Pony AI (NASDAQ:PONY) Sets New 1-Year Low – What’s Next?

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) shares hit a new 52-week low on Thursday. The company traded as low as $4.42 and last traded at $4.46, with a volume of 459,776 shares changing hands. The stock had previously closed at $4.75.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PONY. Weiss Ratings reissued a “sell (e+)” rating on shares of Pony AI in a research report on Tuesday, September 8th. BNP Paribas Exane upgraded shares of Pony AI from a “neutral” rating to an “outperform” rating in a research note on Thursday, August 20th. Bank of America lowered their target price on Pony AI from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, August 18th. Morgan Stanley began coverage on Pony AI in a report on Tuesday. They set an “overweight” rating and a $10.00 target price on the stock. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Pony AI in a research report on Tuesday, August 18th. Eight 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.51.

Pony AI Trading Down 7.1%

The stock’s 50-day moving average is $6.15 and its 200-day moving average is $9.14. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of -12.29 and a beta of 4.04.

Insiders Place Their Bets

In other Pony AI news, VP Ning Zhang sold 15,524 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president owned 645,835 shares of the company’s stock, valued at approximately $4,585,428.50. This trade represents a 2.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Haojun Wang sold 13,751 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer owned 1,463,466 shares in the company, valued at approximately $10,390,608.60. This trade represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 41,700 shares of company stock worth $296,070.

Institutional Investors Weigh In On Pony AI

A number of large investors have recently added to or reduced their stakes in the company. Green Alpha Advisors LLC lifted its holdings in Pony AI by 6.9% in the third quarter. Green Alpha Advisors LLC now owns 44,330 shares of the company’s stock worth $290,000 after buying an additional 2,846 shares during the period. First Trust Advisors LP grew its holdings in shares of 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 acquiring an additional 3,236 shares during the period. Profund Advisors LLC raised its position in shares of Pony AI by 8.1% in the 3rd quarter. Profund Advisors LLC now owns 55,335 shares of the company’s stock worth $362,000 after acquiring an additional 4,147 shares in the last quarter. Nykredit A S bought a new position in shares of Pony AI in the 2nd quarter worth approximately $74,000. Finally, Money Concepts Capital Corp lifted its stake in shares of Pony AI by 13.4% in the 1st quarter. Money Concepts Capital Corp now owns 106,065 shares of the company’s stock valued at $1,001,000 after purchasing an additional 12,519 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.