Pony AI (NASDAQ:PONY) Issues Quarterly Earnings Results

Key Points

• Pony AI reported quarterly EPS of $(0.10), beating analysts’ consensus estimate of $(0.15) by $0.05. Despite the beat, the company posted a negative net margin of 128.22% and negative return on equity of 17.13%.
• The stock opened at $7.98 and has traded between $6.36 and $24.92 over the past year, with a market capitalization of approximately $3.47 billion. Analysts’ average rating is “Hold”, with a consensus price target of $19.94.
• Insiders sold 45,558 shares worth about $312,528 over the past three months, including sales by two vice presidents. Several institutional investors, including JPMorgan and Goldman Sachs, also increased or initiated positions.

Pony AI (NASDAQ:PONY - Get Free Report) announced its earnings results on Tuesday. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.15) by $0.05, FiscalAI reports. Pony AI had a negative net margin of 128.22% and a negative return on equity of 17.13%.

Pony AI Stock Performance

PONY opened at $7.98 on Tuesday. Pony AI has a 1 year low of $6.36 and a 1 year high of $24.92. The firm has a 50 day moving average price of $7.52 and a 200 day moving average price of $9.93. The company has a market cap of $3.47 billion, a PE ratio of -22.17 and a beta of 3.95.

Analysts Set New Price Targets

A number of equities research analysts have commented on PONY shares. Zacks Research upgraded Pony AI from a "strong sell" rating to a "hold" rating in a report on Monday, May 25th. Macquarie Infrastructure reissued an "outperform" rating and issued a $24.00 price target on shares of Pony AI in a report on Tuesday, May 26th. Weiss Ratings downgraded Pony AI from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Thursday, June 11th. Finally, Wall Street Zen lowered Pony AI from a "hold" rating to a "sell" rating in a research note on Sunday, April 26th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $19.94.

Insider Buying and Selling

In other news, VP Ning Zhang sold 17,347 shares of Pony AI 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 trade represents a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Luyi Mo sold 14,460 shares of the firm's stock in a transaction 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 approximately $2,402,070.16. The trade was a 3.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 45,558 shares of company stock valued at $312,528.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its stake in Pony AI by 103.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,110 shares of the company's stock valued at $47,000 after purchasing an additional 62,748 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Pony AI during the second quarter worth approximately $64,000. Kestra Advisory Services LLC acquired a new stake in shares of Pony AI during the fourth quarter worth approximately $75,000. Banque Cantonale Vaudoise grew its position in shares of Pony AI by 71.2% during the third quarter. Banque Cantonale Vaudoise now owns 3,662 shares of the company's stock worth $82,000 after buying an additional 1,523 shares in the last quarter. Finally, Goldman Sachs Group Inc. bought a new stake in shares of Pony AI in the first quarter worth $139,000.

About Pony AI

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.

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