Pony AI (NASDAQ:PONY) Shares Up 7.9% – Time to Buy?

Shares of Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) were up 7.9% on Tuesday. The stock traded as high as $5.36 and last traded at $5.4050. 1,062,916 shares changed hands during trading, a decline of 75% from the average session volume of 4,214,279 shares. The stock had previously closed at $5.01.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Jefferies Financial Group reissued a “buy” rating on shares of Pony AI in a report on Tuesday, August 18th. Bank of America reduced their target price on shares of Pony AI from $19.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, August 18th. BNP Paribas Exane raised Pony AI from a “neutral” rating to an “outperform” rating in a report on Thursday, August 20th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Pony AI in a report on Tuesday, September 8th. Seven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Pony AI currently has a consensus rating of “Moderate Buy” and an average price target of $19.57.

Pony AI Stock Up 8.6%

The firm has a market cap of $2.37 billion, a PE ratio of -15.13 and a beta of 3.89. The company’s fifty day moving average price is $6.87 and its two-hundred day moving average price is $7.99.

Insider Buying and Selling at Pony AI

In related news, CFO Haojun Wang sold 13,751 shares of the firm’s stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $7.10, for a total value of $97,632.10. Following the completion of the transaction, the chief financial officer owned 1,463,466 shares of the company’s stock, valued at approximately $10,390,608.60. This trade represents a 0.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Luyi Mo sold 12,425 shares of the business’s stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $7.10, for a total value of $88,217.50. Following the completion of the sale, the vice president directly owned 362,737 shares of the company’s stock, valued at $2,575,432.70. This represents a 3.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 41,700 shares of company stock worth $296,070 in the last 90 days.

Hedge Funds Weigh In On Pony AI

Institutional investors have recently added to or reduced their stakes in the company. TMT General Partner Ltd boosted its stake in Pony AI by 262.1% in the 1st quarter. TMT General Partner Ltd now owns 6,942,135 shares of the company’s stock valued at $65,534,000 after purchasing an additional 5,024,721 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Pony AI by 5.1% during the 1st quarter. SG Americas Securities LLC now owns 571,575 shares of the company’s stock valued at $5,396,000 after acquiring an additional 27,750 shares in the last quarter. Pictet Asset Management Holding SA acquired a new stake in shares of Pony AI in the first quarter valued at about $3,144,000. Headlands Technologies LLC acquired a new stake in shares of Pony AI in the 2nd quarter valued at about $1,634,000. Finally, PensionDanmark Pensionsforsikringsaktieselskab boosted its stake in Pony AI by 93.3% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 145,000 shares of the company’s stock valued at $1,008,000 after purchasing an additional 70,000 shares during the last quarter.

Pony AI Company Profile

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.