Barclays Upgrades Pony AI (NASDAQ:PONY) to Hold

Pony AI (NASDAQ:PONY) was upgraded by investment analysts at Barclays to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other research analysts also recently issued reports on PONY. Citigroup dropped their target price on shares of Pony AI from $29.00 to $24.50 and set a “buy” rating on the stock in a research report on Friday, November 7th. Jefferies Financial Group assumed coverage on Pony AI in a research note on Friday, October 10th. They issued a “buy” rating for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Pony AI in a research report on Wednesday, October 8th. Finally, Macquarie began coverage on Pony AI in a research note on Monday. They issued an “outperform” rating and a $29.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Pony AI currently has an average rating of “Moderate Buy” and an average price target of $20.87.

Pony AI Stock Performance

Shares of PONY stock opened at $14.70 on Tuesday. Pony AI has a fifty-two week low of $4.11 and a fifty-two week high of $24.92. The stock has a 50 day simple moving average of $16.03 and a two-hundred day simple moving average of $15.51. The company has a market cap of $5.66 billion and a P/E ratio of -10.43.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Cresset Asset Management LLC bought a new stake in Pony AI during the first quarter worth $441,000. Wellington Management Group LLP boosted its holdings in Pony AI by 47.8% during the 1st quarter. Wellington Management Group LLP now owns 1,991,811 shares of the company’s stock worth $17,568,000 after acquiring an additional 644,518 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ bought a new stake in shares of Pony AI in the 1st quarter worth $345,000. Goldman Sachs Group Inc. purchased a new stake in shares of Pony AI in the first quarter valued at about $139,000. Finally, Baader Bank Aktiengesellschaft lifted its position in shares of Pony AI by 112.6% during the second quarter. Baader Bank Aktiengesellschaft now owns 274,720 shares of the company’s stock valued at $3,570,000 after purchasing an additional 145,525 shares in the last quarter.

About Pony AI

Pony AI Inc, through its subsidiaries, engages in the autonomous mobility principally in the People’s Republic of China and the United States. The company provides robotruck services, such as transportation services to the logistics platforms. Pony AI Inc is based in Guangzhou, the People’s Republic of China.