SunCar Technology Group Inc. (NASDAQ:SDA) Short Interest Down 43.5% in June

SunCar Technology Group Inc. (NASDAQ:SDA) saw a significant decline in short interest during the month of June. As of June 15th, there was short interest totaling 579,522 shares, a decline of 43.5% from the May 31st total of 1,025,446 shares. Currently, 0.7% of the company’s stock are sold short. Based on an average daily trading volume, of 1,305,662 shares, the short-interest ratio is currently 0.4 days.

Analyst Ratings Changes

SDA has been the subject of a number of analyst reports. Zacks Research upgraded shares of SunCar Technology Group to a “hold” rating in a research report on Wednesday, March 18th. Wall Street Zen upgraded shares of SunCar Technology Group from a “hold” rating to a “buy” rating in a research note on Sunday, June 14th. BTIG Research reduced their price target on shares of SunCar Technology Group from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SunCar Technology Group in a report on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $5.00.

SunCar Technology Group Stock Performance

Shares of NASDAQ:SDA traded down $0.02 on Thursday, reaching $0.81. The company’s stock had a trading volume of 227,266 shares, compared to its average volume of 607,968. The company has a 50-day simple moving average of $0.95 and a 200 day simple moving average of $1.60. SunCar Technology Group has a 52-week low of $0.47 and a 52-week high of $2.93. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.28 and a current ratio of 1.28.

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

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.