Pony AI (NASDAQ:PONY) Shares Gap Up – Time to Buy?

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) gapped up before the market opened on Monday . The stock had previously closed at $6.87, but opened at $7.28. Pony AI shares last traded at $6.9460, with a volume of 681,567 shares traded.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PONY shares. Weiss Ratings downgraded shares of Pony AI from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 11th. The Goldman Sachs Group set a $30.00 target price on Pony AI in a research note on Thursday, April 16th. HSBC assumed coverage on Pony AI in a research report on Tuesday, March 31st. They set a “buy” rating and a $16.60 price objective on the stock. Macquarie Infrastructure reaffirmed an “outperform” rating and set a $24.00 target price on shares of Pony AI in a report on Tuesday, May 26th. Finally, BNP Paribas Exane started coverage on shares of Pony AI in a report on Thursday, March 26th. They issued a “neutral” rating and a $12.50 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $19.95.

Pony AI Trading Up 0.9%

The stock has a market capitalization of $2.67 billion, a P/E ratio of -19.32 and a beta of 3.85. The business has a fifty day simple moving average of $9.23 and a 200 day simple moving average of $12.01.

Pony AI (NASDAQ:PONY) last issued its quarterly earnings data on Tuesday, May 26th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $34.25 million for the quarter, compared to analysts’ expectations of $22.30 million. As a group, research analysts forecast that Pony AI Inc. – Sponsored ADR will post -0.67 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. bought a new position in shares of Pony AI during the 1st quarter worth $139,000. Invesco Ltd. purchased a new position in shares of Pony AI during the second quarter worth approximately $206,000. First Trust Advisors LP purchased a new position in Pony AI in the 2nd quarter worth $276,000. Marshall Wace LLP grew its stake in shares of Pony AI by 4.7% during the second quarter. Marshall Wace LLP now owns 265,503 shares of the company’s stock valued at $3,505,000 after buying an additional 11,986 shares during the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in Pony AI in the second quarter valued at approximately $64,000.

About Pony AI

Pony.ai develops autonomous driving technologies for passenger and goods transportation. The company offers an end-to-end self-driving stack that combines perception, planning and control systems with proprietary hardware and software. Pony.ai’s solutions support robotaxi services and advanced driver-assistance system (ADAS) deployments across urban and suburban environments.

Founded in late 2016 by James Peng and Sean Gong, Pony.ai operates research and development centers in Fremont, California, as well as in Guangzhou and Beijing, China.