Pony AI (NASDAQ:PONY) Shares Down 6.2% – Here’s Why

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY)’s share price traded down 6.2% on Friday . The stock traded as low as $14.66 and last traded at $14.71. 925,246 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 7,319,959 shares. The stock had previously closed at $15.68.

Analyst Ratings Changes

PONY has been the topic of a number of research reports. Barclays started coverage on shares of Pony AI in a research note on Tuesday, December 16th. They issued an “equal weight” rating and a $15.00 price target on the stock. Jefferies Financial Group initiated coverage on Pony AI in a research note on Friday, October 10th. They issued a “buy” rating for the company. Citigroup decreased their price objective on Pony AI from $29.00 to $24.50 and set a “buy” rating on the stock in a report on Friday, November 7th. Wall Street Zen lowered shares of Pony AI from a “hold” rating to a “sell” rating in a report on Saturday, December 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Pony AI in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $21.70.

Pony AI Stock Down 7.7%

The business’s 50-day simple moving average is $15.35 and its two-hundred day simple moving average is $15.56. The firm has a market capitalization of $5.58 billion and a price-to-earnings ratio of -10.27.

Hedge Funds Weigh In On Pony AI

Hedge funds have recently bought and sold shares of the company. Banque Cantonale Vaudoise grew its holdings in shares of Pony AI by 71.2% in the third quarter. Banque Cantonale Vaudoise now owns 3,662 shares of the company’s stock valued at $82,000 after purchasing an additional 1,523 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Pony AI by 704.8% in the third quarter. Jones Financial Companies Lllp now owns 2,197 shares of the company’s stock valued at $47,000 after acquiring an additional 1,924 shares in the last quarter. CWM LLC purchased a new position in Pony AI in the second quarter valued at $28,000. FNY Investment Advisers LLC purchased a new stake in Pony AI during the 3rd quarter worth about $50,000. Finally, SBI Securities Co. Ltd. increased its holdings in Pony AI by 29.7% during the 3rd quarter. SBI Securities Co. Ltd. now owns 19,875 shares of the company’s stock worth $447,000 after purchasing an additional 4,546 shares during the period.

Pony AI Company Profile

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.