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

HSBC started coverage on shares of Pony AI (NASDAQ:PONY) in a report issued on Tuesday. The firm set a “buy” rating and a $16.60 price target on the stock. HSBC’s target price would suggest a potential upside of 85.58% from the stock’s previous close.

PONY has been the subject of several other reports. Macquarie Infrastructure initiated coverage on Pony AI in a research note on Monday, December 15th. They set an “outperform” rating and a $29.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Pony AI in a research note on Thursday, January 22nd. Zacks Research downgraded shares of Pony AI from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 26th. Barclays decreased their price objective on shares of Pony AI from $15.00 to $10.00 and set an “equal weight” rating for the company in a research report on Monday. Finally, Wall Street Zen cut Pony AI from a “hold” rating to a “sell” rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.23.

Pony AI Stock Performance

Shares of NASDAQ:PONY traded up $0.41 during trading on Tuesday, hitting $8.95. The company’s stock had a trading volume of 2,128,722 shares, compared to its average volume of 4,470,057. Pony AI has a fifty-two week low of $4.11 and a fifty-two week high of $24.92. The business has a 50 day moving average price of $13.25 and a two-hundred day moving average price of $15.67. The company has a market capitalization of $3.45 billion, a PE ratio of -24.70 and a beta of 6.24.

Hedge Funds Weigh In On Pony AI

Several hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in shares of Pony AI by 103.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,110 shares of the company’s stock valued at $47,000 after purchasing an additional 62,748 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in Pony AI by 704.8% in the third quarter. Jones Financial Companies Lllp now owns 2,197 shares of the company’s stock valued at $47,000 after buying an additional 1,924 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Pony AI in the third quarter valued at approximately $50,000. Leonteq Securities AG purchased a new position in shares of Pony AI during the fourth quarter worth approximately $38,000. Finally, Banque Cantonale Vaudoise increased its holdings in shares of Pony AI by 71.2% in the 3rd quarter. Banque Cantonale Vaudoise now owns 3,662 shares of the company’s stock valued at $82,000 after acquiring an additional 1,523 shares during the period.

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.