SunCar Technology Group (NASDAQ:SDA) Posts Quarterly Earnings Results, Meets Estimates

SunCar Technology Group (NASDAQ:SDA) issued its earnings results on Wednesday. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01, FiscalAI reports. SunCar Technology Group had a negative return on equity of 4.44% and a negative net margin of 0.81%.The company had revenue of $131.17 million for the quarter, compared to the consensus estimate of $132.49 million.

SunCar Technology Group Trading Up 5.0%

SunCar Technology Group stock traded up $0.03 during midday trading on Wednesday, reaching $0.71. The stock had a trading volume of 2,156,115 shares, compared to its average volume of 529,620. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.01. The firm has a market cap of $75.01 million, a price-to-earnings ratio of -17.83 and a beta of -0.03. SunCar Technology Group has a 52-week low of $0.47 and a 52-week high of $3.08. The company has a fifty day moving average of $1.38 and a 200 day moving average of $1.79.

Wall Street Analyst Weigh In

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

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.