Pony AI (NASDAQ:PONY) Shares Gap Down – Here’s Why

Shares of Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) gapped down before the market opened on Monday . The stock had previously closed at $7.58, but opened at $7.21. Pony AI shares last traded at $7.1050, with a volume of 929,096 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PONY shares. Weiss Ratings downgraded shares of Pony AI from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Zacks Research raised shares of Pony AI from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Bank of America cut their target price on shares of Pony AI from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, August 18th. Jefferies Financial Group restated a “buy” rating on shares of Pony AI in a research note on Tuesday, August 18th. Finally, BNP Paribas Exane raised Pony AI from a “neutral” rating to an “outperform” rating in a report on Thursday, August 20th. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.57.

Pony AI Price Performance

The company has a market cap of $3.05 billion, a price-to-earnings ratio of -19.50 and a beta of 3.88. The firm’s fifty day moving average price is $7.40 and its 200-day moving average price is $9.41.

Insider Activity at Pony AI

In other Pony AI news, CFO Haojun Wang sold 13,751 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $6.86, for a total value of $94,331.86. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Luyi Mo sold 14,460 shares of Pony AI stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $6.86, for a total value of $99,195.60. Following the sale, the vice president directly owned 350,156 shares in the company, valued at approximately $2,402,070.16. This trade represents a 3.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 45,558 shares of company stock worth $312,528 in the last ninety days.

Hedge Funds Weigh In On Pony AI

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PONY. Banque Cantonale Vaudoise grew its stake in shares of Pony AI by 71.2% in the third quarter. Banque Cantonale Vaudoise now owns 3,662 shares of the company’s stock worth $82,000 after purchasing an additional 1,523 shares in the last quarter. Baader Bank Aktiengesellschaft increased its holdings in shares of Pony AI by 0.7% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 229,732 shares of the company’s stock valued at $3,330,000 after purchasing an additional 1,539 shares during the period. Money Concepts Capital Corp raised its stake in shares of Pony AI by 2.1% during the fourth quarter. Money Concepts Capital Corp now owns 93,546 shares of the company’s stock valued at $1,356,000 after purchasing an additional 1,881 shares in the last quarter. LPL Financial LLC raised its stake in shares of Pony AI by 14.4% during the fourth quarter. LPL Financial LLC now owns 18,674 shares of the company’s stock valued at $271,000 after purchasing an additional 2,353 shares in the last quarter. Finally, Leonteq Securities AG acquired a new stake in Pony AI in the fourth quarter worth about $38,000.

About Pony AI

Pony AI Inc develops and commercializes autonomous driving technologies for passenger mobility, freight transportation and other applications. Its proprietary Virtual Driver platform integrates software, hardware and services, while its PonyWorld world model supports the development and deployment of its autonomous driving systems. The company operates three primary business lines: Robotaxi services, Robotruck services and Intelligent Solutions, which include autonomous driving domain controllers and other technology products and services for automakers and industry customers.

Founded in late 2016 in Fremont, California, by Jun “James” Peng and Tiancheng Lou, Pony.ai is headquartered in Guangzhou, China.