Pony AI (NASDAQ:PONY) Stock Rated “Overweight” in New Coverage at Morgan Stanley

Morgan Stanley assumed coverage on shares of Pony AI (NASDAQ:PONY) in a report issued on Tuesday, Briefing.com reports. The firm set an “overweight” rating and a $10.00 price target on the stock. Morgan Stanley‘s price objective would indicate a potential upside of 116.45% from the stock’s previous close.

A number of other research firms also recently issued reports on PONY. Weiss Ratings reissued a “sell (e+)” rating on shares of Pony AI in a research note on Tuesday, September 8th. BNP Paribas Exane upgraded shares of Pony AI from a “neutral” rating to an “outperform” rating in a report on Thursday, August 20th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Pony AI in a research report on Tuesday, August 18th. Finally, Bank of America dropped 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. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Pony AI currently has an average rating of “Moderate Buy” and a consensus target price of $18.51.

Pony AI Price Performance

Shares of PONY stock opened at $4.62 on Tuesday. The firm has a market cap of $2.01 billion, a PE ratio of -12.83 and a beta of 3.89. The company has a 50-day moving average of $6.27 and a two-hundred day moving average of $9.25. Pony AI has a 1-year low of $4.54 and a 1-year high of $18.80.

Insider Buying and Selling

In related news, VP Luyi Mo sold 12,425 shares of the stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $7.10, for a total transaction of $88,217.50. Following the transaction, the vice president owned 362,737 shares of the company’s stock, valued at approximately $2,575,432.70. This represents a 3.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Ning Zhang sold 15,524 shares of the firm’s stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $7.10, for a total value of $110,220.40. Following the transaction, the vice president owned 645,835 shares of the company’s stock, valued at $4,585,428.50. This trade represents a 2.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 41,700 shares of company stock valued at $296,070.

Institutional Trading of Pony AI

Several hedge funds have recently made changes to their positions in the business. Nykredit A S acquired a new position in shares of Pony AI in the second quarter valued at approximately $74,000. Greenleaf Trust purchased a new stake in Pony AI during the 2nd quarter worth approximately $88,000. Corient Private Wealth LP acquired a new stake in Pony AI during the 2nd quarter worth approximately $89,000. First Trust Advisors LP lifted its holdings in Pony AI by 32.3% during the 1st quarter. First Trust Advisors LP now owns 13,264 shares of the company’s stock worth $125,000 after buying an additional 3,236 shares in the last quarter. Finally, AXQ Capital LP acquired a new stake in Pony AI during the 2nd quarter worth approximately $134,000.

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.