Pony AI (NASDAQ:PONY) Downgraded to Sell Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Pony AI (NASDAQ:PONY) from a "hold" to a "sell" rating in a note to investors.
• Coverage is mixed but the consensus remains a "Moderate Buy" with an average analyst target of $20.58 (1 Strong Buy, 6 Buy, 2 Hold, 2 Sell).
• The stock opened at $10.68, has a 12‑month range of $6.81–$24.92, a market capitalization of $4.12 billion and a negative P/E of -29.68.

Pony AI (NASDAQ:PONY - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Sunday.

Other analysts also recently issued reports about the company. Citigroup reissued a "buy" rating on shares of Pony AI in a research report on Thursday, January 15th. Zacks Research downgraded Pony AI from a "hold" rating to a "strong sell" rating in a research note on Thursday, March 26th. Weiss Ratings reissued a "sell (d-)" rating on shares of Pony AI in a report on Thursday, January 22nd. BNP Paribas Exane started coverage on Pony AI in a research note on Thursday, March 26th. They issued a "neutral" rating and a $12.50 price objective on the stock. Finally, CLSA started coverage on shares of Pony AI in a report on Friday, January 2nd. They set an "outperform" rating and a $22.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $20.58.

Pony AI Trading Up 3.1%

NASDAQ:PONY opened at $10.68 on Friday. Pony AI has a 12 month low of $6.81 and a 12 month high of $24.92. The firm's 50 day moving average is $11.51 and its 200 day moving average is $14.31. The stock has a market capitalization of $4.12 billion, a PE ratio of -29.68 and a beta of 6.34.

Hedge Funds Weigh In On Pony AI

A number of large investors have recently made changes to their positions in PONY. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Pony AI by 268.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 836,728 shares of the company's stock worth $18,818,000 after purchasing an additional 609,666 shares in the last quarter. ARK Investment Management LLC purchased a new position in Pony AI during the 3rd quarter valued at about $28,623,000. Money Concepts Capital Corp purchased a new position in Pony AI during the 3rd quarter valued at about $2,062,000. Carrhae Capital LLP bought a new stake in shares of Pony AI during the third quarter valued at about $6,686,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Pony AI during the third quarter valued at about $9,509,000.

About Pony AI

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.

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