Pony AI (NASDAQ:PONY) Raised to Hold at Zacks Research

Pony AI (NASDAQ:PONY) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

PONY has been the subject of a number of other research reports. Barclays decreased their price objective on shares of Pony AI from $15.00 to $10.00 and set an “equal weight” rating for the company in a report on Monday, March 30th. Macquarie Infrastructure reiterated an “outperform” rating and issued a $24.00 target price on shares of Pony AI in a research note on Tuesday. Wall Street Zen downgraded shares of Pony AI from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. The Goldman Sachs Group set a $30.00 target price on shares of Pony AI in a research note on Thursday, April 16th. Finally, HSBC began coverage on shares of Pony AI in a research note on Tuesday, March 31st. They issued a “buy” rating and a $16.60 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.95.

Pony AI Stock Up 4.7%

Shares of NASDAQ PONY opened at $9.34 on Monday. The firm has a market cap of $3.60 billion, a PE ratio of -25.94 and a beta of 4.10. Pony AI has a 12-month low of $7.99 and a 12-month high of $24.92. The company’s fifty day simple moving average is $9.87 and its 200 day simple moving average is $12.78.

Hedge Funds Weigh In On Pony AI

A number of large investors have recently modified their holdings of the company. Quantinno Capital Management LP bought a new position in shares of Pony AI in the first quarter valued at approximately $1,042,000. First Trust Advisors LP lifted its holdings 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 acquiring an additional 3,236 shares during the last quarter. TMT General Partner Ltd lifted its holdings 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 acquiring an additional 5,024,721 shares during the last quarter. Hsbc Holdings PLC bought a new stake in shares of Pony AI in the 1st quarter worth approximately $553,000. Finally, Money Concepts Capital Corp lifted its holdings 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 acquiring an additional 12,519 shares during the last quarter.

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.