Pony AI (NASDAQ:PONY) Trading 7.6% Higher – What’s Next?

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY)’s stock price shot up 7.6% during mid-day trading on Tuesday . The stock traded as high as $7.39 and last traded at $7.4050. 4,354,699 shares were traded during mid-day trading, an increase of 3% from the average daily volume of 4,216,818 shares. The stock had previously closed at $6.88.

Analyst Ratings Changes

Several equities research analysts have issued reports on PONY shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Pony AI in a research note on Tuesday, September 8th. BNP Paribas Exane upgraded shares of Pony AI from a “neutral” rating to an “outperform” rating in a research report on Thursday, August 20th. Bank of America cut their price target on Pony AI from $19.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, August 18th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Pony AI 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 issued a Sell rating to the stock. Based on data from MarketBeat, Pony AI has a consensus rating of “Moderate Buy” and an average target price of $19.57.

Pony AI Price Performance

The company has a market cap of $3.15 billion, a PE ratio of -20.17 and a beta of 3.87. The company has a 50-day moving average price of $7.41 and a two-hundred day moving average price of $8.65.

Insider Buying and Selling

In other Pony AI news, CFO Haojun Wang sold 13,751 shares of Pony AI stock in a transaction on Friday, June 26th. The stock was sold at an average price of $6.86, for a total transaction of $94,331.86. Following the sale, the chief financial officer owned 1,442,504 shares of the company’s stock, valued at $9,895,577.44. The trade was a 0.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $119,000.42. Following the sale, the vice president directly owned 630,109 shares in the company, valued at approximately $4,322,547.74. The trade was a 2.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 45,558 shares of company stock worth $312,528.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PONY. TMT General Partner Ltd raised its position in Pony AI by 262.1% during the first quarter. TMT General Partner Ltd now owns 6,942,135 shares of the company’s stock valued at $65,534,000 after acquiring an additional 5,024,721 shares in the last quarter. Lingotto Investment Management LLP increased its position in shares of Pony AI by 72.6% during the fourth quarter. Lingotto Investment Management LLP now owns 4,107,512 shares of the company’s stock valued at $59,559,000 after purchasing an additional 1,727,620 shares during the period. Amova Asset Management Americas Inc. raised its stake in shares of Pony AI by 266.2% in the 4th quarter. Amova Asset Management Americas Inc. now owns 1,974,499 shares of the company’s stock valued at $28,630,000 after buying an additional 1,435,358 shares in the last quarter. Hel Ved Capital Management Ltd raised its position in Pony AI by 47.5% in the fourth quarter. Hel Ved Capital Management Ltd now owns 778,879 shares of the company’s stock worth $11,294,000 after purchasing an additional 250,900 shares in the last quarter. Finally, Keystone Investors PTE Ltd. raised its holdings in shares of Pony AI by 202.0% in the 4th quarter. Keystone Investors PTE Ltd. now owns 668,658 shares of the company’s stock worth $9,696,000 after buying an additional 447,250 shares in the last quarter.

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.