Amova Asset Management Americas Inc. Cuts Stake in Pony AI Inc. – Sponsored ADR $PONY

Amova Asset Management Americas Inc. lessened its holdings in shares of Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) by 7.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,821,735 shares of the company’s stock after selling 152,764 shares during the quarter. Amova Asset Management Americas Inc.’s holdings in Pony AI were worth $17,179,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of PONY. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Pony AI in the 3rd quarter worth approximately $89,174,000. Tiger Global Management LLC lifted its holdings in shares of Pony AI by 683.8% in the 4th quarter. Tiger Global Management LLC now owns 2,900,000 shares of the company’s stock valued at $42,050,000 after acquiring an additional 2,530,000 shares during the last quarter. FIL Ltd lifted its holdings in shares of Pony AI by 466.9% in the 4th quarter. FIL Ltd now owns 2,284,012 shares of the company’s stock valued at $33,118,000 after acquiring an additional 1,881,128 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of Pony AI by 239.6% during the 4th quarter. Marshall Wace LLP now owns 2,502,711 shares of the company’s stock worth $36,289,000 after purchasing an additional 1,765,718 shares during the period. Finally, Lingotto Investment Management LLP lifted its stake in shares of Pony AI by 72.6% during the 4th quarter. Lingotto Investment Management LLP now owns 4,107,512 shares of the company’s stock worth $59,559,000 after acquiring an additional 1,727,620 shares during the last quarter.

Insider Activity

In related news, CFO Haojun Wang sold 13,751 shares of the firm’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $6.86, for a total transaction of $94,331.86. Following the sale, the chief financial officer owned 1,442,504 shares in the company, valued at approximately $9,895,577.44. This trade represents a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Luyi Mo sold 14,460 shares of the firm’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $6.86, for a total transaction of $99,195.60. Following the sale, the vice president owned 350,156 shares in the company, valued at approximately $2,402,070.16. This represents a 3.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 45,558 shares of company stock valued at $312,528 in the last three months.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. HSBC assumed coverage on shares of Pony AI in a report on Tuesday, March 31st. They set a “buy” rating and a $16.60 price objective for the company. Macquarie Infrastructure reiterated an “outperform” rating and issued a $24.00 price target on shares of Pony AI in a report on Tuesday, May 26th. Wall Street Zen downgraded Pony AI from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. The Goldman Sachs Group set a $30.00 price target on shares of Pony AI in a research report on Thursday, April 16th. Finally, Weiss Ratings downgraded shares of Pony AI from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.95.

Pony AI Stock Performance

Shares of PONY opened at $6.71 on Tuesday. The business’s 50-day moving average is $8.10 and its two-hundred day moving average is $11.10. The company has a market capitalization of $2.59 billion, a P/E ratio of -18.64 and a beta of 4.04. Pony AI Inc. – Sponsored ADR has a fifty-two week low of $6.36 and a fifty-two week high of $24.92.

Pony AI (NASDAQ:PONY) last announced its quarterly earnings results on Tuesday, May 26th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.03. Pony AI had a negative return on equity of 17.13% and a negative net margin of 128.22%.The company had revenue of $34.25 million during the quarter, compared to the consensus estimate of $22.30 million. Analysts forecast that Pony AI Inc. – Sponsored ADR will post -0.67 EPS for the current year.

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.