Brokerages Set Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) Price Target at $19.94

Shares of Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) have earned an average recommendation of “Hold” from the nine ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $19.9429.

A number of research analysts have commented on PONY shares. Macquarie Infrastructure restated an “outperform” rating and issued a $24.00 target price on shares of Pony AI in a research note on Tuesday, May 26th. The Goldman Sachs Group set a $30.00 price target on Pony AI in a research note on Thursday, April 16th. Weiss Ratings lowered Pony AI from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 11th. Wall Street Zen cut Pony AI from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. Finally, Zacks Research raised Pony AI from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th.

Insider Buying and Selling at Pony AI

In other Pony AI news, VP Ning Zhang sold 17,347 shares of Pony AI stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $6.86, for a total value of $119,000.42. Following the completion of the sale, the vice president directly owned 630,109 shares in the company, valued at $4,322,547.74. The trade was a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Luyi Mo sold 14,460 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $6.86, for a total transaction of $99,195.60. Following the completion of the sale, the vice president directly owned 350,156 shares of the company’s stock, valued at $2,402,070.16. This represents a 3.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 45,558 shares of company stock worth $312,528 over the last ninety days.

Hedge Funds Weigh In On Pony AI

Hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. bought a new position in Pony AI during the first quarter valued at about $139,000. Invesco Ltd. acquired a new stake in shares of Pony AI in the second quarter worth about $206,000. First Trust Advisors LP bought a new stake in shares of Pony AI during the 2nd quarter worth about $276,000. Marshall Wace LLP boosted its stake in shares of Pony AI by 4.7% during the 2nd quarter. Marshall Wace LLP now owns 265,503 shares of the company’s stock worth $3,505,000 after acquiring an additional 11,986 shares in the last quarter. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Pony AI during the 2nd quarter valued at about $64,000.

Pony AI Stock Up 3.8%

Shares of NASDAQ:PONY opened at $8.46 on Friday. The firm has a fifty day moving average of $7.66 and a two-hundred day moving average of $10.20. Pony AI has a 12-month low of $6.36 and a 12-month high of $24.92. The firm has a market capitalization of $3.68 billion, a P/E ratio of -23.50 and a beta of 3.95.

Pony AI (NASDAQ:PONY) last posted its quarterly earnings results on Tuesday, May 26th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.03. Pony AI had a negative net margin of 128.22% and a negative return on equity of 17.13%. The business had revenue of $34.25 million for the quarter, compared to the consensus estimate of $22.30 million. Equities research analysts expect that Pony AI will post -0.67 earnings per share for the current fiscal year.

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.