Pony AI (NASDAQ:PONY) Sets New 52-Week Low – What’s Next?

Shares of Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) reached a new 52-week low on Wednesday. The stock traded as low as $5.97 and last traded at $5.9750, with a volume of 442583 shares trading hands. The stock had previously closed at $6.13.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PONY. Bank of America cut their target price 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. Jefferies Financial Group reiterated a “buy” rating on shares of Pony AI in a research note on Tuesday, August 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of Pony AI in a research report on Tuesday, September 8th. Finally, BNP Paribas Exane upgraded shares of Pony AI from a “neutral” rating to an “outperform” rating in a research note on Thursday, August 20th. 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.57.

Pony AI Stock Performance

The company has a 50-day simple moving average of $7.24 and a 200-day simple moving average of $8.23. The company has a market cap of $2.50 billion, a price-to-earnings ratio of -16.00 and a beta of 3.89.

Insider Activity

In related news, VP Luyi Mo sold 12,425 shares of the firm’s stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $7.10, for a total value of $88,217.50. Following the completion of the sale, the vice president owned 362,737 shares in the company, valued at $2,575,432.70. This trade represents a 3.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 sale, the chief financial officer directly owned 1,463,466 shares in the company, valued at approximately $10,390,608.60. This represents a 0.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 41,700 shares of company stock worth $296,070 in the last 90 days.

Hedge Funds Weigh In On Pony AI

Several hedge funds have recently bought and sold shares of the company. TMT General Partner Ltd raised its stake in shares of Pony AI by 262.1% during the 1st quarter. TMT General Partner Ltd now owns 6,942,135 shares of the company’s stock worth $65,534,000 after buying an additional 5,024,721 shares during the last quarter. Keystone Investors PTE Ltd. boosted its position in shares of Pony AI by 202.0% in the 4th quarter. Keystone Investors PTE Ltd. now owns 668,658 shares of the company’s stock worth $9,696,000 after buying an additional 447,250 shares in the last quarter. Pictet Asset Management Holding SA acquired a new stake in Pony AI in the 1st quarter valued at about $3,144,000. Hel Ved Capital Management Ltd grew its stake in Pony AI by 47.5% in the 4th quarter. Hel Ved Capital Management Ltd now owns 778,879 shares of the company’s stock valued at $11,294,000 after acquiring an additional 250,900 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in Pony AI during the 2nd quarter valued at about $1,634,000.

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.