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

Shares of Pony AI Inc. (NASDAQ:PONY) gapped down before the market opened on Wednesday . The stock had previously closed at $21.35, but opened at $19.34. Pony AI shares last traded at $19.04, with a volume of 5,156,802 shares changing hands.

Pony AI Stock Performance

The company’s 50-day moving average is $10.81.

Pony AI (NASDAQ:PONY) last announced its earnings results on Tuesday, May 20th. The company reported ($0.12) earnings per share (EPS) for the quarter. The business had revenue of $13.98 million during the quarter. As a group, analysts predict that Pony AI Inc. will post -0.38 earnings per share for the current year.

Institutional Trading of Pony AI

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Toyota Motor Corp purchased a new stake in Pony AI in the fourth quarter valued at approximately $647,421,000. Ontario Teachers Pension Plan Board purchased a new stake in Pony AI in the fourth quarter valued at approximately $310,559,000. IDG China Venture Capital Fund IV Associates L.P. purchased a new stake in Pony AI in the fourth quarter valued at approximately $144,973,000. IDG China Capital Fund III Associates L.P. purchased a new stake in Pony AI in the fourth quarter valued at approximately $93,700,000. Finally, Aspex Management HK Ltd purchased a new stake in Pony AI in the fourth quarter valued at approximately $34,091,000.

About Pony AI

Pony AI Inc, through its subsidiaries, engages in the autonomous mobility principally in the People’s Republic of China and the United States. The company provides robotruck services, such as transportation services to the logistics platforms. Pony AI Inc is based in Guangzhou, the People’s Republic of China.