Pony AI (NASDAQ:PONY) Hits New 1-Year Low - Time to Sell?

Key Points

• Pony AI hit a new 52-week low, trading as low as $4.42 and last at $4.46, down from the previous close of $4.75.
• Analysts’ consensus rating is “Moderate Buy” from eight Buy, two Hold, and one Sell rating; the average price target is $18.51.
• Company insiders sold a total of 41,700 shares worth about $296,070 over the past three months, including sales by the CFO and a vice president.

Pony AI Inc. - Sponsored ADR (NASDAQ:PONY - Get Free Report)'s share price hit a new 52-week low during trading on Thursday. The stock traded as low as $4.42 and last traded at $4.46, with a volume of 459,776 shares trading hands. The stock had previously closed at $4.75.

Analysts Set New Price Targets

Several research firms have commented on PONY. Jefferies Financial Group restated a "buy" rating on shares of Pony AI in a research note on Tuesday, August 18th. Bank of America cut their price objective on shares of Pony AI from $19.00 to $17.00 and set a "buy" rating on the stock in a report on Tuesday, August 18th. Morgan Stanley started coverage on shares of Pony AI in a research report on Tuesday. They set an "overweight" rating and a $10.00 price objective for the company. BNP Paribas Exane upgraded shares of Pony AI from a "neutral" rating to an "outperform" rating in a report on Thursday, August 20th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Pony AI in a research report on Tuesday, September 8th. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $18.51.

Pony AI Price Performance

The stock has a 50-day simple moving average of $6.15 and a 200-day simple moving average of $9.14. The stock has a market cap of $1.92 billion, a PE ratio of -12.29 and a beta of 4.04.

Insider Buying and Selling

In other news, VP Luyi Mo sold 12,425 shares of the stock in a transaction on Monday, September 28th. The stock was sold at an average price of $7.10, for a total value of $88,217.50. Following the completion of the transaction, the vice president owned 362,737 shares of the company's stock, valued at approximately $2,575,432.70. This represents a 3.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Haojun Wang sold 13,751 shares of the business's stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $7.10, for a total transaction of $97,632.10. Following the completion of the sale, the chief financial officer owned 1,463,466 shares in the company, valued at approximately $10,390,608.60. This trade represents a 0.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 41,700 shares of company stock worth $296,070 in the last three months.

Hedge Funds Weigh In On Pony AI

A number of institutional investors have recently made changes to their positions in the business. Nykredit A S acquired a new position in shares of Pony AI in the 2nd quarter valued at $74,000. Greenleaf Trust acquired a new stake in shares of Pony AI in the 2nd quarter valued at approximately $88,000. Corient Private Wealth LP acquired a new stake in shares of Pony AI in the 2nd quarter valued at approximately $89,000. First Trust Advisors LP raised its position in shares of Pony AI by 32.3% in the 1st quarter. First Trust Advisors LP now owns 13,264 shares of the company's stock valued at $125,000 after acquiring an additional 3,236 shares during the period. Finally, AXQ Capital LP bought a new position in Pony AI during the 2nd quarter worth approximately $134,000.

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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