Weiss Ratings Reiterates Sell (D-) Rating for Pony AI (NASDAQ:PONY)

Pony AI (NASDAQ:PONY)‘s stock had its “sell (d-)” rating reissued by analysts at Weiss Ratings in a report released on Saturday,Weiss Ratings reports.

A number of other brokerages also recently weighed in on PONY. UBS Group started coverage on shares of Pony AI in a report on Monday, August 4th. They issued a “buy” rating and a $20.00 price target for the company. Daiwa Capital Markets began coverage on shares of Pony AI in a report on Sunday, July 27th. They issued an “outperform” rating for the company. Wall Street Zen raised shares of Pony AI from a “strong sell” rating to a “hold” rating in a report on Saturday, August 16th. Jefferies Financial Group began coverage on shares of Pony AI in a report on Friday, October 10th. They set a “buy” rating for the company. Finally, Citigroup began coverage on shares of Pony AI in a report on Monday, September 29th. They set a “buy” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.40.

Pony AI Price Performance

Shares of Pony AI stock opened at $18.46 on Friday. Pony AI has a fifty-two week low of $4.11 and a fifty-two week high of $24.92. The firm has a fifty day moving average price of $18.25 and a two-hundred day moving average price of $14.78. The company has a market cap of $6.47 billion and a PE ratio of -14.77.

Pony AI (NASDAQ:PONY) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.14) earnings per share for the quarter. The business had revenue of $21.45 million for the quarter. Analysts expect that Pony AI will post -0.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pony AI

Hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Pony AI by 3,136.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 632,791 shares of the company’s stock worth $5,581,000 after purchasing an additional 613,238 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in shares of Pony AI in the first quarter worth about $139,000. Prudential PLC acquired a new position in shares of Pony AI during the first quarter worth approximately $334,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Pony AI during the first quarter valued at approximately $293,000. Finally, Baader Bank Aktiengesellschaft increased its holdings in shares of Pony AI by 112.6% in the second quarter. Baader Bank Aktiengesellschaft now owns 274,720 shares of the company’s stock valued at $3,570,000 after purchasing an additional 145,525 shares in the last quarter.

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.