Shares of Pony AI Inc. – Sponsored ADR (NASDAQ:PONY – Get Free Report) shot up 5.7% during trading on Wednesday . The stock traded as high as $6.95 and last traded at $6.9550. Approximately 672,838 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 4,426,389 shares. The stock had previously closed at $6.58.
Analyst Ratings Changes
PONY has been the subject of a number of research analyst reports. BNP Paribas Exane initiated coverage on shares of Pony AI in a report on Thursday, March 26th. They issued a “neutral” rating and a $12.50 target price for the company. HSBC initiated coverage on Pony AI in a research note on Tuesday, March 31st. They set a “buy” rating and a $16.60 price target on the stock. Zacks Research upgraded Pony AI from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Wall Street Zen downgraded Pony AI from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Finally, Weiss Ratings lowered Pony AI from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.95.
Get Our Latest Stock Report on PONY
Pony AI Stock Up 2.5%
Pony AI (NASDAQ:PONY – Get Free Report) last released its earnings results on Tuesday, May 26th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.03. The company 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%. As a group, sell-side analysts expect that Pony AI Inc. – Sponsored ADR will post -0.67 earnings per share for the current year.
Insider Activity
In related news, VP Ning Zhang sold 17,347 shares of Pony AI stock in a transaction on Friday, June 26th. The stock was sold at an average price of $6.86, for a total value of $119,000.42. Following the completion of the transaction, the vice president directly owned 630,109 shares in the company, valued at approximately $4,322,547.74. This trade represents a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Haojun Wang sold 13,751 shares of the business’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $6.86, for a total value of $94,331.86. Following the transaction, the chief financial officer directly owned 1,442,504 shares of the company’s stock, valued at $9,895,577.44. The trade was a 0.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 45,558 shares of company stock worth $312,528.
Hedge Funds Weigh In On Pony AI
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. TMT General Partner Ltd increased its position in shares of Pony AI by 262.1% in the 1st quarter. TMT General Partner Ltd now owns 6,942,135 shares of the company’s stock valued at $65,534,000 after purchasing an additional 5,024,721 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Pony AI during the 3rd quarter worth $89,174,000. Aspex Management HK Ltd lifted its position in shares of Pony AI by 728.1% during the 3rd quarter. Aspex Management HK Ltd now owns 4,140,447 shares of the company’s stock worth $93,119,000 after purchasing an additional 3,640,447 shares during the last quarter. Tiger Global Management LLC grew its stake in shares of Pony AI by 683.8% during the fourth quarter. Tiger Global Management LLC now owns 2,900,000 shares of the company’s stock worth $42,050,000 after purchasing an additional 2,530,000 shares in the last quarter. Finally, Ghisallo Capital Management LLC acquired a new position in shares of Pony AI during the third quarter worth $53,076,000.
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.
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