Pony AI (NASDAQ:PONY) Shares Down 5% – Here’s Why

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY)’s share price fell 5% during trading on Tuesday. The company traded as low as $6.60 and last traded at $6.5950. 2,354,634 shares changed hands during trading, a decline of 44% from the average daily volume of 4,202,894 shares. The stock had previously closed at $6.94.

Analyst Ratings Changes

A number of analysts have recently issued reports on PONY shares. BNP Paribas Exane raised Pony AI from a “neutral” rating to an “outperform” rating in a research note on Thursday, August 20th. Jefferies Financial Group restated a “buy” rating on shares of Pony AI in a report on Tuesday, August 18th. Bank of America lowered their target price on shares of 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 reiterated a “sell (e+)” rating on shares of Pony AI in a research report on Tuesday, September 8th. Seven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Pony AI presently has an average rating of “Moderate Buy” and a consensus target price of $19.57.

Pony AI Stock Down 5.3%

The business has a 50-day moving average price of $7.42 and a 200-day moving average price of $8.52. The firm has a market capitalization of $2.86 billion, a PE ratio of -18.32 and a beta of 3.87.

Institutional Trading of Pony AI

Several large investors have recently added to or reduced their stakes in PONY. Blue Trust Inc. acquired a new stake in shares of Pony AI in the 1st quarter valued at $30,000. First Trust Advisors LP grew its stake in shares of Pony AI by 32.3% during the first quarter. First Trust Advisors LP now owns 13,264 shares of the company’s stock worth $125,000 after purchasing an additional 3,236 shares in the last quarter. IFP Advisors Inc increased its holdings in Pony AI by 784.6% in the fourth quarter. IFP Advisors Inc now owns 6,051 shares of the company’s stock valued at $88,000 after buying an additional 5,367 shares during the last quarter. Nykredit A S purchased a new position in Pony AI in the second quarter valued at $74,000. Finally, Havemeyer Place LP acquired a new stake in Pony AI in the fourth quarter valued at $171,000.

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.