HSBC Begins Coverage on Pony AI (NASDAQ:PONY)

Research analysts at HSBC assumed coverage on shares of Pony AI (NASDAQ:PONY) in a research note issued on Tuesday, Marketbeat reports. The firm set a “buy” rating and a $16.60 price target on the stock. HSBC’s target price indicates a potential upside of 80.24% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. CLSA initiated coverage on Pony AI in a research report on Friday, January 2nd. They set an “outperform” rating and a $22.00 target price on the stock. Zacks Research downgraded Pony AI from a “hold” rating to a “strong sell” rating in a report on Thursday, March 26th. Barclays dropped their price target on shares of Pony AI from $15.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Monday. Macquarie Infrastructure started coverage on shares of Pony AI in a report on Monday, December 15th. They set an “outperform” rating and a $29.00 price objective on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Pony AI in a report on Thursday, January 22nd. 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 stock. According to data from MarketBeat, Pony AI presently has a consensus rating of “Moderate Buy” and an average target price of $19.23.

Pony AI Price Performance

Pony AI stock opened at $9.21 on Tuesday. The stock has a market cap of $3.55 billion, a PE ratio of -25.58 and a beta of 6.32. The stock’s fifty day moving average is $13.00 and its two-hundred day moving average is $15.58. Pony AI has a 1-year low of $4.11 and a 1-year high of $24.92.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PONY. Banque Cantonale Vaudoise lifted its stake in Pony AI by 71.2% in the third quarter. Banque Cantonale Vaudoise now owns 3,662 shares of the company’s stock valued at $82,000 after buying an additional 1,523 shares during the last quarter. Baader Bank Aktiengesellschaft increased its holdings in shares of Pony AI by 0.7% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 229,732 shares of the company’s stock valued at $3,330,000 after acquiring an additional 1,539 shares during the period. Money Concepts Capital Corp increased its holdings in shares of Pony AI by 2.1% in the 4th quarter. Money Concepts Capital Corp now owns 93,546 shares of the company’s stock valued at $1,356,000 after acquiring an additional 1,881 shares during the period. Jones Financial Companies Lllp raised its position in Pony AI by 704.8% in 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 during the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in Pony AI during the 3rd quarter worth $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.