Pony AI (NASDAQ:PONY) Announces Earnings Results

Key Points

• Pony AI reported a quarterly earnings loss of ($0.14) per share, with shares opening at $15.06 on the day of the release.
• Goldman Sachs recently acquired 15,805 shares of Pony AI stock, indicating institutional interest in the company.
• Five analysts have rated Pony AI as a buy, with the current average target price being $19.40.

Pony AI (NASDAQ:PONY - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported ($0.14) earnings per share for the quarter, Zacks reports. The company had revenue of $21.45 million during the quarter.

Pony AI Trading Up 4.7%

Pony AI stock traded up $0.71 during mid-day trading on Friday, reaching $15.86. The stock had a trading volume of 7,751,706 shares, compared to its average volume of 9,505,660. Pony AI has a fifty-two week low of $4.11 and a fifty-two week high of $23.88. The stock's 50-day simple moving average is $13.44 and its 200-day simple moving average is $13.09.

Institutional Investors Weigh In On Pony AI

A number of hedge funds have recently added to or reduced their stakes in PONY. Bamco Inc. NY acquired a new stake in Pony AI in the second quarter valued at approximately $22,230,000. Balyasny Asset Management L.P. boosted its position in shares of Pony AI by 431.8% during the second quarter. Balyasny Asset Management L.P. now owns 602,952 shares of the company's stock valued at $7,959,000 after buying an additional 489,566 shares during the last quarter. Nikko Asset Management Americas Inc. purchased a new position in shares of Pony AI during the second quarter valued at approximately $3,848,000. Bank of America Corp DE boosted its position in shares of Pony AI by 12.4% during the second quarter. Bank of America Corp DE now owns 235,182 shares of the company's stock valued at $3,104,000 after buying an additional 25,864 shares during the last quarter. Finally, First Trust Advisors LP purchased a new position in shares of Pony AI during the second quarter valued at approximately $276,000.

Analysts Set New Price Targets

Several research firms have commented on PONY. Daiwa Capital Markets began coverage on Pony AI in a research report on Sunday, July 27th. They issued an "outperform" rating for the company. Daiwa America raised Pony AI to a "strong-buy" rating in a research note on Sunday, July 27th. UBS Group assumed coverage on Pony AI in a research note on Monday, August 4th. They issued a "buy" rating and a $20.00 price target for the company. Finally, Wall Street Zen raised Pony AI from a "strong sell" rating to a "hold" rating in a research note on Saturday. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Pony AI currently has a consensus rating of "Buy" and an average price target of $19.40.

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.