Pony AI (NASDAQ:PONY) Reaches New 12-Month Low – Here’s Why

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) hit a new 52-week low on Tuesday. The company traded as low as $5.55 and last traded at $5.6090, with a volume of 100,913 shares. The stock had previously closed at $5.74.

Analyst Ratings Changes

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

Pony AI Stock Down 2.4%

The firm’s 50-day moving average is $7.16 and its 200-day moving average is $8.15. The company has a market capitalization of $2.43 billion, a PE ratio of -15.57 and a beta of 3.89.

Insider Buying and Selling at Pony AI

In other news, VP Luyi Mo sold 12,425 shares of the company’s stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $7.10, for a total value of $88,217.50. Following the completion of the transaction, the vice president directly owned 362,737 shares in the company, valued at approximately $2,575,432.70. This represents a 3.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Haojun Wang sold 13,751 shares of the stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $7.10, for a total value of $97,632.10. Following the transaction, the chief financial officer owned 1,463,466 shares in the company, valued at $10,390,608.60. This trade represents a 0.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 41,700 shares of company stock worth $296,070 over the last 90 days.

Institutional Trading of Pony AI

A number of hedge funds have recently bought and sold shares of the company. Blue Trust Inc. purchased a new stake in Pony AI in the first quarter worth approximately $30,000. Nykredit A S purchased a new position in shares of Pony AI during the second quarter worth approximately $74,000. Greenleaf Trust purchased a new position in shares of Pony AI during the second quarter worth approximately $88,000. Corient Private Wealth LP purchased a new position in shares of Pony AI during the second quarter worth approximately $89,000. Finally, First Trust Advisors LP lifted its holdings in shares of Pony AI by 32.3% in the 1st quarter. First Trust Advisors LP now owns 13,264 shares of the company’s stock worth $125,000 after acquiring an additional 3,236 shares during the last quarter.

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.