Pony AI (NASDAQ:PONY) Stock Price Up 7.1% - Time to Buy?

Key Points

• Pony AI shares rose 7.1% to $6.168 in midday trading, although volume was 74% below the average session level.
• Analyst sentiment remains cautiously positive, with a consensus “Moderate Buy” rating from MarketBeat and an average price target of $19.57; ratings include seven Buys, two Holds and one Sell.
• The stock trades below its 50-day and 200-day moving averages, while insiders sold 41,700 shares worth approximately $296,070 over the past 90 days.

Pony AI Inc. - Sponsored ADR (NASDAQ:PONY - Get Free Report) shares were up 7.1% during mid-day trading on Friday. The stock traded as high as $6.03 and last traded at $6.1680. Approximately 1,076,471 shares traded hands during trading, a decline of 74% from the average session volume of 4,220,936 shares. The stock had previously closed at $5.76.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Jefferies Financial Group reaffirmed a "buy" rating on shares of Pony AI in a research report on Tuesday, August 18th. BNP Paribas Exane raised shares of Pony AI from a "neutral" rating to an "outperform" rating in a research report on Thursday, August 20th. Weiss Ratings restated a "sell (e+)" rating on shares of Pony AI in a research note on Tuesday, September 8th. Finally, Bank of America dropped their price target on Pony AI from $19.00 to $17.00 and set a "buy" rating on the stock in a research report on Tuesday, August 18th. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.57.

Pony AI Price Performance

The business has a 50 day simple moving average of $7.24 and a 200 day simple moving average of $8.23. The stock has a market cap of $2.63 billion, a PE ratio of -16.82 and a beta of 3.89.

Insider Activity

In other Pony AI news, VP Luyi Mo sold 12,425 shares of the company's stock in a transaction on Monday, September 28th. The stock was sold at an average price of $7.10, for a total transaction of $88,217.50. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Ning Zhang sold 15,524 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 $110,220.40. Following the completion of the transaction, the vice president owned 645,835 shares in the company, valued at $4,585,428.50. This represents a 2.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 41,700 shares of company stock worth $296,070.

Hedge Funds Weigh In On Pony AI

A number of large investors have recently modified their holdings of the business. Green Alpha Advisors LLC grew its position in Pony AI by 6.9% during the third quarter. Green Alpha Advisors LLC now owns 44,330 shares of the company's stock worth $290,000 after buying an additional 2,846 shares in the last quarter. Blue Trust Inc. acquired a new stake in shares of Pony AI during the 1st quarter worth $30,000. First Trust Advisors LP increased its position in shares of Pony AI by 32.3% in the first quarter. First Trust Advisors LP now owns 13,264 shares of the company's stock worth $125,000 after purchasing an additional 3,236 shares during the period. Nykredit A S bought a new stake in Pony AI during the second quarter worth about $74,000. Finally, Havemeyer Place LP bought a new position in Pony AI in the fourth quarter valued at approximately $171,000.

Pony AI Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.