Pony AI (NASDAQ:PONY) Shares Gap Up – Here’s Why

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) shares gapped up prior to trading on Monday. The stock had previously closed at $6.89, but opened at $7.12. Pony AI shares last traded at $7.2210, with a volume of 771,876 shares.

Wall Street Analyst Weigh In

A number of analysts recently commented on PONY shares. BNP Paribas Exane upgraded Pony AI from a “neutral” rating to an “outperform” rating in a research report on Thursday, August 20th. Weiss Ratings restated a “sell (e+)” rating on shares of Pony AI in a research note on Tuesday, September 8th. Bank of America reduced their price target on shares of 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 reiterated a “buy” rating on shares of Pony AI in a research note on Tuesday, August 18th. Seven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Pony AI currently has an average rating of “Moderate Buy” and a consensus target price of $19.57.

Pony AI Trading Up 3.8%

The company’s 50 day moving average price is $7.42 and its two-hundred day moving average price is $8.57. The firm has a market cap of $3.11 billion, a PE ratio of -19.93 and a beta of 3.87.

Hedge Funds Weigh In On Pony AI

A number of hedge funds have recently made changes to their positions in PONY. TMT General Partner Ltd raised its stake 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 valued at $65,534,000 after purchasing an additional 5,024,721 shares during the period. Lingotto Investment Management LLP boosted its stake in Pony AI by 72.6% in the 4th quarter. Lingotto Investment Management LLP now owns 4,107,512 shares of the company’s stock worth $59,559,000 after purchasing an additional 1,727,620 shares during the period. Amova Asset Management Americas Inc. boosted its stake in Pony AI by 266.2% in the 4th quarter. Amova Asset Management Americas Inc. now owns 1,974,499 shares of the company’s stock worth $28,630,000 after purchasing an additional 1,435,358 shares during the period. Hel Ved Capital Management Ltd grew its holdings in Pony AI by 47.5% during the 4th quarter. Hel Ved Capital Management Ltd now owns 778,879 shares of the company’s stock valued at $11,294,000 after buying an additional 250,900 shares in the last quarter. Finally, Keystone Investors PTE Ltd. grew its holdings in Pony AI by 202.0% during the 4th quarter. Keystone Investors PTE Ltd. now owns 668,658 shares of the company’s stock valued at $9,696,000 after buying an additional 447,250 shares in the last quarter.

Pony AI Company Profile

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.