SunCar Technology Group (NASDAQ:SDA) Upgraded at Zacks Research

Zacks Research upgraded shares of SunCar Technology Group (NASDAQ:SDA) to a hold rating in a report released on Monday morning,Zacks reports.

Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings raised shares of SunCar Technology Group from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, September 24th. Wall Street Zen cut SunCar Technology Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, BTIG Research reiterated a “buy” rating on shares of SunCar Technology Group in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $5.00.

SunCar Technology Group Price Performance

SDA opened at $0.41 on Monday. The company has a market capitalization of $43.45 million, a price-to-earnings ratio of 13.71 and a beta of -0.10. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average price of $0.62 and a 200-day moving average price of $0.94. SunCar Technology Group has a twelve month low of $0.39 and a twelve month high of $2.70.

SunCar Technology Group (NASDAQ:SDA) last posted its quarterly earnings results on Thursday, September 24th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.04). The business had revenue of $145.34 million during the quarter, compared to the consensus estimate of $141.66 million. SunCar Technology Group had a net margin of 0.60% and a return on equity of 3.52%. Equities analysts expect that SunCar Technology Group will post 0.05 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in SunCar Technology Group stock. Citadel Advisors LLC lifted its position in SunCar Technology Group Inc. (NASDAQ:SDA) by 341.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 81,468 shares of the company’s stock after purchasing an additional 63,010 shares during the quarter. Citadel Advisors LLC owned about 0.08% of SunCar Technology Group worth $66,000 at the end of the most recent quarter. Institutional investors and hedge funds own 0.26% of the company’s stock.

SunCar Technology Group Company Profile

SunCar Technology Group Inc is a technology-enabled provider of automotive after-sales services and online automobile insurance services. The company operates a digital platform that connects vehicle owners and corporate customers with automobile dealers, insurance providers and third-party automotive service providers.

Its automotive services include vehicle maintenance and repair, roadside assistance, car washing and detailing, tire services and other vehicle-related offerings. SunCar also provides insurance-related services through online distribution and agency channels, helping customers access automobile insurance products through its platform.

Founded in 2007, SunCar primarily serves customers and business partners in China.