HSBC Initiates Coverage on Pony AI (NASDAQ:PONY)

HSBC began coverage on shares of Pony AI (NASDAQ:PONY) in a research report issued to clients and investors on Tuesday. The brokerage set a “buy” rating and a $16.60 price target on the stock. HSBC’s price objective indicates a potential upside of 85.58% from the company’s previous close.

A number of other research analysts have also weighed in on the stock. Barclays decreased their target price on shares of Pony AI from $15.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Monday. Wall Street Zen downgraded Pony AI from a “hold” rating to a “sell” rating in a research note on Monday. CLSA began coverage on shares of Pony AI in a research report on Friday, January 2nd. They set an “outperform” rating and a $22.00 price target on the stock. Macquarie Infrastructure began coverage on shares of Pony AI in a research report on Monday, December 15th. They set an “outperform” rating and a $29.00 price objective for the company. Finally, Zacks Research lowered shares of Pony AI from a “hold” rating to a “strong sell” rating in a report on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.23.

Pony AI Price Performance

NASDAQ PONY traded up $0.41 during mid-day trading on Tuesday, hitting $8.95. The stock had a trading volume of 2,128,722 shares, compared to its average volume of 4,470,057. Pony AI has a twelve month low of $4.11 and a twelve month high of $24.92. The firm’s 50 day moving average is $13.25 and its 200 day moving average is $15.67. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of -24.70 and a beta of 6.24.

Institutional Investors Weigh In On Pony AI

A number of institutional investors have recently made changes to their positions in PONY. HSG Holding Ltd acquired a new position in shares of Pony AI in the 2nd quarter worth approximately $78,184,000. Aspex Management HK Ltd boosted its position in shares of Pony AI by 728.1% during the third quarter. Aspex Management HK Ltd now owns 4,140,447 shares of the company’s stock worth $93,119,000 after buying an additional 3,640,447 shares during the period. Lingotto Investment Management LLP grew its stake in shares of Pony AI by 72.6% in the fourth quarter. Lingotto Investment Management LLP now owns 4,107,512 shares of the company’s stock valued at $59,559,000 after buying an additional 1,727,620 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Pony AI in the 3rd quarter valued at $89,174,000. Finally, Tiger Global Management LLC boosted its holdings in Pony AI by 683.8% during the 4th quarter. Tiger Global Management LLC now owns 2,900,000 shares of the company’s stock valued at $42,050,000 after acquiring an additional 2,530,000 shares during the period.

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.