Pony AI (NASDAQ:PONY) Shares Up 7.6% – What’s Next?

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY)’s stock price shot up 7.6% during trading on Tuesday . The company traded as high as $7.39 and last traded at $7.4050. Approximately 4,354,699 shares were traded during trading, an increase of 3% from the average daily volume of 4,216,818 shares. The stock had previously closed at $6.88.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Zacks Research raised shares of Pony AI from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Jefferies Financial Group reiterated a “buy” rating on shares of Pony AI in a report on Tuesday, August 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Pony AI in a research report on Tuesday, September 8th. Macquarie Infrastructure reiterated an “outperform” rating and set a $24.00 price target on shares of Pony AI in a research report on Tuesday, May 26th. Finally, BNP Paribas Exane raised shares of Pony AI from a “neutral” rating to an “outperform” rating in a research note on Thursday, August 20th. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Pony AI presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.57.

Pony AI Stock Up 7.3%

The company’s fifty day simple moving average is $7.40 and its two-hundred day simple moving average is $8.73. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of -20.51 and a beta of 3.87.

Insiders Place Their Bets

In other Pony AI news, VP Luyi Mo sold 14,460 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 transaction 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. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Haojun Wang sold 13,751 shares of the stock in a transaction 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 sale, the chief financial officer directly owned 1,442,504 shares of the company’s stock, valued at $9,895,577.44. This represents a 0.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 45,558 shares of company stock worth $312,528 over the last ninety days.

Institutional Trading of Pony AI

Several hedge funds and other institutional investors have recently modified their holdings of the company. Altar Rock LLC bought a new stake in Pony AI in the 2nd quarter valued at approximately $158,000. Nykredit A S bought a new stake in shares of Pony AI in the second quarter worth $74,000. Corient Private Wealth LP acquired a new position in Pony AI during the second quarter worth $89,000. AXQ Capital LP bought a new position in Pony AI in the second quarter valued at $134,000. Finally, Headlands Technologies LLC acquired a new stake in Pony AI in the 2nd quarter valued at $1,634,000.

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.