Pony AI (NASDAQ:PONY) Trading Down 6.8% – What’s Next?

Shares of Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) dropped 6.8% during trading on Thursday . The stock traded as low as $9.70 and last traded at $9.6650. Approximately 1,482,506 shares traded hands during trading, a decline of 67% from the average daily volume of 4,462,411 shares. The stock had previously closed at $10.37.

Analyst Ratings Changes

PONY has been the topic of several research analyst reports. Zacks Research upgraded shares of Pony AI from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Barclays dropped their target price 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. Wall Street Zen lowered shares of Pony AI from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. The Goldman Sachs Group set a $30.00 target price on shares of Pony AI in a research note on Thursday, April 16th. Finally, Macquarie Infrastructure reaffirmed an “outperform” rating and issued a $24.00 target price on shares of Pony AI in a research note on Tuesday, May 26th. One equities 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 assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.95.

Pony AI Stock Down 7.8%

The company has a market capitalization of $3.69 billion, a price-to-earnings ratio of -26.54 and a beta of 3.83. The stock’s fifty day moving average price is $9.78 and its 200-day moving average price is $12.62.

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

Institutional Trading of Pony AI

A number of hedge funds and other institutional investors have recently made changes to their positions in PONY. Goldman Sachs Group Inc. acquired a new stake in shares of Pony AI in the first quarter valued at approximately $139,000. Invesco Ltd. acquired a new stake in shares of Pony AI in the second quarter valued at approximately $206,000. First Trust Advisors LP acquired a new stake in shares of Pony AI in the second quarter valued at approximately $276,000. Marshall Wace LLP raised its holdings in shares of Pony AI by 4.7% in the second quarter. Marshall Wace LLP now owns 265,503 shares of the company’s stock valued at $3,505,000 after purchasing an additional 11,986 shares during the last quarter. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Pony AI in the second quarter valued at approximately $64,000.

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.