Pony AI (NASDAQ:PONY) Shares Gap Down – What’s Next?

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $8.23, but opened at $7.90. Pony AI shares last traded at $7.5450, with a volume of 905,976 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PONY shares. Bank of America cut their target price on Pony AI from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, August 18th. Weiss Ratings lowered Pony AI from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Jefferies Financial Group restated a “buy” rating on shares of Pony AI in a report on Tuesday, August 18th. Macquarie Infrastructure reissued an “outperform” rating and set a $24.00 price objective on shares of Pony AI in a research report on Tuesday, May 26th. Finally, Zacks Research raised shares of Pony AI from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.57.

Pony AI Stock Down 0.1%

The firm has a market capitalization of $3.28 billion, a P/E ratio of -20.94 and a beta of 3.96. The company has a fifty day simple moving average of $7.46 and a 200 day simple moving average of $9.66.

Pony AI (NASDAQ:PONY) last posted its quarterly earnings results on Tuesday, May 26th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.03. Pony AI had a negative return on equity of 14.86% and a negative net margin of 118.47%.The firm had revenue of $34.25 million during the quarter, compared to analyst estimates of $22.30 million. As a group, equities analysts expect that Pony AI Inc. – Sponsored ADR will post -0.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Ning Zhang sold 17,347 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $6.86, for a total transaction of $119,000.42. Following the sale, the vice president owned 630,109 shares in the company, valued at $4,322,547.74. This represents a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Luyi Mo sold 14,460 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $6.86, for a total transaction of $99,195.60. Following the sale, the vice president directly owned 350,156 shares of the company’s stock, valued at $2,402,070.16. This trade represents a 3.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 45,558 shares of company stock valued at $312,528.

Institutional Trading of Pony AI

Institutional investors have recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise raised its position in Pony AI by 71.2% in the 3rd quarter. Banque Cantonale Vaudoise now owns 3,662 shares of the company’s stock worth $82,000 after buying an additional 1,523 shares during the last quarter. Baader Bank Aktiengesellschaft grew its stake in shares of Pony AI by 0.7% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 229,732 shares of the company’s stock worth $3,330,000 after acquiring an additional 1,539 shares during the period. Money Concepts Capital Corp raised its holdings in shares of Pony AI by 2.1% during the fourth quarter. Money Concepts Capital Corp now owns 93,546 shares of the company’s stock valued at $1,356,000 after purchasing an additional 1,881 shares during the last quarter. LPL Financial LLC raised its holdings in shares of Pony AI by 14.4% during the fourth quarter. LPL Financial LLC now owns 18,674 shares of the company’s stock valued at $271,000 after purchasing an additional 2,353 shares during the last quarter. Finally, Leonteq Securities AG bought a new position in Pony AI during the fourth quarter valued at approximately $38,000.

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.