Pony AI (NASDAQ:PONY) Stock Price Down 4.3% – What’s Next?

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) shares were down 4.3% during trading on Wednesday . The company traded as low as $7.26 and last traded at $7.2150. 1,001,039 shares were traded during trading, a decline of 77% from the average daily volume of 4,266,341 shares. The stock had previously closed at $7.54.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PONY shares. Macquarie Infrastructure reiterated an “outperform” rating and issued a $24.00 target price on shares of Pony AI in a research note on Tuesday, May 26th. Bank of America reduced their price target 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. Weiss Ratings cut Pony AI from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 11th. Zacks Research raised shares of Pony AI from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Pony AI in a research note on Tuesday, August 18th. Seven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Pony AI presently has an average rating of “Moderate Buy” and an average price target of $19.57.

Pony AI Trading Down 3.9%

The business’s 50-day simple moving average is $7.46 and its two-hundred day simple moving average is $9.66. The company has a market capitalization of $3.15 billion, a PE ratio of -20.12 and a beta of 3.96.

Pony AI (NASDAQ:PONY) last announced its earnings results on Tuesday, May 26th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.03. Pony AI had a negative return on equity of 14.86% and a negative net margin of 118.47%.The business had revenue of $34.25 million for the quarter, compared to analyst estimates of $22.30 million. On average, analysts forecast that Pony AI Inc. – Sponsored ADR will post -0.65 EPS for the current year.

Insider Activity at Pony AI

In other Pony AI news, VP Luyi Mo sold 14,460 shares of Pony AI stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $6.86, for a total transaction of $99,195.60. Following the sale, the vice president directly owned 350,156 shares in the company, valued at $2,402,070.16. The trade was a 3.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Ning Zhang sold 17,347 shares of the company’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 value of $119,000.42. Following the completion of the transaction, the vice president directly owned 630,109 shares in the company, valued at approximately $4,322,547.74. The trade was a 2.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 45,558 shares of company stock valued at $312,528.

Institutional Trading of Pony AI

A number of hedge funds and other institutional investors have recently made changes to their positions in PONY. Goldman Sachs Group Inc. acquired a new stake in Pony AI in the first quarter valued at $139,000. Invesco Ltd. acquired a new position in Pony AI during the 2nd quarter worth $206,000. First Trust Advisors LP bought a new stake in shares of Pony AI in the 2nd quarter worth about $276,000. Marshall Wace LLP increased its position in shares of Pony AI by 4.7% in the 2nd quarter. Marshall Wace LLP now owns 265,503 shares of the company’s stock worth $3,505,000 after purchasing an additional 11,986 shares during the last quarter. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Pony AI in the 2nd quarter valued at about $64,000.

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.