Daiwa America Upgrades Pony AI (NASDAQ:PONY) to Strong-Buy

Key Points

• Pony AI has been upgraded to a "strong-buy" rating by Daiwa America, indicating increased confidence in the company's stock.
• The stock has a consensus price target of $19.20, and currently has a buy rating from four analysts, along with one strong buy rating.
• Pony AI's recent quarterly earnings reported a loss of ($0.12) EPS, with revenue of $13.98 million, and analysts predict a projected -0.38 EPS for the current fiscal year.

Pony AI (NASDAQ:PONY - Get Free Report) was upgraded by Daiwa America to a "strong-buy" rating in a research report issued to clients and investors on Sunday,Zacks.com reports.

Separately, Daiwa Capital Markets assumed coverage on shares of Pony AI in a report on Sunday. They issued an "outperform" rating on the stock. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Pony AI has a consensus rating of "Buy" and a consensus target price of $19.20.

Pony AI Stock Down 3.0%

Shares of PONY traded down $0.40 during mid-day trading on Friday, hitting $13.04. 3,977,919 shares of the company's stock were exchanged, compared to its average volume of 7,905,628. Pony AI has a fifty-two week low of $4.11 and a fifty-two week high of $23.88. The stock's 50-day moving average is $13.89 and its 200-day moving average is $13.00.

Pony AI (NASDAQ:PONY - Get Free Report) last issued its quarterly earnings results on Tuesday, May 20th. The company reported ($0.12) earnings per share (EPS) for the quarter. The firm had revenue of $13.98 million for the quarter. Analysts forecast that Pony AI will post -0.38 earnings per share for the current fiscal year.

Institutional Trading of Pony AI

Several hedge funds have recently added to or reduced their stakes in the company. CWM LLC acquired a new stake in Pony AI during the second quarter worth approximately $28,000. Pinpoint Asset Management Ltd acquired a new stake in Pony AI during the fourth quarter worth approximately $108,000. Keystone Investors PTE Ltd. acquired a new stake in Pony AI during the first quarter worth approximately $120,000. Goldman Sachs Group Inc. acquired a new stake in Pony AI during the first quarter worth approximately $139,000. Finally, Barclays PLC acquired a new stake in Pony AI during the fourth quarter worth approximately $212,000.

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.