Pony AI (NASDAQ:PONY) Shares Climb 7.9% - Time to Buy?

Key Points

• Pony AI shares rose 7.9% to about $5.41 in midday trading, although volume was 75% below the average session level.
• Analyst sentiment is generally positive: seven analysts rate the stock Buy, two Hold and one Sell, resulting in a “Moderate Buy” consensus and an average price target of $19.57.
• Insiders have been net sellers, with executives selling 41,700 shares worth approximately $296,070 over the past 90 days; the stock also trades below its 50-day and 200-day moving averages.

Pony AI Inc. - Sponsored ADR (NASDAQ:PONY - Get Free Report) shares were up 7.9% during mid-day trading on Tuesday. The company traded as high as $5.36 and last traded at $5.4050. 1,062,916 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 4,214,279 shares. The stock had previously closed at $5.01.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Weiss Ratings reiterated a "sell (e+)" rating on shares of Pony AI in a research note on Tuesday, September 8th. Jefferies Financial Group restated a "buy" rating on shares of Pony AI in a research report on Tuesday, August 18th. BNP Paribas Exane upgraded shares of Pony AI from a "neutral" rating to an "outperform" rating in a research report on Thursday, August 20th. Finally, Bank of America lowered their price objective on shares of Pony AI from $19.00 to $17.00 and set a "buy" rating on the stock in a research note on Tuesday, August 18th. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Pony AI presently has an average rating of "Moderate Buy" and an average target price of $19.57.

Pony AI Price Performance

The stock has a market cap of $2.37 billion, a price-to-earnings ratio of -15.13 and a beta of 3.89. The business has a 50-day simple moving average of $6.87 and a two-hundred day simple moving average of $7.99.

Insider Buying and Selling at Pony AI

In other Pony AI news, CFO Haojun Wang sold 13,751 shares of the stock in a transaction that occurred on Monday, September 28th. The shares were 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 of the company's stock, valued at approximately $10,390,608.60. This represents a 0.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Ning Zhang sold 15,524 shares of Pony AI stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $7.10, for a total value of $110,220.40. Following the completion of the sale, the vice president owned 645,835 shares of the company's stock, valued at approximately $4,585,428.50. The trade was a 2.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 41,700 shares of company stock worth $296,070.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Vontobel Holding Ltd. purchased a new stake in Pony AI during the third quarter valued at $178,000. Green Alpha Advisors LLC boosted its holdings in Pony AI by 6.9% during the 3rd quarter. Green Alpha Advisors LLC now owns 44,330 shares of the company's stock valued at $290,000 after acquiring an additional 2,846 shares during the period. Altar Rock LLC bought a new position in shares of Pony AI during the 2nd quarter worth $158,000. Nykredit A S purchased a new stake in shares of Pony AI during the 2nd quarter worth $74,000. Finally, Corient Private Wealth LP purchased a new position in shares of Pony AI in the 2nd quarter valued at approximately $89,000.

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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