Pony AI (NASDAQ:PONY) Stock Price Up 7.1% – Should You Buy?

Shares of Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) rose 7.1% during trading on Friday. The company traded as high as $6.03 and last traded at $6.1680. Approximately 1,076,471 shares changed hands during trading, a decline of 74% from the average daily volume of 4,220,936 shares. The stock had previously closed at $5.76.

Analyst Upgrades and Downgrades

PONY has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Pony AI in a report on Tuesday, September 8th. Bank of America lowered their price target on shares of Pony AI from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, August 18th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Pony AI in a report on Tuesday, August 18th. Finally, BNP Paribas Exane upgraded shares of Pony AI from a “neutral” rating to an “outperform” rating in a report on Thursday, August 20th. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Pony AI presently has an average rating of “Moderate Buy” and an average price target of $19.57.

Pony AI Stock Up 5.1%

The company has a fifty day simple moving average of $7.24 and a 200-day simple moving average of $8.23. The firm has a market cap of $2.63 billion, a P/E ratio of -16.82 and a beta of 3.89.

Insider Buying and Selling at Pony AI

In related news, VP Luyi Mo sold 12,425 shares of the business’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 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. The trade was a 3.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Haojun Wang sold 13,751 shares of the company’s stock in a transaction on Monday, September 28th. The stock was sold at an average price of $7.10, for a total value of $97,632.10. Following the sale, the chief financial officer owned 1,463,466 shares of the company’s stock, valued at $10,390,608.60. This trade represents a 0.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 41,700 shares of company stock valued at $296,070 in the last quarter.

Institutional Investors Weigh In On Pony AI

Institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. acquired a new stake in shares of Pony AI in the first quarter valued at approximately $30,000. Nykredit A S acquired a new stake in shares of Pony AI in the second quarter valued at $74,000. Havemeyer Place LP purchased a new position in shares of Pony AI in the fourth quarter valued at approximately $171,000. Greenleaf Trust acquired a new position in Pony AI during the 2nd quarter worth $88,000. Finally, Corient Private Wealth LP acquired a new stake in Pony AI in the second quarter valued at approximately $89,000.

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.