Pony AI (NASDAQ:PONY) Stock Price Up 8.6% – Should You Buy?

Shares of Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) shot up 8.6% during trading on Thursday . The company traded as high as $7.27 and last traded at $7.4140. 1,228,509 shares were traded during trading, a decline of 72% from the average session volume of 4,314,058 shares. The stock had previously closed at $6.83.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PONY shares. 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 report on Monday, March 30th. Zacks Research upgraded Pony AI from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Macquarie Infrastructure reiterated an “outperform” rating and set a $24.00 price target on shares of Pony AI in a research report on Tuesday, May 26th. Weiss Ratings downgraded Pony AI from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th. Finally, BNP Paribas Exane initiated coverage on Pony AI in a research note on Thursday, March 26th. They issued a “neutral” rating and a $12.50 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Pony AI currently has an average rating of “Moderate Buy” and a consensus target price of $19.95.

Pony AI Trading Up 7.0%

The company’s 50-day moving average price is $8.02 and its two-hundred day moving average price is $11.00. The company has a market cap of $2.81 billion, a P/E ratio of -20.24 and a beta of 4.04.

Pony AI (NASDAQ:PONY) last announced its quarterly earnings data on Tuesday, May 26th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.03. Pony AI had a negative return on equity of 17.13% and a negative net margin of 128.22%.The company had revenue of $34.25 million during the quarter, compared to the consensus estimate of $22.30 million. Equities analysts forecast that Pony AI Inc. – Sponsored ADR will post -0.67 earnings per share for the current year.

Insider Buying and Selling at Pony AI

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. TMT General Partner Ltd grew 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 acquiring an additional 5,024,721 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Pony AI during the third quarter valued at about $89,174,000. Tiger Global Management LLC increased its holdings in shares of Pony AI by 683.8% during the 4th quarter. Tiger Global Management LLC now owns 2,900,000 shares of the company’s stock valued at $42,050,000 after acquiring an additional 2,530,000 shares during the last quarter. FIL Ltd grew its holdings in Pony AI by 466.9% during the fourth quarter. FIL Ltd now owns 2,284,012 shares of the company’s stock valued at $33,118,000 after purchasing an additional 1,881,128 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in Pony AI by 239.6% in the 4th 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 last quarter.

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.