SunCar Technology Group (NASDAQ:SDA) Posts Quarterly Earnings Results, Misses Estimates By $0.02 EPS

SunCar Technology Group (NASDAQ:SDA) released its quarterly earnings data on Thursday. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02), reports. The business had revenue of $115.80 million for the quarter, compared to the consensus estimate of $119.44 million.

SunCar Technology Group Trading Up 3.5%

SunCar Technology Group stock opened at $2.08 on Friday. The stock’s fifty day simple moving average is $1.96 and its 200-day simple moving average is $2.31. SunCar Technology Group has a twelve month low of $1.54 and a twelve month high of $10.61. The firm has a market capitalization of $215.57 million, a P/E ratio of -29.71 and a beta of 0.09.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SDA shares. BTIG Research lowered their price target on SunCar Technology Group from $12.00 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SunCar Technology Group in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $4.75.

SunCar Technology Group Company Profile

SunCar Technology Group Inc, through its subsidiaries, provides digitalized automotive after-sales service and online insurance intermediation services in the People's Republic of China. It operates through three segments: Insurance Intermediation Business; Automotive After-Sales Business; and Technology Business.