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

SunCar Technology Group Inc. (NASDAQ:SDA) was the target of a significant drop in short interest in the month of July. As of July 15th, there was short interest totaling 324,862 shares, a drop of 33.0% from the June 30th total of 484,990 shares. Based on an average trading volume of 204,018 shares, the days-to-cover ratio is currently 1.6 days. Approximately 0.4% of the shares of the stock are short sold.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of SunCar Technology Group in a research report on Friday, July 17th. Wall Street Zen raised SunCar Technology Group from a “hold” rating to a “buy” rating in a research note on Sunday, June 14th. Finally, BTIG Research reiterated a “buy” rating on shares of SunCar Technology Group in a research report on Wednesday. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, SunCar Technology Group presently has a consensus rating of “Hold” and an average price target of $5.00.

SunCar Technology Group Price Performance

Shares of NASDAQ SDA opened at $0.76 on Friday. SunCar Technology Group has a twelve month low of $0.47 and a twelve month high of $2.93. 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 firm has a 50-day moving average of $0.85 and a two-hundred day moving average of $1.42.

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

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.