Pony AI (NASDAQ:PONY) Trading Down 6.2% – Should You Sell?

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) shares were down 6.2% on Friday . The company traded as low as $14.66 and last traded at $14.71. Approximately 925,246 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 7,319,959 shares. The stock had previously closed at $15.68.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Citigroup dropped their price target on Pony AI from $29.00 to $24.50 and set a “buy” rating for the company in a research report on Friday, November 7th. Wall Street Zen cut Pony AI from a “hold” rating to a “sell” rating in a report on Saturday, December 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Pony AI in a research note on Wednesday, October 8th. Jefferies Financial Group started coverage on Pony AI in a report on Friday, October 10th. They set a “buy” rating on the stock. Finally, Macquarie started coverage on shares of Pony AI in a report on Monday, December 15th. They issued an “outperform” rating and a $29.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Pony AI presently has a consensus rating of “Moderate Buy” and an average target price of $21.70.

Pony AI Trading Down 4.6%

The firm’s fifty day moving average is $15.26 and its 200-day moving average is $15.58. The stock has a market capitalization of $5.76 billion and a PE ratio of -10.61.

Hedge Funds Weigh In On Pony AI

Hedge funds have recently made changes to their positions in the stock. FNY Investment Advisers LLC acquired a new stake in Pony AI in the 3rd quarter valued at approximately $50,000. Cantor Fitzgerald L. P. purchased a new position in shares of Pony AI during the third quarter worth $372,000. Carrhae Capital LLP acquired a new stake in shares of Pony AI in the third quarter valued at $6,686,000. Advisory Services Network LLC purchased a new stake in shares of Pony AI in the 3rd quarter valued at $155,000. Finally, Armistice Capital LLC purchased a new stake in shares of Pony AI in the 3rd quarter valued at $5,607,000.

Pony AI Company Profile

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.