Pony AI (NASDAQ:PONY) Sees Strong Trading Volume – Still a Buy?

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) shares saw an uptick in trading volume on Tuesday . 5,908,286 shares were traded during mid-day trading, a decline of 22% from the previous session’s volume of 7,578,318 shares.The stock last traded at $13.56 and had previously closed at $12.59.

Analyst Ratings Changes

PONY has been the subject of several research reports. UBS Group assumed coverage on shares of Pony AI in a research note on Monday, August 4th. They issued a “buy” rating and a $20.00 price objective on the stock. Citigroup lowered their target price on Pony AI from $29.00 to $24.50 and set a “buy” rating on the stock in a research note on Friday, November 7th. Wall Street Zen raised Pony AI from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 16th. Jefferies Financial Group initiated coverage on Pony AI in a research note on Friday, October 10th. They issued a “buy” rating for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Pony AI in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $20.42.

Pony AI Stock Performance

The firm has a 50 day moving average price of $18.49 and a 200-day moving average price of $15.98. The company has a market cap of $5.19 billion and a P/E ratio of -10.78.

Pony AI (NASDAQ:PONY) last issued its quarterly earnings results on Tuesday, November 25th. The company reported ($0.16) EPS for the quarter. On average, sell-side analysts forecast that Pony AI Inc. – Sponsored ADR will post -0.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Pony AI

Hedge funds and other institutional investors have recently bought and sold shares of the business. HSG Holding Ltd bought a new stake in shares of Pony AI during the second quarter valued at approximately $78,184,000. TMT General Partner Ltd bought a new stake in shares of Pony AI during the 2nd quarter valued at $71,903,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Pony AI in the 3rd quarter valued at $89,174,000. Aspex Management HK Ltd grew its holdings in shares of Pony AI by 728.1% in the 3rd quarter. Aspex Management HK Ltd now owns 4,140,447 shares of the company’s stock valued at $93,119,000 after buying an additional 3,640,447 shares during the period. Finally, Ghisallo Capital Management LLC bought a new stake in shares of Pony AI in the 3rd quarter valued at $53,076,000.

Pony AI Company Profile

Pony AI Inc, through its subsidiaries, engages in the autonomous mobility principally in the People’s Republic of China and the United States. The company provides robotruck services, such as transportation services to the logistics platforms. Pony AI Inc is based in Guangzhou, the People’s Republic of China.