Pony AI (NASDAQ:PONY) Trading 8.6% Higher - Here's What Happened

Key Points

• Pony AI shares rose 8.6% on Thursday, trading as high as $7.27 after closing at $6.83 the prior session. Volume was lighter than usual, with about 1.23 million shares changing hands.
• Recent analyst sentiment remains mostly positive, with HSBC, Macquarie, and Goldman Sachs issuing buy/outperform calls and an average Wall Street rating of “Moderate Buy.” The consensus price target is $19.95, well above the current share price.
• The company beat expectations in its latest earnings report, posting a smaller-than-expected loss of $0.09 per share on $34.25 million in revenue. Insiders also recently sold shares, including the CFO and a vice president, while several institutional investors added small positions.

Shares of Pony AI Inc. - Sponsored ADR (NASDAQ:PONY - Get Free Report) rose 8.6% during trading on Thursday . The company traded as high as $7.27 and last traded at $7.4140. 1,228,509 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 4,314,058 shares. The stock had previously closed at $6.83.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PONY shares. HSBC assumed coverage on Pony AI in a research note on Tuesday, March 31st. They set a "buy" rating and a $16.60 price objective for the company. Macquarie Infrastructure reiterated an "outperform" rating and set a $24.00 target price on shares of Pony AI in a research note on Tuesday, May 26th. The Goldman Sachs Group set a $30.00 price target on shares of Pony AI in a research report on Thursday, April 16th. Weiss Ratings lowered shares of Pony AI from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, June 11th. Finally, Zacks Research raised shares of Pony AI from a "strong sell" rating to a "hold" rating in a report on Monday, May 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Pony AI currently has an average rating of "Moderate Buy" and an average target price of $19.95.

Pony AI Price Performance

The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of -20.24 and a beta of 4.04. The company has a 50-day simple moving average of $8.02 and a two-hundred day simple moving average of $11.00.

Pony AI (NASDAQ:PONY - Get Free Report) last announced its quarterly earnings results on Tuesday, May 26th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.03. Pony AI had a negative net margin of 128.22% and a negative return on equity of 17.13%. The company had revenue of $34.25 million during the quarter, compared to the consensus estimate of $22.30 million. Research analysts anticipate that Pony AI Inc. - Sponsored ADR will post -0.67 EPS for the current year.

Insider Buying and Selling at Pony AI

In other news, CFO Haojun Wang sold 13,751 shares of Pony AI stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $6.86, for a total transaction of $94,331.86. Following the sale, the chief financial officer owned 1,442,504 shares of the company's stock, valued at approximately $9,895,577.44. The trade was a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Luyi Mo sold 14,460 shares of the business's stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $6.86, for a total value of $99,195.60. Following the transaction, the vice president owned 350,156 shares of the company's stock, valued at approximately $2,402,070.16. This represents a 3.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 45,558 shares of company stock valued at $312,528 in the last ninety days.

Institutional Trading of Pony AI

Several hedge funds have recently added to or reduced their stakes in PONY. Blue Trust Inc. bought a new position in shares of Pony AI in the first quarter worth $30,000. Leonteq Securities AG bought a new stake in shares of Pony AI during the fourth quarter valued at about $38,000. JPMorgan Chase & Co. lifted its holdings in Pony AI by 103.5% in the third quarter. JPMorgan Chase & Co. now owns 2,110 shares of the company's stock worth $47,000 after purchasing an additional 62,748 shares during the period. Daiwa Securities Group Inc. acquired a new stake in Pony AI in the second quarter worth about $64,000. Finally, Kestra Advisory Services LLC bought a new position in Pony AI in the 4th quarter valued at about $75,000.

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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