Pony AI (NASDAQ:PONY) Reaches New 52-Week Low – Here’s What Happened

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $6.63 and last traded at $6.6660, with a volume of 1070321 shares traded. The stock had previously closed at $7.00.

Analysts Set New Price Targets

A number of research analysts have weighed in on PONY shares. Macquarie Infrastructure reiterated an “outperform” rating and set a $24.00 price objective on shares of Pony AI in a research report on Tuesday, May 26th. BNP Paribas Exane started 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 began coverage on shares of Pony AI in a research note on Tuesday, March 31st. They set a “buy” rating and a $16.60 price target for the company. Barclays cut their price target on shares of Pony AI from $15.00 to $10.00 and set an “equal weight” rating on the stock in a report on Monday, March 30th. Finally, The Goldman Sachs Group set a $30.00 price objective on shares of Pony AI in a research report on Thursday, April 16th. One research 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 issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $19.95.

Pony AI Stock Performance

The stock has a fifty day moving average of $8.74 and a 200-day moving average of $11.70. The company has a market cap of $2.59 billion, a PE ratio of -18.65 and a beta of 4.04.

Pony AI (NASDAQ:PONY) last released its earnings results on Tuesday, May 26th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.03. Pony AI had a negative return on equity of 17.13% and a negative net margin of 128.22%.The business had revenue of $34.25 million for the quarter, compared to analyst estimates of $22.30 million. As a group, equities analysts anticipate that Pony AI Inc. – Sponsored ADR will post -0.67 EPS for the current fiscal year.

Insider Transactions at Pony AI

In related news, VP Luyi Mo sold 14,460 shares of the firm’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $6.86, for a total value of $99,195.60. Following the transaction, the vice president owned 350,156 shares of the company’s stock, valued at $2,402,070.16. This trade represents a 3.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Haojun Wang sold 13,751 shares of Pony AI stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $6.86, for a total transaction of $94,331.86. Following the sale, the chief financial officer 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 position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 45,558 shares of company stock worth $312,528.

Hedge Funds Weigh In On Pony AI

A number of institutional investors have recently modified their holdings of PONY. TMT General Partner Ltd raised its stake in shares of Pony AI by 262.1% during the first quarter. TMT General Partner Ltd now owns 6,942,135 shares of the company’s stock valued at $65,534,000 after acquiring an additional 5,024,721 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Pony AI in the third quarter worth approximately $89,174,000. Aspex Management HK Ltd increased its holdings in 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 period. Tiger Global Management LLC increased its holdings in Pony AI by 683.8% during the 4th 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 during the period. Finally, Ghisallo Capital Management LLC bought a new stake in Pony AI during the 3rd quarter valued at $53,076,000.

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.