Renaissance Capital LLC Has $226,000 Stock Holdings in Pony AI Inc. - Sponsored ADR $PONY

Key Points

• Renaissance Capital LLC has decreased its position in Pony AI by 57.1%, now holding 17,111 shares valued at approximately $226,000.
• Institutional investor activity includes significant increases in holdings by Baader Bank and HITE Hedge Asset Management, indicating growing interest in Pony AI.
• Analysts have issued mostly positive ratings, with an average target price of $19.40, suggesting a favorable outlook for the company's stock.

Renaissance Capital LLC decreased its position in Pony AI Inc. - Sponsored ADR (NASDAQ:PONY - Free Report) by 57.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,111 shares of the company's stock after selling 22,802 shares during the quarter. Pony AI makes up approximately 0.2% of Renaissance Capital LLC's portfolio, making the stock its 28th largest position. Renaissance Capital LLC's holdings in Pony AI were worth $226,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Baader Bank Aktiengesellschaft grew its position in Pony AI by 112.6% during the second quarter. Baader Bank Aktiengesellschaft now owns 274,720 shares of the company's stock valued at $3,570,000 after buying an additional 145,525 shares during the period. Goldman Sachs Group Inc. purchased a new stake in Pony AI during the first quarter valued at about $139,000. Lansforsakringar Fondforvaltning AB publ purchased a new stake in Pony AI during the first quarter valued at about $345,000. HITE Hedge Asset Management LLC lifted its holdings in Pony AI by 45.1% during the first quarter. HITE Hedge Asset Management LLC now owns 98,588 shares of the company's stock valued at $870,000 after purchasing an additional 30,654 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Pony AI by 47.8% during the first quarter. Wellington Management Group LLP now owns 1,991,811 shares of the company's stock valued at $17,568,000 after purchasing an additional 644,518 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PONY shares. Wall Street Zen raised shares of Pony AI from a "strong sell" rating to a "hold" rating in a report on Saturday, August 16th. Daiwa America raised shares of Pony AI to a "strong-buy" rating in a report on Sunday, July 27th. Daiwa Capital Markets started coverage on shares of Pony AI in a report on Sunday, July 27th. They set an "outperform" rating on the stock. Citigroup initiated coverage on shares of Pony AI in a report on Monday. They set a "buy" rating on the stock. Finally, UBS Group initiated coverage on shares of Pony AI in a report on Monday, August 4th. They issued a "buy" rating and a $20.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company's stock. According to MarketBeat, Pony AI currently has an average rating of "Buy" and an average target price of $19.40.

Pony AI Trading Up 7.3%

Shares of NASDAQ PONY opened at $22.72 on Tuesday. The firm's 50 day simple moving average is $15.71 and its two-hundred day simple moving average is $13.30. Pony AI Inc. - Sponsored ADR has a one year low of $4.11 and a one year high of $23.88.

Pony AI (NASDAQ:PONY - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported ($0.14) earnings per share (EPS) for the quarter. The firm had revenue of $21.45 million for the quarter. On average, equities analysts anticipate that Pony AI Inc. - Sponsored ADR will post -0.38 EPS for the current fiscal year.

Pony AI Company Profile

Pony AI Inc, through its subsidiaries, engages in the autonomous mobility principally in the People's Republic of China and the United States. The company provides robotruck services, such as transportation services to the logistics platforms. Pony AI Inc is based in Guangzhou, the People's Republic of China.

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