Wall Street Zen Downgrades Pony AI (NASDAQ:PONY) to Sell

Pony AI (NASDAQ:PONY) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Monday.

A number of other equities research analysts have also commented on PONY. CLSA assumed coverage on shares of Pony AI in a report on Friday, January 2nd. They issued an “outperform” rating and a $22.00 price target on the stock. Barclays started coverage on shares of Pony AI in a research note on Tuesday, December 16th. They set an “equal weight” rating and a $15.00 price objective for the company. Citigroup reiterated a “buy” rating on shares of Pony AI in a research note on Thursday, January 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Pony AI in a report on Thursday, January 22nd. Finally, Macquarie Infrastructure assumed coverage on shares of Pony AI in a research report on Monday, December 15th. They set an “outperform” rating and a $29.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Pony AI presently has an average rating of “Moderate Buy” and an average price target of $19.23.

Pony AI Stock Performance

Shares of PONY stock opened at $9.44 on Monday. Pony AI has a fifty-two week low of $4.11 and a fifty-two 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 stock’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

Institutional investors and hedge funds have recently modified their holdings of the business. Banque Cantonale Vaudoise raised its holdings in shares of Pony AI by 71.2% during the third quarter. Banque Cantonale Vaudoise now owns 3,662 shares of the company’s stock valued at $82,000 after acquiring an additional 1,523 shares during the last quarter. Baader Bank Aktiengesellschaft boosted its stake in shares of Pony AI by 0.7% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 229,732 shares of the company’s stock worth $3,330,000 after acquiring an additional 1,539 shares during the last quarter. Money Concepts Capital Corp boosted its stake in shares of Pony AI by 2.1% in the fourth quarter. Money Concepts Capital Corp now owns 93,546 shares of the company’s stock worth $1,356,000 after acquiring an additional 1,881 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of Pony AI by 704.8% during the third quarter. Jones Financial Companies Lllp now owns 2,197 shares of the company’s stock worth $47,000 after purchasing an additional 1,924 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in Pony AI in the 3rd quarter valued at $50,000.

About Pony AI

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.