Pony AI (NASDAQ:PONY) Shares Down 7.4% – What’s Next?

Shares of Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) dropped 7.4% on Friday . The stock traded as low as $12.21 and last traded at $12.59. Approximately 2,080,205 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 3,572,634 shares. The stock had previously closed at $13.59.

Wall Street Analysts Forecast Growth

PONY has been the topic of a number of recent research reports. Barclays assumed coverage on shares of Pony AI in a report on Tuesday, December 16th. They issued an “equal weight” rating and a $15.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Pony AI in a report on Thursday, January 22nd. Citigroup reissued a “buy” rating on shares of Pony AI in a report on Thursday, January 15th. Wall Street Zen raised Pony AI from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, CLSA began coverage on Pony AI in a research report on Friday, January 2nd. They set an “outperform” rating and a $22.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.10.

Pony AI Trading Down 8.2%

The company has a market cap of $4.81 billion, a price-to-earnings ratio of -8.85 and a beta of 6.26. The company’s 50 day moving average price is $14.83 and its 200 day moving average price is $16.03.

Hedge Funds Weigh In On Pony AI

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. HSG Holding Ltd purchased a new position in shares of Pony AI during the 2nd quarter worth approximately $78,184,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Pony AI in the third quarter worth $89,174,000. Aspex Management HK Ltd lifted its holdings in Pony AI by 728.1% in the third quarter. Aspex Management HK Ltd now owns 4,140,447 shares of the company’s stock valued at $93,119,000 after acquiring an additional 3,640,447 shares during the period. Tiger Global Management LLC lifted its holdings in Pony AI by 683.8% in the fourth quarter. Tiger Global Management LLC now owns 2,900,000 shares of the company’s stock valued at $42,050,000 after acquiring an additional 2,530,000 shares during the period. Finally, Ghisallo Capital Management LLC purchased a new stake in shares of Pony AI during the 3rd quarter worth $53,076,000.

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.