Pony AI (NASDAQ:PONY) Shares Gap Down - Here's What Happened

Key Points

• Pony AI's stock price fell from a previous close of $20.71 to an opening of $19.85, with the last traded price at $19.41.
• Despite the recent decline, several Wall Street analysts have upgraded Pony AI, with a consensus rating of "Buy" and a target price of $19.40.
• Pony AI reported a revenue of $21.45 million for the last quarter, alongside an earnings per share of (-$0.14).

Pony AI Inc. - Sponsored ADR (NASDAQ:PONY - Get Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $20.71, but opened at $19.85. Pony AI shares last traded at $19.41, with a volume of 3,901,843 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Wall Street Zen raised Pony AI from a "strong sell" rating to a "hold" rating in a report on Saturday, August 16th. Daiwa Capital Markets assumed coverage on Pony AI in a report on Sunday, July 27th. They issued an "outperform" rating on the stock. UBS Group began coverage on Pony AI in a report on Monday, August 4th. They issued a "buy" rating and a $20.00 price objective on the stock. Finally, Daiwa America raised Pony AI to a "strong-buy" rating in a research note on Sunday, July 27th. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $19.40.

Pony AI Stock Up 8.6%

The company has a 50 day moving average price of $14.85 and a 200 day moving average price of $13.02.

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

Hedge Funds Weigh In On Pony AI

Several large investors have recently modified their holdings of the business. HSG Holding Ltd purchased a new stake in shares of Pony AI in the 2nd quarter valued at $78,184,000. TMT General Partner Ltd purchased a new stake in shares of Pony AI in the 2nd quarter valued at $71,903,000. Bamco Inc. NY purchased a new stake in shares of Pony AI in the 2nd quarter valued at $22,230,000. Wellington Management Group LLP purchased a new stake in shares of Pony AI in the 4th quarter valued at $19,334,000. Finally, Lingotto Investment Management LLP raised its holdings in shares of Pony AI by 55.6% in the 2nd quarter. Lingotto Investment Management LLP now owns 2,379,892 shares of the company's stock valued at $31,415,000 after buying an additional 850,000 shares during the period.

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.