Pony AI (NASDAQ:PONY) Given New $10.00 Price Target at Barclays

Pony AI (NASDAQ:PONY) had its price objective trimmed by Barclays from $15.00 to $10.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

PONY has been the topic of several other research reports. BNP Paribas Exane assumed coverage on Pony AI in a report on Thursday, March 26th. They set a “neutral” rating and a $12.50 price objective on the stock. Wall Street Zen downgraded 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 for the company. Zacks Research lowered Pony AI from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 26th. Finally, Citigroup reiterated a “buy” rating on shares of Pony AI in a research note on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Pony AI has an average rating of “Moderate Buy” and a consensus target price of $19.67.

Pony AI Price Performance

Shares of NASDAQ:PONY opened at $8.54 on Monday. Pony AI has a 12 month low of $4.11 and a 12 month high of $24.92. The firm has a market capitalization of $3.29 billion, a P/E ratio of -23.72 and a beta of 6.24. The company’s fifty day moving average price is $13.25 and its 200 day moving average price is $15.67.

Institutional Investors Weigh In On Pony AI

Institutional investors and hedge funds have recently made changes to their positions in the business. Virtu Financial LLC boosted its stake in shares of Pony AI by 92.0% during the fourth quarter. Virtu Financial LLC now owns 50,738 shares of the company’s stock worth $736,000 after buying an additional 24,316 shares during the period. Invesco Ltd. increased its position in Pony AI by 340.9% in the 4th quarter. Invesco Ltd. now owns 68,152 shares of the company’s stock valued at $988,000 after acquiring an additional 52,694 shares during the period. Yiheng Capital Management L.P. raised its stake in Pony AI by 226.1% during the 4th quarter. Yiheng Capital Management L.P. now owns 653,215 shares of the company’s stock valued at $9,472,000 after acquiring an additional 452,915 shares during the last quarter. Wellington Management Group LLP raised its stake in Pony AI by 31.0% during the 4th quarter. Wellington Management Group LLP now owns 2,840,863 shares of the company’s stock valued at $41,193,000 after acquiring an additional 671,606 shares during the last quarter. Finally, OLD Mission Capital LLC acquired a new stake in Pony AI during the 4th quarter worth approximately $5,609,000.

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.