Pony AI (NASDAQ:PONY) Earns Buy Rating from Analysts at HSBC

HSBC began coverage on shares of Pony AI (NASDAQ:PONY) in a research note published on Tuesday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $16.60 price objective on the stock.

Other equities research analysts also recently issued reports about the stock. CLSA began coverage on shares of Pony AI in a research note on Friday, January 2nd. They set an “outperform” rating and a $22.00 price objective for the company. BNP Paribas Exane initiated coverage on shares of Pony AI in a research note on Thursday, March 26th. They issued a “neutral” rating and a $12.50 target price on the stock. Wall Street Zen cut shares of Pony AI from a “hold” rating to a “sell” rating in a research report on Monday. Zacks Research downgraded Pony AI from a “hold” rating to a “strong sell” rating in a report on Thursday, March 26th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Pony AI in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Pony AI presently has an average rating of “Moderate Buy” and an average target price of $19.23.

Pony AI Stock Performance

Shares of NASDAQ:PONY opened at $9.22 on Tuesday. The stock has a 50-day simple moving average of $12.85 and a 200-day simple moving average of $15.54. The stock has a market capitalization of $3.55 billion, a P/E ratio of -25.61 and a beta of 6.34. Pony AI has a 1 year low of $4.11 and a 1 year high of $24.92.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PONY. Goldman Sachs Group Inc. acquired a new stake in Pony AI during the 1st quarter valued at $139,000. Legal & General Group Plc purchased a new position in Pony AI in the 2nd quarter valued at about $1,595,000. Schroder Investment Management Group purchased a new position in Pony AI in the 2nd quarter valued at about $1,941,000. Invesco Ltd. acquired a new stake in shares of Pony AI during the second quarter valued at about $206,000. Finally, First Trust Advisors LP acquired a new stake in shares of Pony AI during the second quarter valued at about $276,000.

Pony AI Company Profile

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.