Pony AI (NASDAQ:PONY) Stock Rated Overweight in New Coverage at Morgan Stanley

Morgan Stanley began coverage on shares of Pony AI (NASDAQ:PONY) in a research report issued on Tuesday, Briefing.com reports. The firm set an “overweight” rating and a $10.00 price target on the stock. Morgan Stanley‘s price target indicates a potential upside of 116.45% from the stock’s current price.

A number of other equities research analysts have also issued reports on the company. BNP Paribas Exane raised Pony AI from a “neutral” rating to an “outperform” rating in a research report on Thursday, August 20th. Weiss Ratings reissued a “sell (e+)” rating on shares of Pony AI in a research report on Tuesday, September 8th. Bank of America lowered their price objective on Pony AI from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, August 18th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Pony AI in a research note on Tuesday, August 18th. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.51.

Pony AI Price Performance

PONY opened at $4.62 on Tuesday. The business has a fifty day moving average price of $6.27 and a 200 day moving average price of $9.25. Pony AI has a 12 month low of $4.54 and a 12 month high of $18.80. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of -12.83 and a beta of 3.89.

Insider Activity

In other news, VP Luyi Mo sold 12,425 shares of the firm’s stock in a transaction on Monday, September 28th. The shares were sold at an average price of $7.10, for a total value of $88,217.50. Following the sale, the vice president directly owned 362,737 shares in the company, valued at approximately $2,575,432.70. This trade represents a 3.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Haojun Wang sold 13,751 shares of Pony AI stock in a transaction on Monday, September 28th. The stock was sold at an average price of $7.10, for a total transaction of $97,632.10. Following the sale, the chief financial officer directly owned 1,463,466 shares of the company’s stock, valued at approximately $10,390,608.60. This trade represents a 0.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 41,700 shares of company stock worth $296,070.

Institutional Trading of Pony AI

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. TMT General Partner Ltd lifted its holdings in Pony AI by 262.1% during 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. Robeco Schweiz AG acquired a new position in shares of Pony AI during the 3rd quarter worth about $9,888,000. Headlands Technologies LLC acquired a new position in shares of Pony AI during the 2nd quarter worth about $1,634,000. Quantinno Capital Management LP acquired a new position in shares of Pony AI during the 1st quarter worth about $1,042,000. Finally, PensionDanmark Pensionsforsikringsaktieselskab increased its holdings in shares of Pony AI by 93.3% in the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 145,000 shares of the company’s stock valued at $1,008,000 after acquiring an additional 70,000 shares during the last quarter.

About Pony AI

Pony AI Inc develops and commercializes autonomous driving technologies for passenger mobility, freight transportation and other applications. Its proprietary Virtual Driver platform integrates software, hardware and services, while its PonyWorld world model supports the development and deployment of its autonomous driving systems. The company operates three primary business lines: Robotaxi services, Robotruck services and Intelligent Solutions, which include autonomous driving domain controllers and other technology products and services for automakers and industry customers.

Founded in late 2016 in Fremont, California, by Jun “James” Peng and Tiancheng Lou, Pony.ai is headquartered in Guangzhou, China.