Pony AI (NASDAQ:PONY) Shares Gap Up – Should You Buy?

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY)’s share price gapped up prior to trading on Monday . The stock had previously closed at $6.87, but opened at $7.28. Pony AI shares last traded at $6.9460, with a volume of 681,567 shares changing hands.

Wall Street Analyst Weigh In

Several analysts recently commented on PONY shares. The Goldman Sachs Group set a $30.00 price target on shares of Pony AI in a research report on Thursday, April 16th. HSBC initiated coverage on shares of Pony AI in a research report on Tuesday, March 31st. They set a “buy” rating and a $16.60 price objective on the stock. Barclays reduced their target price on shares of Pony AI from $15.00 to $10.00 and set an “equal weight” rating for the company in a report on Monday, March 30th. BNP Paribas Exane started coverage on shares of Pony AI in a research note on Thursday, March 26th. They set a “neutral” rating and a $12.50 target price for the company. Finally, Zacks Research raised Pony AI from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Pony AI presently has an average rating of “Moderate Buy” and a consensus target price of $19.95.

Pony AI Price Performance

The company has a 50 day moving average price of $9.06 and a 200 day moving average price of $11.91. The firm has a market cap of $2.68 billion, a PE ratio of -19.31 and a beta of 3.83.

Pony AI (NASDAQ:PONY) last posted its quarterly earnings data on Tuesday, May 26th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.03. The firm had revenue of $34.25 million for the quarter, compared to analyst estimates of $22.30 million. Pony AI had a negative net margin of 128.22% and a negative return on equity of 17.13%. On average, equities analysts anticipate that Pony AI Inc. – Sponsored ADR will post -0.67 earnings per share for the current fiscal year.

Insider Transactions at Pony AI

In other news, CFO Haojun Wang sold 13,751 shares of the firm’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $6.86, for a total value of $94,331.86. Following the completion of the sale, the chief financial officer owned 1,442,504 shares in the company, valued at approximately $9,895,577.44. This trade represents a 0.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Ning Zhang sold 17,347 shares of Pony AI stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $6.86, for a total transaction of $119,000.42. Following the completion of the sale, the vice president directly owned 630,109 shares in the company, valued at approximately $4,322,547.74. The trade was a 2.68% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 45,558 shares of company stock worth $312,528.

Institutional Investors Weigh In On Pony AI

Institutional investors have recently added to or reduced their stakes in the business. ARK Investment Management LLC purchased a new stake in shares of Pony AI in the third quarter valued at approximately $28,623,000. Carrhae Capital LLP acquired a new position in Pony AI during the third quarter worth $6,686,000. Ghisallo Capital Management LLC purchased a new position in Pony AI in the third quarter worth $53,076,000. Flight Deck Capital LP raised its position in Pony AI by 65.9% in the third quarter. Flight Deck Capital LP now owns 672,600 shares of the company’s stock worth $15,127,000 after acquiring an additional 267,200 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in Pony AI by 266.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,974,499 shares of the company’s stock valued at $28,630,000 after acquiring an additional 1,435,358 shares during the period.

About Pony AI

Pony.ai develops autonomous driving technologies for passenger and goods transportation. The company offers an end-to-end self-driving stack that combines perception, planning and control systems with proprietary hardware and software. Pony.ai’s solutions support robotaxi services and advanced driver-assistance system (ADAS) deployments across urban and suburban environments.

Founded in late 2016 by James Peng and Sean Gong, Pony.ai operates research and development centers in Fremont, California, as well as in Guangzhou and Beijing, China.