Pony AI (NASDAQ:PONY) Trading Down 6.2% – Should You Sell?

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY)’s stock price was down 6.2% during trading on Tuesday . The stock traded as low as $16.10 and last traded at $16.30. Approximately 1,712,770 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 3,968,077 shares. The stock had previously closed at $17.37.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PONY. Barclays began coverage on Pony AI in a research note on Tuesday, December 16th. They issued an “equal weight” rating and a $15.00 target price for the company. Jefferies Financial Group started coverage on shares of Pony AI in a research note on Friday, October 10th. They set a “buy” rating on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Pony AI in a research note on Wednesday, October 8th. Citigroup cut their price objective on shares of Pony AI from $29.00 to $24.50 and set a “buy” rating on the stock in a report on Friday, November 7th. Finally, Macquarie assumed coverage on Pony AI in a research note on Monday, December 15th. They set an “outperform” rating and a $29.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $21.75.

Pony AI Trading Down 9.7%

The company has a market cap of $6.05 billion, a price-to-earnings ratio of -11.13 and a beta of 6.42. The firm has a 50-day moving average price of $14.56 and a 200 day moving average price of $15.87.

Institutional Investors Weigh In On Pony AI

Several institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC acquired a new position in Pony AI in the second quarter valued at approximately $28,000. Jones Financial Companies Lllp raised its position in shares of Pony AI by 704.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,197 shares of the company’s stock worth $47,000 after purchasing an additional 1,924 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Pony AI by 103.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,110 shares of the company’s stock worth $47,000 after purchasing an additional 62,748 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Pony AI in the 3rd quarter worth approximately $50,000. Finally, Daiwa Securities Group Inc. acquired a new position in Pony AI during the 2nd quarter valued at approximately $64,000.

Pony AI Company Profile

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.