Short Interest in SunCar Technology Group Inc. (NASDAQ:SDA) Decreases By 13.5%

SunCar Technology Group Inc. (NASDAQ:SDA) was the target of a large decline in short interest in the month of February. As of February 27th, there was short interest totaling 98,866 shares, a decline of 13.5% from the February 12th total of 114,335 shares. Based on an average trading volume of 413,988 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the shares of the company are sold short. Currently, 0.1% of the shares of the company are sold short. Based on an average trading volume of 413,988 shares, the days-to-cover ratio is presently 0.2 days.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SDA shares. BTIG Research reiterated a “buy” rating and issued a $6.00 price target on shares of SunCar Technology Group in a research report on Monday, December 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of SunCar Technology Group in a research note on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.75.

SunCar Technology Group Stock Up 0.6%

Shares of NASDAQ SDA opened at $1.82 on Wednesday. The firm has a market capitalization of $188.62 million, a P/E ratio of -26.00 and a beta of 0.08. The stock’s 50-day simple moving average is $2.04 and its two-hundred day simple moving average is $2.12. SunCar Technology Group has a twelve month low of $1.54 and a twelve month high of $4.97.

SunCar Technology Group (NASDAQ:SDA) last issued its quarterly earnings results on Thursday, December 18th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The firm had revenue of $115.80 million during the quarter, compared to analysts’ expectations of $119.44 million. As a group, research analysts anticipate that SunCar Technology Group will post 0.11 EPS for the current fiscal year.

SunCar Technology Group Company Profile

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.