Pony AI (NASDAQ:PONY) Reaches New 12-Month Low – Time to Sell?

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) shares reached a new 52-week low on Friday . The stock traded as low as $8.20 and last traded at $8.2550, with a volume of 2973985 shares trading hands. The stock had previously closed at $8.79.

Analyst Ratings Changes

PONY has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Pony AI in a research note on Thursday, January 22nd. Zacks Research cut shares of Pony AI from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 26th. HSBC initiated coverage on shares of Pony AI in a research note on Tuesday, March 31st. They set a “buy” rating and a $16.60 target price for the company. Barclays cut their target price on shares of Pony AI from $15.00 to $10.00 and set an “equal weight” rating for the company in a research note on Monday, March 30th. Finally, BNP Paribas Exane initiated coverage on shares of Pony AI in a research note on Thursday, March 26th. They set a “neutral” rating and a $12.50 target price for the company. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.58.

Pony AI Trading Down 5.9%

The firm has a market capitalization of $3.19 billion, a PE ratio of -22.96 and a beta of 4.10. The business’s 50 day simple moving average is $10.52 and its 200 day simple moving average is $13.37.

Hedge Funds Weigh In On Pony AI

A number of institutional investors and hedge funds have recently made changes to their positions in the business. First Trust Advisors LP grew its stake in shares of Pony AI by 32.3% in the 1st quarter. First Trust Advisors LP now owns 13,264 shares of the company’s stock worth $125,000 after buying an additional 3,236 shares in the last quarter. TMT General Partner Ltd grew its stake in shares of Pony AI by 262.1% in the 1st 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 in the last quarter. Hsbc Holdings PLC purchased a new position in shares of Pony AI in the 1st quarter worth $553,000. Money Concepts Capital Corp grew its stake in shares of Pony AI by 13.4% in the 1st quarter. Money Concepts Capital Corp now owns 106,065 shares of the company’s stock worth $1,001,000 after buying an additional 12,519 shares in the last quarter. Finally, Pictet Asset Management Holding SA purchased a new position in shares of Pony AI in the 1st quarter worth $3,144,000.

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.