Pony AI (NASDAQ:PONY) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Pony AI (NASDAQ:PONY) posted its quarterly earnings results on Tuesday. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.05, FiscalAI reports. Pony AI had a negative return on equity of 17.13% and a negative net margin of 128.22%.

Pony AI Stock Down 2.0%

Shares of PONY stock opened at $7.98 on Tuesday. The business has a 50 day moving average of $7.52 and a two-hundred day moving average of $9.93. Pony AI has a 52 week low of $6.36 and a 52 week high of $24.92. The company has a market cap of $3.47 billion, a P/E ratio of -22.17 and a beta of 3.95.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Weiss Ratings downgraded Pony AI from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 11th. Macquarie Infrastructure reiterated an “outperform” rating and issued a $24.00 price target on shares of Pony AI in a report on Tuesday, May 26th. Zacks Research raised Pony AI from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Finally, Wall Street Zen cut Pony AI from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Pony AI presently has an average rating of “Hold” and a consensus price target of $19.94.

Insider Activity

In related news, VP Ning Zhang sold 17,347 shares of the business’s 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 $119,000.42. Following the completion of the transaction, the vice president owned 630,109 shares in the company, valued at $4,322,547.74. The trade was a 2.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Haojun Wang sold 13,751 shares of the business’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 $94,331.86. Following the transaction, the chief financial officer owned 1,442,504 shares of the company’s stock, valued at $9,895,577.44. This represents a 0.94% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 45,558 shares of company stock valued at $312,528.

Institutional Investors Weigh In On Pony AI

Large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. bought a new stake in Pony AI in the first quarter valued at $139,000. Invesco Ltd. bought a new stake in Pony AI in the 2nd quarter valued at about $206,000. First Trust Advisors LP bought a new stake in Pony AI in the 2nd quarter valued at about $276,000. Marshall Wace LLP boosted its stake in Pony AI by 4.7% during the 2nd quarter. Marshall Wace LLP now owns 265,503 shares of the company’s stock valued at $3,505,000 after purchasing an additional 11,986 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new position in Pony AI during the 2nd quarter valued at about $64,000.

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.