Pony AI (NASDAQ:PONY) Hits New 52-Week Low – Should You Sell?

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) hit a new 52-week low during mid-day trading on Thursday. The company traded as low as $4.42 and last traded at $4.46, with a volume of 459,776 shares. The stock had previously closed at $4.75.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Bank of America cut their price target on Pony AI from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, August 18th. Morgan Stanley assumed coverage on Pony AI in a report on Tuesday. They issued an “overweight” rating and a $10.00 price objective on the stock. BNP Paribas Exane raised Pony AI from a “neutral” rating to an “outperform” rating in a research note on Thursday, August 20th. Jefferies Financial Group reiterated a “buy” rating on shares of Pony AI in a research report on Tuesday, August 18th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Pony AI in a research note on Tuesday, September 8th. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $17.76.

Pony AI Stock Performance

The company has a 50 day moving average of $6.04 and a 200 day moving average of $9.03. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of -13.19 and a beta of 4.04.

Insider Buying and Selling

In other Pony AI news, VP Luyi Mo sold 12,425 shares of the 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 approximately $2,575,432.70. This represents a 3.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Ning Zhang sold 15,524 shares of the firm’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 $110,220.40. Following the completion of the transaction, the vice president directly owned 645,835 shares in the company, valued at $4,585,428.50. This trade represents a 2.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 41,700 shares of company stock worth $296,070.

Institutional Investors Weigh In On Pony AI

A number of large investors have recently made changes to their positions in the stock. Money Concepts Capital Corp lifted its position in Pony AI by 16.7% during the third quarter. Money Concepts Capital Corp now owns 143,963 shares of the company’s stock worth $942,000 after buying an additional 20,566 shares in the last quarter. Eurizon Capital SGR S.p.A. increased its stake in shares of Pony AI by 3.2% in the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 2,823,599 shares of the company’s stock worth $18,466,000 after acquiring an additional 87,702 shares during the last quarter. M&G PLC raised its holdings in shares of Pony AI by 11.7% during the 3rd quarter. M&G PLC now owns 2,717,398 shares of the company’s stock worth $19,022,000 after acquiring an additional 284,629 shares during the period. Verus Capital Partners LLC purchased a new position in shares of Pony AI during the 3rd quarter worth $204,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Pony AI in the third quarter valued at about $361,000.

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.