Pony AI (NASDAQ:PONY) Trading Down 9.5% After Analyst Downgrade

Shares of Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) dropped 9.5% during trading on Monday after Barclays lowered their price target on the stock from $15.00 to $10.00. Barclays currently has an equal weight rating on the stock. Pony AI traded as low as $8.25 and last traded at $8.2760. Approximately 5,369,992 shares were traded during trading, an increase of 21% from the average daily volume of 4,454,788 shares. The stock had previously closed at $9.14.

Other equities research analysts have also recently issued reports about the company. CLSA initiated coverage on Pony AI in a report on Friday, January 2nd. They issued an “outperform” rating and a $22.00 price objective on the stock. Wall Street Zen cut Pony AI from a “hold” rating to a “sell” rating in a report on Monday. Macquarie Infrastructure initiated 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Pony AI in a research report on Thursday, January 22nd. Finally, BNP Paribas Exane initiated coverage on Pony AI in a research note on Thursday, March 26th. They issued a “neutral” rating and a $12.50 price objective for the company. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.67.

Institutional Trading of Pony AI

Hedge funds have recently bought and sold shares of the business. HSG Holding Ltd acquired 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 stake in shares of Pony AI in the third quarter valued at approximately $89,174,000. Aspex Management HK Ltd increased its holdings in shares of 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 purchasing an additional 3,640,447 shares during the last quarter. Tiger Global Management LLC increased its holdings in shares of 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 purchasing an additional 2,530,000 shares during the last quarter. Finally, Ghisallo Capital Management LLC purchased a new position in Pony AI during the third quarter worth approximately $53,076,000.

Pony AI Price Performance

The stock has a 50 day simple moving average of $13.25 and a two-hundred day simple moving average of $15.67. The company has a market cap of $3.29 billion, a price-to-earnings ratio of -23.72 and a beta of 6.24.

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.