Pony AI (NASDAQ:PONY) Stock Falls 5% Following Insider Selling

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY)’s stock price traded down 5% during mid-day trading on Tuesday following insider selling activity. The company traded as low as $6.60 and last traded at $6.5950. 2,354,634 shares traded hands during trading, a decline of 44% from the average daily volume of 4,202,894 shares. The stock had previously closed at $6.94.

Specifically, VP Luyi Mo sold 12,425 shares of the business’s stock in a transaction on Monday, September 28th. The shares were sold at an average price of $7.10, for a total transaction 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. The trade was a 3.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Ning Zhang sold 15,524 shares of the stock in a transaction on Monday, September 28th. The stock was sold at an average price of $7.10, for a total value of $110,220.40. Following the completion of the transaction, the vice president directly owned 645,835 shares in the company, 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 other Pony AI news, CFO Haojun Wang sold 13,751 shares of the company’s stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $7.10, for a total transaction of $97,632.10. Following the completion of the sale, the chief financial officer directly owned 1,463,466 shares in the company, valued at $10,390,608.60. This represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Analyst Ratings Changes

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

Pony AI Price Performance

The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of -18.17 and a beta of 3.87. The firm’s fifty day moving average is $7.41 and its 200-day moving average is $8.44.

Institutional Trading of Pony AI

Several institutional investors and hedge funds have recently bought and sold shares of PONY. TMT General Partner Ltd increased its holdings in shares of 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 acquiring an additional 5,024,721 shares during the last quarter. Amova Asset Management Americas Inc. boosted its holdings in shares of Pony AI by 266.2% in the 4th quarter. Amova Asset Management Americas Inc. now owns 1,974,499 shares of the company’s stock valued at $28,630,000 after buying an additional 1,435,358 shares during the period. Hel Ved Capital Management Ltd raised its stake in Pony AI by 47.5% during the fourth quarter. Hel Ved Capital Management Ltd now owns 778,879 shares of the company’s stock worth $11,294,000 after acquiring an additional 250,900 shares during the period. Keystone Investors PTE Ltd. boosted its stake in Pony AI by 202.0% in the fourth quarter. Keystone Investors PTE Ltd. now owns 668,658 shares of the company’s stock valued at $9,696,000 after acquiring an additional 447,250 shares during the period. Finally, Clear Street Group Inc. raised its position in shares of Pony AI by 19.3% during the 4th quarter. Clear Street Group Inc. now owns 381,068 shares of the company’s stock worth $5,525,000 after purchasing an additional 61,670 shares during the period.

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.