Pony AI (NASDAQ:PONY) Research Coverage Started at Morgan Stanley

Morgan Stanley initiated coverage on shares of Pony AI (NASDAQ:PONY) in a research note released on Tuesday morning, MarketBeat reports. The firm issued an overweight rating and a $10.00 price objective on the stock.

Other equities analysts have also recently issued reports about the company. BNP Paribas Exane raised Pony AI from a “neutral” rating to an “outperform” rating in a report on Thursday, August 20th. Weiss Ratings reissued a “sell (e+)” rating on shares of Pony AI in a report on Tuesday, September 8th. Jefferies Financial Group reissued a “buy” rating on shares of Pony AI in a report on Tuesday, August 18th. Finally, Bank of America reduced their price target on Pony AI from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, August 18th. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $18.51.

Pony AI Price Performance

Shares of Pony AI stock opened at $4.47 on Tuesday. Pony AI has a 1-year low of $4.27 and a 1-year high of $17.67. The company’s fifty day simple moving average is $6.09 and its 200-day simple moving average is $9.08. The stock has a market capitalization of $1.95 billion, a PE ratio of -12.42 and a beta of 4.04.

Insider Activity at Pony AI

In other Pony AI news, VP Ning Zhang sold 15,524 shares of the company’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 sale, the vice president directly owned 645,835 shares in the company, valued at $4,585,428.50. This represents a 2.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Luyi Mo sold 12,425 shares of Pony AI stock in a transaction 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 transaction, the vice president directly owned 362,737 shares of the company’s stock, valued at $2,575,432.70. The trade was a 3.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 41,700 shares of company stock valued at $296,070.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Nykredit A S purchased a new position in Pony AI during the 2nd quarter valued at $74,000. Greenleaf Trust bought a new stake in shares of Pony AI during the second quarter worth $88,000. Corient Private Wealth LP purchased a new stake in shares of Pony AI during the second quarter valued at $89,000. First Trust Advisors LP boosted its stake in shares of Pony AI by 32.3% during the first quarter. First Trust Advisors LP now owns 13,264 shares of the company’s stock valued at $125,000 after purchasing an additional 3,236 shares during the period. Finally, AXQ Capital LP bought a new position in shares of Pony AI in the second quarter worth about $134,000.

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.