Pony AI (NASDAQ:PONY) Cut to “Sell” at Wall Street Zen

Pony AI (NASDAQ:PONY) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Several other research firms also recently issued reports on PONY. Jefferies Financial Group assumed coverage on shares of Pony AI in a research note on Friday, October 10th. They set a “buy” rating on the stock. Citigroup dropped their target price on Pony AI from $29.00 to $24.50 and set a “buy” rating on the stock in a research report on Friday, November 7th. Barclays started coverage on Pony AI in a research note on Tuesday. They issued an “equal weight” rating and a $15.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Pony AI in a report on Wednesday, October 8th. Finally, Macquarie began coverage on Pony AI in a research report on Monday, December 15th. They issued an “outperform” rating and a $29.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.87.

Pony AI Stock Up 11.8%

PONY opened at $15.94 on Friday. The firm’s 50 day moving average is $15.78 and its 200-day moving average is $15.49. Pony AI has a 52-week low of $4.11 and a 52-week high of $24.92. The firm has a market capitalization of $6.14 billion and a P/E ratio of -11.30.

Institutional Trading of Pony AI

A number of institutional investors and hedge funds have recently modified their holdings of PONY. FNY Investment Advisers LLC acquired a new position in shares of Pony AI in the 3rd quarter valued at about $50,000. Cantor Fitzgerald L. P. acquired a new position in Pony AI in the third quarter valued at approximately $372,000. Carrhae Capital LLP bought a new position in shares of Pony AI during the third quarter valued at approximately $6,686,000. Advisory Services Network LLC bought a new position in shares of Pony AI during the third quarter valued at approximately $155,000. Finally, Armistice Capital LLC acquired a new stake in shares of Pony AI during the 3rd quarter worth approximately $5,607,000.

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.