Pony AI (NASDAQ:PONY) Shares Down 5% – Time to Sell?

Shares of Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) dropped 5% on Friday . The company traded as low as $11.98 and last traded at $12.02. Approximately 1,954,009 shares traded hands during trading, a decline of 73% from the average daily volume of 7,363,352 shares. The stock had previously closed at $12.65.

Pony AI Trading Down 6.5%

The stock has a fifty day moving average of $12.90 and a two-hundred day moving average of $13.11.

Pony AI (NASDAQ:PONY) last announced its earnings results on Tuesday, May 20th. The company reported ($0.12) earnings per share for the quarter. The firm had revenue of $13.98 million during the quarter. Equities analysts anticipate that Pony AI Inc. – Sponsored ADR will post -0.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pony AI

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pinpoint Asset Management Ltd acquired a new stake in Pony AI in the fourth quarter worth about $108,000. Keystone Investors PTE Ltd. acquired a new position in shares of Pony AI in the first quarter valued at approximately $120,000. Barclays PLC bought a new stake in shares of Pony AI during the fourth quarter worth $212,000. Goldman Sachs Group Inc. bought a new stake in shares of Pony AI during the first quarter worth $139,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Pony AI during the first quarter worth $229,000.

Pony AI Company Profile

Pony AI Inc, through its subsidiaries, engages in the autonomous mobility principally in the People’s Republic of China and the United States. The company provides robotruck services, such as transportation services to the logistics platforms. Pony AI Inc is based in Guangzhou, the People’s Republic of China.