Pony AI (NASDAQ:PONY) Trading Down 9.2% - Here's What Happened

Key Points

• Shares of Pony AI were down 9.2% in mid-day trading to as low as $9.29 (last $9.2780) on Wednesday, with 1,142,080 shares traded — about 73% below the average session volume.
• Analyst coverage is mixed but tilts positive: MarketBeat lists a consensus rating of Moderate Buy with an average target of $20.58, while individual targets range from $12.50 (BNP Paribas) to $30.00 (Goldman) and Zacks has downgraded the stock to a "strong sell."
• Pony AI has a market cap of $3.68 billion, a negative P/E (-26.46) and a high beta (6.34), and several institutions (including Goldman Sachs, Invesco and Marshall Wace) have recently initiated or increased small stakes.

Pony AI Inc. - Sponsored ADR (NASDAQ:PONY - Get Free Report)'s share price fell 9.2% during mid-day trading on Wednesday . The company traded as low as $9.29 and last traded at $9.2780. 1,142,080 shares were traded during trading, a decline of 73% from the average session volume of 4,234,825 shares. The stock had previously closed at $10.22.

Wall Street Analyst Weigh In

A number of brokerages have commented on PONY. CLSA began coverage on shares of Pony AI in a report on Friday, January 2nd. They set an "outperform" rating and a $22.00 price objective on the stock. The Goldman Sachs Group set a $30.00 price objective on shares of Pony AI in a report on Thursday, April 16th. Zacks Research lowered shares of Pony AI from a "hold" rating to a "strong sell" rating in a report on Thursday, March 26th. BNP Paribas Exane began coverage on shares of Pony AI in a report on Thursday, March 26th. They set a "neutral" rating and a $12.50 price objective on the stock. Finally, Citigroup reissued a "buy" rating on shares of Pony AI in a report on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Pony AI has a consensus rating of "Moderate Buy" and an average target price of $20.58.

Pony AI Trading Down 6.6%

The company has a market cap of $3.68 billion, a P/E ratio of -26.46 and a beta of 6.34. The firm's 50 day moving average price is $11.37 and its 200-day moving average price is $14.09.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PONY. Goldman Sachs Group Inc. bought a new position in shares of Pony AI in the 1st quarter valued at about $139,000. Invesco Ltd. acquired a new stake in shares of Pony AI in the 2nd quarter valued at approximately $206,000. First Trust Advisors LP acquired a new stake in shares of Pony AI in the 2nd quarter valued at approximately $276,000. Marshall Wace LLP raised its position in shares of Pony AI by 4.7% in the 2nd quarter. Marshall Wace LLP now owns 265,503 shares of the company's stock valued at $3,505,000 after acquiring an additional 11,986 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Pony AI in the 2nd quarter valued at approximately $64,000.

Pony AI Company Profile

Pony.ai develops autonomous driving technologies for passenger and goods transportation. The company offers an end-to-end self-driving stack that combines perception, planning and control systems with proprietary hardware and software. Pony.ai’s solutions support robotaxi services and advanced driver-assistance system (ADAS) deployments across urban and suburban environments.

Founded in late 2016 by James Peng and Sean Gong, Pony.ai operates research and development centers in Fremont, California, as well as in Guangzhou and Beijing, China.

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