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

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY)’s share price hit a new 52-week low during mid-day trading on Thursday. The company traded as low as $4.84 and last traded at $4.8760, with a volume of 54,187 shares changing hands. The stock had previously closed at $5.04.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PONY. Bank of America reduced their price target on shares of Pony AI from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, August 18th. Jefferies Financial Group reissued a “buy” rating on shares of Pony AI in a report on Tuesday, August 18th. BNP Paribas Exane raised Pony AI from a “neutral” rating to an “outperform” rating in a report on Thursday, August 20th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Pony AI in a report on Tuesday, September 8th. Seven equities research 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.57.

Pony AI Price Performance

The firm’s fifty day moving average is $6.74 and its 200 day moving average is $7.94. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of -13.56 and a beta of 3.89.

Insider Buying and Selling at Pony AI

In related news, CFO Haojun Wang sold 13,751 shares of Pony AI stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $7.10, for a total value of $97,632.10. Following the completion of the sale, the chief financial officer directly owned 1,463,466 shares in the company, valued at $10,390,608.60. This trade represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Luyi Mo sold 12,425 shares of the business’s stock in a transaction that occurred 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 sale, the vice president directly owned 362,737 shares of the company’s stock, valued at approximately $2,575,432.70. This trade represents a 3.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 41,700 shares of company stock valued at $296,070 in the last quarter.

Hedge Funds Weigh In On Pony AI

Institutional investors have recently modified their holdings of the stock. Blue Trust Inc. bought a new stake in Pony AI in the first quarter valued at approximately $30,000. Nykredit A S bought a new stake in Pony AI in the 2nd quarter valued at approximately $74,000. Greenleaf Trust acquired a new position in Pony AI during the second quarter worth $88,000. Corient Private Wealth LP bought a new stake in Pony AI during the 2nd quarter worth about $89,000. Finally, First Trust Advisors LP lifted its position in Pony AI by 32.3% during the 1st quarter. First Trust Advisors LP now owns 13,264 shares of the company’s stock worth $125,000 after buying an additional 3,236 shares in the last quarter.

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.