Pony AI (NASDAQ:PONY) Shares Gap Down – What’s Next?

Shares of Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) gapped down prior to trading on Monday . The stock had previously closed at $8.23, but opened at $7.90. Pony AI shares last traded at $7.5450, with a volume of 905,976 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PONY. Jefferies Financial Group reissued a “buy” rating on shares of Pony AI in a research note on Tuesday, August 18th. Wall Street Zen downgraded Pony AI from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. Macquarie Infrastructure reissued an “outperform” rating and set a $24.00 price target on shares of Pony AI in a research report on Tuesday, May 26th. Bank of America lowered their price objective on shares of Pony AI from $19.00 to $17.00 and set a “buy” rating for the company in a research note 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. Seven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Pony AI has a consensus rating of “Moderate Buy” and an average target price of $19.57.

Pony AI Price Performance

The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of -20.93 and a beta of 3.96. The firm has a 50 day moving average price of $7.49 and a 200-day moving average price of $9.74.

Pony AI (NASDAQ:PONY) last released its earnings results on Tuesday, May 26th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.03. Pony AI had a negative return on equity of 14.86% and a negative net margin of 118.47%.The firm had revenue of $34.25 million during the quarter, compared to analysts’ expectations of $22.30 million. Equities research analysts predict that Pony AI Inc. – Sponsored ADR will post -0.65 earnings per share for the current year.

Insider Activity

In other news, CFO Haojun Wang sold 13,751 shares of Pony AI stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $6.86, for a total value of $94,331.86. Following the completion of the transaction, the chief financial officer owned 1,442,504 shares in the company, valued at approximately $9,895,577.44. This trade represents a 0.94% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Luyi Mo sold 14,460 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $6.86, for a total transaction of $99,195.60. Following the sale, the vice president owned 350,156 shares in the company, valued at $2,402,070.16. The trade was a 3.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 45,558 shares of company stock worth $312,528.

Institutional Investors Weigh In On Pony AI

A number of large investors have recently modified their holdings of PONY. TMT General Partner Ltd lifted its holdings in Pony AI by 262.1% during the 1st quarter. TMT General Partner Ltd now owns 6,942,135 shares of the company’s stock worth $65,534,000 after buying an additional 5,024,721 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Pony AI in the 3rd quarter valued at about $89,174,000. Tiger Global Management LLC raised its position in shares of 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 acquiring an additional 2,530,000 shares in the last quarter. FIL Ltd raised its position in shares of Pony AI by 466.9% during the 4th quarter. FIL Ltd now owns 2,284,012 shares of the company’s stock worth $33,118,000 after acquiring an additional 1,881,128 shares in the last quarter. Finally, Marshall Wace LLP lifted its stake in Pony AI by 239.6% during the fourth quarter. Marshall Wace LLP now owns 2,502,711 shares of the company’s stock worth $36,289,000 after purchasing an additional 1,765,718 shares during the last quarter.

About Pony AI

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.