Pony AI (NASDAQ:PONY) Now Covered by HSBC

HSBC assumed coverage on shares of Pony AI (NASDAQ:PONY) in a report published on Tuesday morning, Marketbeat.com reports. The firm issued a buy rating and a $16.60 price objective on the stock.

PONY has been the topic of several other reports. Barclays reduced their price objective on Pony AI from $15.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Pony AI in a report on Thursday, January 22nd. Wall Street Zen cut Pony AI from a “hold” rating to a “sell” rating in a report on Monday. Zacks Research downgraded Pony AI from a “hold” rating to a “strong sell” rating in a report on Thursday, March 26th. Finally, Macquarie Infrastructure began coverage on shares of Pony AI in a research report on Monday, December 15th. They issued an “outperform” rating and a $29.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.23.

Pony AI Stock Up 10.5%

Pony AI stock opened at $9.44 on Tuesday. 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 $3.64 billion, a PE ratio of -26.22 and a beta of 6.26. The firm’s 50-day simple moving average is $13.13 and its 200 day simple moving average is $15.63.

Hedge Funds Weigh In On Pony AI

A number of hedge funds have recently added to or reduced their stakes in PONY. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Pony AI by 268.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 836,728 shares of the company’s stock valued at $18,818,000 after buying an additional 609,666 shares during the period. ARK Investment Management LLC acquired a new position in Pony AI in the third quarter valued at approximately $28,623,000. Money Concepts Capital Corp bought a new position in shares of Pony AI during the third quarter valued at approximately $2,062,000. Carrhae Capital LLP bought a new position in shares of Pony AI during the third quarter valued at approximately $6,686,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Pony AI during the 3rd quarter worth approximately $9,509,000.

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.