SunCar Technology Group Inc. (NASDAQ:SDA) Short Interest Update

SunCar Technology Group Inc. (NASDAQ:SDA) was the target of a large decrease in short interest in June. As of June 15th, there was short interest totaling 579,522 shares, a decrease of 43.5% from the May 31st total of 1,025,446 shares. Approximately 0.7% of the company’s shares are short sold. Based on an average trading volume of 1,305,662 shares, the short-interest ratio is presently 0.4 days.

Analyst Ratings Changes

SDA has been the subject of several research analyst reports. Wall Street Zen raised shares of SunCar Technology Group from a “hold” rating to a “buy” rating in a research note on Sunday, June 14th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SunCar Technology Group in a research report on Tuesday, April 21st. Zacks Research upgraded SunCar Technology Group to a “hold” rating in a report on Wednesday, March 18th. Finally, BTIG Research dropped their price target on SunCar Technology Group from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $5.00.

SunCar Technology Group Trading Up 3.1%

Shares of NASDAQ SDA traded up $0.03 during midday trading on Wednesday, reaching $0.83. 279,762 shares of the company’s stock traded hands, compared to its average volume of 611,038. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.28 and a quick ratio of 1.28. The stock’s 50 day simple moving average is $0.97 and its 200-day simple moving average is $1.61. SunCar Technology Group has a one year low of $0.47 and a one year high of $2.93.

SunCar Technology Group (NASDAQ:SDA) last issued its quarterly earnings data on Thursday, May 28th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. The company had revenue of $131.17 million during the quarter, compared to the consensus estimate of $132.49 million. SunCar Technology Group had a net margin of 0.04% and a return on equity of 0.21%.

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.