Wall Street Zen Downgrades Pony AI (NASDAQ:PONY) to Sell

Pony AI (NASDAQ:PONY) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

A number of other analysts also recently issued reports on PONY. Citigroup reaffirmed a “buy” rating on shares of Pony AI in a report on Thursday, January 15th. CLSA assumed coverage on Pony AI in a research report on Friday, January 2nd. They set an “outperform” rating and a $22.00 target price on the stock. Macquarie Infrastructure began coverage on Pony AI in a research report on Monday, December 15th. They set an “outperform” rating and a $29.00 target price on the stock. Barclays assumed coverage on Pony AI in a research note on Tuesday, December 16th. They set an “equal weight” rating and a $15.00 target price for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Pony AI in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $22.10.

Pony AI Trading Down 6.9%

Shares of PONY stock opened at $11.44 on Friday. The company has a market cap of $4.41 billion, a P/E ratio of -8.11 and a beta of 6.24. The firm has a fifty day moving average price of $14.59 and a 200 day moving average price of $15.97. Pony AI has a 12 month low of $4.11 and a 12 month high of $24.92.

Institutional Trading of Pony AI

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. HSG Holding Ltd purchased a new stake in shares of Pony AI in the 2nd quarter valued at about $78,184,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Pony AI during the 3rd quarter worth approximately $89,174,000. Aspex Management HK Ltd increased its position in Pony AI by 728.1% during the third quarter. Aspex Management HK Ltd now owns 4,140,447 shares of the company’s stock worth $93,119,000 after buying an additional 3,640,447 shares during the period. Tiger Global Management LLC lifted its stake in Pony AI by 683.8% in the fourth quarter. Tiger Global Management LLC now owns 2,900,000 shares of the company’s stock valued at $42,050,000 after buying an additional 2,530,000 shares during the last quarter. Finally, Ghisallo Capital Management LLC purchased a new stake in Pony AI in the third quarter valued at approximately $53,076,000.

Pony AI Company 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.