued at approximately $1,693,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Pony AI by 268.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 836,728 shares of the company’s stock worth $18,818,000 after acquiring an additional 609,666 shares during the last quarter. Money Concepts Capital Corp purchased a new stake in Pony AI in the 3rd quarter worth approximately $2,062,000. ARK Investment Management LLC purchased a new stake in Pony AI in the 3rd quarter worth approximately $28,623,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Pony AI in the 3rd quarter valued at $9,509,000.

Pony AI Stock Performance

Pony AI stock opened at $11.44 on Wednesday. Pony AI has a fifty-two week low of $4.11 and a fifty-two week high of $24.92. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of -8.11 and a beta of 6.26. The stock’s fifty day moving average is $14.59 and its two-hundred day moving average is $15.95.

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.