SunCar Technology Group (NASDAQ:SDA) Releases Earnings Results, Meets Expectations

SunCar Technology Group (NASDAQ:SDA) posted its earnings results on Wednesday. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01, FiscalAI reports. The firm had revenue of $131.17 million for the quarter, compared to the consensus estimate of $132.49 million. SunCar Technology Group had a return on equity of 0.21% and a net margin of 0.04%.

SunCar Technology Group Stock Performance

Shares of SunCar Technology Group stock opened at $0.79 on Friday. SunCar Technology Group has a 12 month low of $0.47 and a 12 month high of $3.08. The firm has a market capitalization of $83.46 million, a P/E ratio of -19.75 and a beta of -0.03. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $1.34 and a two-hundred day simple moving average of $1.78.

Analysts Set New Price Targets

A number of research analysts have recently commented on SDA shares. Weiss Ratings restated a “sell (e+)” rating on shares of SunCar Technology Group in a research report on Tuesday, April 21st. Zacks Research raised shares of SunCar Technology Group to a “hold” rating in a research note on Wednesday, March 18th. Wall Street Zen upgraded SunCar Technology Group from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, BTIG Research lowered their price target on shares of SunCar Technology Group from $6.00 to $5.00 and set a “buy” rating for the company in a report on Friday, May 1st. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $4.25.

About SunCar Technology Group

SunCar Technology Group (NASDAQ: SDA) is a technology-driven developer of range-extending systems for electric vehicles. The company’s flagship offering, SunDrive, integrates a compact internal combustion generator, advanced battery management, thermal management, and proprietary power electronics under unified control software. By combining these elements into a modular platform, SunCar addresses range anxiety and total cost of ownership concerns for light- and medium-duty EV fleets.

Founded in 2016 and headquartered in Shenzhen, China, SunCar serves global customers across ride-hailing, delivery logistics and commercial fleet segments.