Pony AI (NASDAQ:PONY) Shares Down 9.5% Following Analyst Downgrade

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY)’s stock price fell 9.5% during trading on Monday after Barclays lowered their price target on the stock from $15.00 to $10.00. Barclays currently has an equal weight rating on the stock. Pony AI traded as low as $8.25 and last traded at $8.2760. 5,369,992 shares changed hands during mid-day trading, an increase of 21% from the average session volume of 4,454,788 shares. The stock had previously closed at $9.14.

A number of other research analysts also recently issued reports on PONY. Citigroup reiterated a “buy” rating on shares of Pony AI in a report on Thursday, January 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Pony AI in a research report on Thursday, January 22nd. Wall Street Zen lowered Pony AI from a “hold” rating to a “sell” rating in a research note on Monday. Zacks Research lowered shares of Pony AI from a “hold” rating to a “strong sell” rating in a research report on Thursday. Finally, BNP Paribas Exane started coverage on shares of Pony AI in a research report on Thursday. They issued a “neutral” rating and a $12.50 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.67.

Hedge Funds Weigh In On Pony AI

Several hedge funds have recently modified their holdings of the stock. HSG Holding Ltd purchased a new position in shares of Pony AI in the 2nd quarter valued at approximately $78,184,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Pony AI during the 3rd quarter worth approximately $89,174,000. Aspex Management HK Ltd increased its stake in Pony AI by 728.1% during the 3rd quarter. Aspex Management HK Ltd now owns 4,140,447 shares of the company’s stock valued at $93,119,000 after purchasing an additional 3,640,447 shares in the last quarter. Tiger Global Management LLC raised its holdings in shares of Pony AI by 683.8% in the fourth quarter. Tiger Global Management LLC now owns 2,900,000 shares of the company’s stock worth $42,050,000 after buying an additional 2,530,000 shares during the last quarter. Finally, Ghisallo Capital Management LLC acquired a new stake in shares of Pony AI during the third quarter worth $53,076,000.

Pony AI Stock Down 8.3%

The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of -23.26 and a beta of 6.26. The company’s 50 day moving average price is $13.40 and its 200 day moving average price is $15.71.

Pony AI Company Profile

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.