Pony AI (NASDAQ:PONY) Trading 7.4% Higher – Still a Buy?

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) shares rose 7.4% on Wednesday . The company traded as high as $16.93 and last traded at $16.88. Approximately 1,447,638 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 4,400,055 shares. The stock had previously closed at $15.72.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PONY shares. Wall Street Zen lowered Pony AI from a “hold” rating to a “sell” rating in a report on Saturday, December 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Pony AI in a report on Wednesday, October 8th. Barclays initiated coverage on shares of Pony AI in a research note on Tuesday, December 16th. They issued an “equal weight” rating and a $15.00 price objective on the stock. Jefferies Financial Group started coverage on shares of Pony AI in a report on Friday, October 10th. They issued a “buy” rating on the stock. Finally, Citigroup reduced their target price on shares of Pony AI from $29.00 to $24.50 and set a “buy” rating for the company in a report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.10.

Pony AI Stock Up 1.6%

The firm has a market capitalization of $6.15 billion, a PE ratio of -11.33 and a beta of 6.42. The firm’s 50-day moving average price is $14.54 and its two-hundred day moving average price is $15.89.

Institutional Trading of Pony AI

Hedge funds have recently modified their holdings of the business. HSG Holding Ltd acquired a new stake in shares of Pony AI in the second quarter worth $78,184,000. TMT General Partner Ltd acquired a new stake in Pony AI during the 2nd quarter worth about $71,903,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Pony AI during the 3rd quarter worth about $89,174,000. Aspex Management HK Ltd grew its stake in Pony AI by 728.1% during the 3rd quarter. Aspex Management HK Ltd now owns 4,140,447 shares of the company’s stock valued at $93,119,000 after acquiring an additional 3,640,447 shares in the last quarter. Finally, Ghisallo Capital Management LLC purchased a new stake in shares of Pony AI in the third quarter worth approximately $53,076,000.

About Pony AI

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.