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

SunCar Technology Group Inc. (NASDAQ:SDA) saw a large decrease in short interest during the month of December. As of December 15th, there was short interest totaling 105,364 shares, a decrease of 39.1% from the November 30th total of 173,010 shares. Based on an average daily trading volume, of 86,405 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.1% of the company’s shares are sold short. Currently, 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 86,405 shares, the days-to-cover ratio is presently 1.2 days.

Hedge Funds Weigh In On SunCar Technology Group

A hedge fund recently bought a new stake in SunCar Technology Group stock. Alpine Global Management LLC bought a new stake in shares of SunCar Technology Group Inc. (NASDAQ:SDA) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 97,608 shares of the company’s stock, valued at approximately $402,000. Alpine Global Management LLC owned approximately 0.09% of SunCar Technology Group at the end of the most recent quarter. Hedge funds and other institutional investors own 0.26% of the company’s stock.

SunCar Technology Group Stock Performance

SunCar Technology Group stock opened at $2.06 on Friday. The stock’s 50 day simple moving average is $1.96 and its two-hundred day simple moving average is $2.28. The stock has a market cap of $213.49 million, a price-to-earnings ratio of -29.43 and a beta of 0.09. SunCar Technology Group has a fifty-two week low of $1.54 and a fifty-two week high of $10.61.

SunCar Technology Group (NASDAQ:SDA) last announced its earnings results on Thursday, December 18th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate 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. On average, analysts predict that SunCar Technology Group will post 0.11 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SDA shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SunCar Technology Group in a research note on Wednesday, October 8th. BTIG Research restated a “buy” rating and set a $6.00 price target on shares of SunCar Technology Group in a report on Monday, December 22nd. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, SunCar Technology Group presently has an average rating of “Hold” and a consensus target price of $4.75.

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.