Pony AI (NASDAQ:PONY) Trading 5% Higher - Here's What Happened

Key Points

• Pony AI shares rose by 5%, trading at $14.79 after a previous close of $14.09, with a significant decline in trading volume of 76% compared to the average.
• Wall Street analysts are optimistic about Pony AI, with a consensus rating of "Buy" and a target price of $19.40, reflecting growing confidence in the company's performance.
• The company reported a quarterly loss of ($0.14) EPS on revenues of $21.45 million, amid forecasts of a -0.38 EPS for the current year.

Pony AI Inc. - Sponsored ADR (NASDAQ:PONY - Get Free Report) shares traded up 5% during trading on Tuesday . The company traded as high as $14.90 and last traded at $14.79. 1,790,385 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 7,543,213 shares. The stock had previously closed at $14.09.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Daiwa Capital Markets began coverage on Pony AI in a research note on Sunday, July 27th. They issued an "outperform" rating for the company. Daiwa America upgraded Pony AI to a "strong-buy" rating in a research note on Sunday, July 27th. UBS Group began coverage on Pony AI in a research note on Monday, August 4th. They set a "buy" rating and a $20.00 price objective for the company. Finally, Wall Street Zen upgraded Pony AI from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 16th. One analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. Based on data from MarketBeat, Pony AI has a consensus rating of "Buy" and a consensus target price of $19.40.

Pony AI Price Performance

The stock has a 50-day simple moving average of $14.00 and a two-hundred day simple moving average of $12.95.

Pony AI (NASDAQ:PONY - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.14) EPS for the quarter. The company had revenue of $21.45 million during the quarter. As a group, equities analysts forecast that Pony AI Inc. - Sponsored ADR will post -0.38 earnings per share for the current year.

Institutional Trading of Pony AI

Several large investors have recently modified their holdings of PONY. Mirae Asset Global Investments Co. Ltd. grew its holdings in Pony AI by 3,136.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 632,791 shares of the company's stock valued at $5,581,000 after purchasing an additional 613,238 shares during the period. Yarbrough Capital LLC boosted its stake in shares of Pony AI by 38.0% in the first quarter. Yarbrough Capital LLC now owns 100,001 shares of the company's stock worth $882,000 after acquiring an additional 27,538 shares during the period. Prudential PLC bought a new position in shares of Pony AI in the first quarter worth about $334,000. Barclays PLC bought a new position in shares of Pony AI in the fourth quarter worth about $212,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Pony AI in the first quarter worth about $293,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.