Pony AI (NASDAQ:PONY) Stock Price Down 6.2% – Here’s What Happened

Shares of Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) fell 6.2% on Friday . The company traded as low as $14.66 and last traded at $14.71. 925,246 shares traded hands during trading, a decline of 87% from the average session volume of 7,319,959 shares. The stock had previously closed at $15.68.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PONY shares. Jefferies Financial Group started coverage on shares of Pony AI in a research report on Friday, October 10th. They issued a “buy” rating on the stock. Wall Street Zen cut Pony AI from a “hold” rating to a “sell” rating in a research report on Saturday, December 20th. Barclays began coverage on shares of Pony AI in a report on Tuesday, December 16th. They set an “equal weight” rating and a $15.00 price objective on the stock. Citigroup reduced their price target on shares of Pony AI from $29.00 to $24.50 and set a “buy” rating for the company in a research report on Friday, November 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Pony AI in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Pony AI currently has an average rating of “Moderate Buy” and a consensus price target of $21.70.

Pony AI Trading Down 7.7%

The company has a market cap of $5.58 billion and a price-to-earnings ratio of -10.27. The company’s 50 day moving average price is $15.35 and its 200 day moving average price is $15.56.

Institutional Investors Weigh In On Pony AI

Several institutional investors have recently made changes to their positions in PONY. Goldman Sachs Group Inc. purchased a new stake in shares of Pony AI in the first quarter valued at about $139,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Pony AI during the 2nd quarter valued at $1,693,000. Baader Bank Aktiengesellschaft increased its position in Pony AI by 112.6% during the second quarter. Baader Bank Aktiengesellschaft now owns 274,720 shares of the company’s stock worth $3,570,000 after buying an additional 145,525 shares in the last quarter. Eschler Asset Management LLP purchased a new stake in shares of Pony AI in the second quarter valued at $4,245,000. Finally, Lingotto Investment Management LLP increased its position in Pony AI by 55.6% during the 2nd quarter. Lingotto Investment Management LLP now owns 2,379,892 shares of the company’s stock worth $31,415,000 after purchasing an additional 850,000 shares in the last quarter.

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.