Pony AI (NASDAQ:PONY) Trading Down 4.2% - Here's Why

Key Points

• Pony AI's shares fell by 4.2%, with trading recorded at $22.48, significantly below the previous close of $23.46.
• Equities research reports show a mixed sentiment, with one analyst rating it a Strong Buy, six giving it a Buy rating, and one issuing a Sell rating, while the average target price is $19.40.
• In its latest earnings report, Pony AI posted a revenue of $21.45 million and is projected to have an earnings per share of -0.38 for the current year.

Shares of Pony AI Inc. - Sponsored ADR (NASDAQ:PONY - Get Free Report) traded down 4.2% during trading on Thursday . The company traded as low as $22.42 and last traded at $22.48. 662,469 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 7,767,934 shares. The stock had previously closed at $23.46.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Pony AI in a research note on Wednesday. Citigroup started coverage on Pony AI in a research note on Monday, September 29th. They issued a "buy" rating on the stock. Daiwa America upgraded Pony AI to a "strong-buy" rating in a research note on Sunday, July 27th. UBS Group started coverage on Pony AI in a research note on Monday, August 4th. They issued a "buy" rating and a $20.00 price target on the stock. Finally, Wall Street Zen raised shares of Pony AI from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $19.40.

Pony AI Stock Performance

The company has a fifty day moving average of $16.94 and a two-hundred day moving average of $13.79.

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 business had revenue of $21.45 million during the quarter. Analysts predict that Pony AI Inc. - Sponsored ADR will post -0.38 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PONY. CWM LLC bought a new stake in shares of Pony AI during the 2nd quarter worth approximately $28,000. Daiwa Securities Group Inc. bought a new stake in Pony AI in the second quarter valued at approximately $64,000. Keystone Investors PTE Ltd. acquired a new stake in Pony AI during the 1st quarter worth about $120,000. Goldman Sachs Group Inc. acquired a new position in shares of Pony AI during the 1st quarter valued at $139,000. Finally, Osaic Holdings Inc. bought a new position in Pony AI in the second quarter worth approximately $140,000.

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.