Pony AI (NASDAQ:PONY) Shares Up 7.4% – Here’s What Happened

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY)’s share price was up 7.4% during trading on Wednesday . The company traded as high as $16.93 and last traded at $16.88. Approximately 1,447,638 shares traded hands during trading, a decline of 67% from the average daily volume of 4,400,055 shares. The stock had previously closed at $15.72.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PONY shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Pony AI in a research report on Wednesday, October 8th. Citigroup restated a “buy” rating on shares of Pony AI in a research report on Thursday. Jefferies Financial Group started coverage on Pony AI in a research report on Friday, October 10th. They set a “buy” rating on the stock. Macquarie began coverage on Pony AI in a report on Monday, December 15th. They issued an “outperform” rating and a $29.00 price objective for the company. Finally, Wall Street Zen downgraded Pony AI from a “hold” rating to a “sell” rating in a research note on Saturday, December 20th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.10.

Pony AI Price Performance

The stock has a market capitalization of $6.28 billion, a PE ratio of -11.56 and a beta of 6.42. The company’s 50 day moving average price is $14.56 and its two-hundred day moving average price is $15.89.

Institutional Investors Weigh In On Pony AI

A number of large investors have recently made changes to their positions in the stock. Banque Cantonale Vaudoise grew its holdings in Pony AI by 71.2% in the 3rd quarter. Banque Cantonale Vaudoise now owns 3,662 shares of the company’s stock valued at $82,000 after buying an additional 1,523 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Pony AI by 704.8% in the third quarter. Jones Financial Companies Lllp now owns 2,197 shares of the company’s stock valued at $47,000 after purchasing an additional 1,924 shares during the period. CWM LLC purchased a new stake in shares of Pony AI in the second quarter valued at about $28,000. FNY Investment Advisers LLC acquired a new stake in Pony AI during the third quarter worth about $50,000. Finally, SBI Securities Co. Ltd. raised its stake in Pony AI by 29.7% during the third quarter. SBI Securities Co. Ltd. now owns 19,875 shares of the company’s stock worth $447,000 after purchasing an additional 4,546 shares during the period.

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.