Pony AI (NASDAQ:PONY) Shares Gap Down – What’s Next?

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) shares gapped down before the market opened on Monday . The stock had previously closed at $7.58, but opened at $7.21. Pony AI shares last traded at $7.1050, with a volume of 929,096 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PONY. Zacks Research upgraded Pony AI from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. BNP Paribas Exane upgraded shares of Pony AI from a “neutral” rating to an “outperform” rating in a research note on Thursday, August 20th. Macquarie Infrastructure reiterated an “outperform” rating and set a $24.00 target price on shares of Pony AI in a report on Tuesday, May 26th. Bank of America cut their price target on Pony AI from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, August 18th. Finally, Weiss Ratings cut Pony AI from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Pony AI presently has a consensus rating of “Moderate Buy” and an average price target of $19.57.

Pony AI Stock Down 6.2%

The firm has a market capitalization of $3.09 billion, a PE ratio of -19.75 and a beta of 3.95. The firm’s fifty day simple moving average is $7.42 and its 200-day simple moving average is $9.52.

Insider Buying and Selling

In other Pony AI news, CFO Haojun Wang sold 13,751 shares of the stock in a transaction on Friday, June 26th. The stock was sold at an average price of $6.86, for a total transaction of $94,331.86. Following the sale, the chief financial officer directly owned 1,442,504 shares in the company, valued at approximately $9,895,577.44. This trade represents a 0.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Ning Zhang sold 17,347 shares of Pony AI stock in a transaction on Friday, June 26th. The stock was sold at an average price of $6.86, for a total value of $119,000.42. Following the completion of the sale, the vice president directly owned 630,109 shares of the company’s stock, valued at approximately $4,322,547.74. The trade was a 2.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 45,558 shares of company stock worth $312,528 in the last three months.

Institutional Trading of Pony AI

A number of institutional investors have recently made changes to their positions in PONY. TMT General Partner Ltd lifted its holdings in shares of Pony AI by 262.1% during the 1st quarter. TMT General Partner Ltd now owns 6,942,135 shares of the company’s stock valued at $65,534,000 after buying an additional 5,024,721 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Pony AI in the 3rd quarter worth approximately $89,174,000. Tiger Global Management LLC boosted its holdings in shares of Pony AI by 683.8% in the fourth quarter. Tiger Global Management LLC now owns 2,900,000 shares of the company’s stock worth $42,050,000 after buying an additional 2,530,000 shares during the last quarter. FIL Ltd boosted its holdings in shares of Pony AI by 466.9% in the fourth quarter. FIL Ltd now owns 2,284,012 shares of the company’s stock worth $33,118,000 after buying an additional 1,881,128 shares during the last quarter. Finally, Marshall Wace LLP grew its position in Pony AI by 239.6% during the fourth quarter. Marshall Wace LLP now owns 2,502,711 shares of the company’s stock valued at $36,289,000 after buying an additional 1,765,718 shares during the period.

Pony AI Company Profile

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.