SunCar Technology Group (NASDAQ:SDA) Stock Moved Up to Hold by Zacks Research

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

SDA has been the topic of several other reports. Weiss Ratings raised SunCar Technology Group from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 24th. Wall Street Zen cut SunCar Technology Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, BTIG Research restated a “buy” rating on shares of SunCar Technology Group in a report on Wednesday, July 29th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $5.00.

SunCar Technology Group Stock Down 0.4%

Shares of SunCar Technology Group stock opened at $0.41 on Monday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.01. SunCar Technology Group has a 12-month low of $0.39 and a 12-month high of $2.70. The firm has a market capitalization of $42.93 million, a PE ratio of 13.55 and a beta of -0.10. The stock’s fifty day moving average is $0.63 and its 200-day moving average is $0.95.

SunCar Technology Group (NASDAQ:SDA) last announced its 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 firm had revenue of $145.34 million for the quarter, compared to analyst estimates of $141.66 million. SunCar Technology Group had a net margin of 0.60% and a return on equity of 3.52%. Equities analysts anticipate that SunCar Technology Group will post 0.05 earnings per share for the current year.

Institutional Investors Weigh In On SunCar Technology Group

A hedge fund recently raised its stake in SunCar Technology Group stock. Citadel Advisors LLC lifted its position in SunCar Technology Group Inc. (NASDAQ:SDA) by 341.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 81,468 shares of the company’s stock after buying an additional 63,010 shares during the quarter. Citadel Advisors LLC owned about 0.08% of SunCar Technology Group worth $66,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 0.26% of the company’s stock.

About SunCar Technology Group

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.