Pony AI (NASDAQ:PONY) Reaches New 12-Month Low – What’s Next?

Shares of Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) hit a new 52-week low on Friday . The company traded as low as $8.20 and last traded at $8.2550, with a volume of 2973985 shares changing hands. The stock had previously closed at $8.79.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. HSBC assumed coverage on Pony AI in a research report on Tuesday, March 31st. They set a “buy” rating and a $16.60 price objective for the company. BNP Paribas Exane assumed coverage on Pony AI in a research report on Thursday, March 26th. They set a “neutral” rating and a $12.50 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Pony AI in a research report on Thursday, January 22nd. Barclays dropped their price objective on Pony AI from $15.00 to $10.00 and set an “equal weight” rating for the company in a research report on Monday, March 30th. Finally, The Goldman Sachs Group set a $30.00 price objective on Pony AI in a research report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.58.

Pony AI Stock Performance

The stock has a market cap of $3.19 billion, a PE ratio of -23.03 and a beta of 4.10. The business has a 50-day moving average of $10.42 and a 200 day moving average of $13.33.

Institutional Trading of Pony AI

A number of hedge funds have recently added to or reduced their stakes in the business. Quantinno Capital Management LP acquired a new stake in Pony AI in the 1st quarter worth about $1,042,000. First Trust Advisors LP boosted its stake in Pony AI by 32.3% in the 1st quarter. First Trust Advisors LP now owns 13,264 shares of the company’s stock worth $125,000 after buying an additional 3,236 shares during the last quarter. TMT General Partner Ltd boosted its stake in Pony AI by 262.1% in the 1st quarter. TMT General Partner Ltd now owns 6,942,135 shares of the company’s stock worth $65,534,000 after buying an additional 5,024,721 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in Pony AI in the 1st quarter worth about $553,000. Finally, Money Concepts Capital Corp boosted its stake in Pony AI by 13.4% in the 1st quarter. Money Concepts Capital Corp now owns 106,065 shares of the company’s stock worth $1,001,000 after buying an additional 12,519 shares during the last quarter.

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.