Pony AI (NASDAQ:PONY) Stock Price Down 4.3% – Should You Sell?

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) shares dropped 4.3% on Wednesday. The stock traded as low as $5.05 and last traded at $5.0520. Approximately 597,239 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 4,208,813 shares. The stock had previously closed at $5.28.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Jefferies Financial Group reissued a “buy” rating on shares of Pony AI in a report on Tuesday, August 18th. BNP Paribas Exane raised shares of Pony AI from a “neutral” rating to an “outperform” rating in a report on Thursday, August 20th. Weiss Ratings restated a “sell (e+)” rating on shares of Pony AI in a research report on Tuesday, September 8th. Finally, Bank of America dropped their price target 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 analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.57.

Pony AI Price Performance

The company has a market cap of $2.18 billion, a P/E ratio of -13.94 and a beta of 3.89. The company has a fifty day simple moving average of $6.68 and a 200-day simple moving average of $7.91.

Insider Transactions at Pony AI

In other news, VP Ning Zhang sold 15,524 shares of the firm’s stock in a transaction on Monday, September 28th. The stock was sold at an average price of $7.10, for a total transaction of $110,220.40. Following the completion of the sale, the vice president directly owned 645,835 shares of the company’s stock, valued at $4,585,428.50. This trade represents a 2.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Haojun Wang sold 13,751 shares of Pony AI stock in a transaction on Monday, September 28th. The stock was sold at an average price of $7.10, for a total value of $97,632.10. Following the completion of the transaction, the chief financial officer owned 1,463,466 shares in the company, valued at $10,390,608.60. The trade was a 0.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 41,700 shares of company stock valued at $296,070 in the last three months.

Hedge Funds Weigh In On Pony AI

A number of hedge funds and other institutional investors have recently modified their holdings of PONY. TMT General Partner Ltd boosted its holdings in shares of Pony AI by 262.1% in the first quarter. TMT General Partner Ltd now owns 6,942,135 shares of the company’s stock worth $65,534,000 after buying an additional 5,024,721 shares during the period. SG Americas Securities LLC increased its position in shares of Pony AI by 5.1% in the first quarter. SG Americas Securities LLC now owns 571,575 shares of the company’s stock worth $5,396,000 after acquiring an additional 27,750 shares in the last quarter. Pictet Asset Management Holding SA purchased a new position in shares of Pony AI in the first quarter worth approximately $3,144,000. Headlands Technologies LLC purchased a new position in shares of Pony AI in the second quarter worth approximately $1,634,000. Finally, PensionDanmark Pensionsforsikringsaktieselskab raised its holdings in shares of Pony AI by 93.3% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 145,000 shares of the company’s stock valued at $1,008,000 after acquiring an additional 70,000 shares during the period.

About Pony AI

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.