Pony AI (NASDAQ:PONY) Trading Down 3.8% - Here's What Happened

Key Points

• Pony AI's stock price decreased by 3.8% to $23.15, with a trading volume 55% lower than its average.
• Analysts currently have a consensus rating of "Moderate Buy" for Pony AI, with a price target averaging $19.40.
• Several hedge funds have significantly increased their stakes in Pony AI, including HSG Holding Ltd with an investment of about $78 million.

Pony AI Inc. - Sponsored ADR (NASDAQ:PONY - Get Free Report)'s share price was down 3.8% during trading on Friday . The stock traded as low as $23.07 and last traded at $23.15. Approximately 3,539,974 shares changed hands during trading, a decline of 55% from the average daily volume of 7,810,104 shares. The stock had previously closed at $24.06.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PONY. UBS Group assumed coverage on Pony AI in a report on Monday, August 4th. They issued a "buy" rating and a $20.00 target price for the company. Daiwa America raised Pony AI to a "strong-buy" rating in a research report on Sunday, July 27th. Daiwa Capital Markets assumed coverage on Pony AI in a research note on Sunday, July 27th. They set an "outperform" rating on the stock. Wall Street Zen upgraded shares of Pony AI from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 16th. Finally, Citigroup assumed coverage on shares of Pony AI in a research report on Monday. They issued a "buy" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Pony AI presently has an average rating of "Moderate Buy" and a consensus price target of $19.40.

Pony AI Stock Performance

The business has a fifty day moving average of $16.23 and a 200-day moving average of $13.50.

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

Hedge Funds Weigh In On Pony AI

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. HSG Holding Ltd purchased a new position in shares of Pony AI during the 2nd quarter valued at about $78,184,000. TMT General Partner Ltd bought a new position in Pony AI during the second quarter valued at approximately $71,903,000. Bamco Inc. NY purchased a new position in shares of Pony AI during the second quarter worth approximately $22,230,000. Lingotto Investment Management LLP lifted 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 worth $31,415,000 after acquiring an additional 850,000 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Pony AI by 47.8% in the 1st quarter. Wellington Management Group LLP now owns 1,991,811 shares of the company's stock valued at $17,568,000 after purchasing an additional 644,518 shares in the last quarter.

About Pony AI

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.

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