Pony AI (NASDAQ:PONY) Stock Price Down 4.3% – What’s Next?

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) dropped 4.3% on Wednesday. The stock traded as low as $5.05 and last traded at $5.0520. Approximately 597,239 shares were traded during trading, a decline of 86% from the average daily volume of 4,208,813 shares. The stock had previously closed at $5.28.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group reissued a “buy” rating on shares of Pony AI in a research report on Tuesday, August 18th. BNP Paribas Exane upgraded Pony AI from a “neutral” rating to an “outperform” rating in a report on Thursday, August 20th. Bank of America cut their price target on Pony AI from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, August 18th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Pony AI in a research note on Tuesday, September 8th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.57.

Pony AI Trading Down 3.7%

The firm has a market cap of $2.21 billion, a price-to-earnings ratio of -14.04 and a beta of 3.89. The firm’s 50-day moving average is $6.81 and its 200-day moving average is $7.97.

Insider Buying and Selling at Pony AI

In other Pony AI news, VP Luyi Mo sold 12,425 shares of the business’s stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $7.10, for a total transaction of $88,217.50. Following the completion of the sale, the vice president directly owned 362,737 shares of the company’s stock, valued at approximately $2,575,432.70. The trade was a 3.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Ning Zhang sold 15,524 shares of the company’s stock in a transaction on Monday, September 28th. The stock was sold at an average price of $7.10, for a total value of $110,220.40. Following the sale, the vice president owned 645,835 shares of the company’s stock, valued at $4,585,428.50. This trade represents a 2.35% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 41,700 shares of company stock valued at $296,070.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PONY. Blue Trust Inc. purchased a new position in shares of Pony AI in the 1st quarter worth about $30,000. Nykredit A S bought a new stake in shares of Pony AI in the second quarter valued at $74,000. Greenleaf Trust purchased a new position in shares of Pony AI during the 2nd quarter valued at $88,000. Corient Private Wealth LP bought a new position in shares of Pony AI during the 2nd quarter worth $89,000. Finally, First Trust Advisors LP raised its stake in Pony AI by 32.3% in the 1st quarter. First Trust Advisors LP now owns 13,264 shares of the company’s stock valued at $125,000 after acquiring an additional 3,236 shares during the period.

Pony AI Company Profile

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.