Pony AI (NASDAQ:PONY) Trading Down 9.5% After Analyst Downgrade

Shares of Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) dropped 9.5% on Monday after Barclays lowered their price target on the stock from $15.00 to $10.00. Barclays currently has an equal weight rating on the stock. Pony AI traded as low as $8.25 and last traded at $8.2760. Approximately 5,369,992 shares changed hands during trading, an increase of 21% from the average daily volume of 4,454,788 shares. The stock had previously closed at $9.14.

Several other equities analysts also recently commented on the stock. Citigroup reiterated a “buy” rating on shares of Pony AI in a report on Thursday, January 15th. CLSA initiated coverage on Pony AI in a research report on Friday, January 2nd. They set an “outperform” rating and a $22.00 target price for the company. Wall Street Zen downgraded Pony AI from a “hold” rating to a “sell” rating in a report on Monday. Zacks Research lowered Pony AI from a “hold” rating to a “strong sell” rating in a research note on Thursday. Finally, BNP Paribas Exane began coverage on Pony AI in a research report on Thursday. They issued a “neutral” rating and a $12.50 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $19.67.

Institutional Trading of Pony AI

A number of large investors have recently modified their holdings of the company. HSG Holding Ltd purchased a new position in Pony AI during the 2nd quarter worth $78,184,000. Aspex Management HK Ltd grew its position in shares of Pony AI by 728.1% during the 3rd quarter. Aspex Management HK Ltd now owns 4,140,447 shares of the company’s stock worth $93,119,000 after buying an additional 3,640,447 shares in the last quarter. Lingotto Investment Management LLP increased its stake in shares of Pony AI by 72.6% during the fourth quarter. Lingotto Investment Management LLP now owns 4,107,512 shares of the company’s stock valued at $59,559,000 after buying an additional 1,727,620 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Pony AI during the third quarter valued at $89,174,000. Finally, Tiger Global Management LLC raised its holdings in shares of Pony AI by 683.8% in the fourth quarter. Tiger Global Management LLC now owns 2,900,000 shares of the company’s stock valued at $42,050,000 after acquiring an additional 2,530,000 shares in the last quarter.

Pony AI Stock Down 8.3%

The stock’s 50 day moving average is $13.40 and its two-hundred day moving average is $15.71. The company has a market capitalization of $3.23 billion, a PE ratio of -23.26 and a beta of 6.26.

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.