Pony AI (NASDAQ:PONY) Shares Down 9.5% Following Analyst Downgrade

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) fell 9.5% on Monday after Barclays lowered their price target on the stock from $15.00 to $10.00. Barclays currently has an equal weight rating on the stock. Pony AI traded as low as $8.25 and last traded at $8.2760. 5,369,992 shares changed hands during mid-day trading, an increase of 21% from the average session volume of 4,454,788 shares. The stock had previously closed at $9.14.

Other research analysts have also issued research reports about the stock. Wall Street Zen lowered shares of Pony AI from a “hold” rating to a “sell” rating in a report on Monday. Zacks Research downgraded shares of Pony AI from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 26th. Citigroup reissued a “buy” rating on shares of Pony AI in a research note on Thursday, January 15th. BNP Paribas Exane initiated coverage on shares of Pony AI in a report on Thursday, March 26th. They set a “neutral” rating and a $12.50 target price on the stock. Finally, CLSA started coverage on shares of Pony AI in a research report on Friday, January 2nd. They set an “outperform” rating and a $22.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.23.

Hedge Funds Weigh In On Pony AI

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its stake in shares of Pony AI by 103.5% during the third quarter. JPMorgan Chase & Co. now owns 2,110 shares of the company’s stock valued at $47,000 after purchasing an additional 62,748 shares during the period. Jones Financial Companies Lllp grew its stake in Pony AI by 704.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,197 shares of the company’s stock valued at $47,000 after purchasing an additional 1,924 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in Pony AI during the 3rd quarter worth approximately $50,000. Leonteq Securities AG purchased a new stake in Pony AI during the 4th quarter worth approximately $38,000. Finally, Banque Cantonale Vaudoise raised its position in shares of Pony AI by 71.2% in the 3rd quarter. Banque Cantonale Vaudoise now owns 3,662 shares of the company’s stock valued at $82,000 after purchasing an additional 1,523 shares in the last quarter.

Pony AI Trading Up 10.5%

The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of -26.22 and a beta of 6.26. The stock has a 50-day simple moving average of $13.13 and a 200-day simple moving average of $15.63.

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.