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

SunCar Technology Group Inc. (NASDAQ:SDA) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totaling 324,221 shares, a decrease of 32.9% from the March 15th total of 483,092 shares. Based on an average daily volume of 127,832 shares, the short-interest ratio is presently 2.5 days. Approximately 0.4% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Several research firms have commented on SDA. Wall Street Zen raised shares of SunCar Technology Group to a “hold” rating in a research report on Saturday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SunCar Technology Group in a report on Thursday, January 22nd. Zacks Research raised SunCar Technology Group to a “hold” rating in a research report on Wednesday, March 18th. Finally, BTIG Research reiterated a “buy” rating and set a $6.00 price target on shares of SunCar Technology Group in a report on Monday, December 22nd. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $4.75.

SunCar Technology Group Stock Performance

SDA stock traded down $0.04 during mid-day trading on Wednesday, hitting $1.67. The company had a trading volume of 497,355 shares, compared to its average volume of 256,937. The firm has a market cap of $172.56 million, a PE ratio of -23.79 and a beta of 0.23. SunCar Technology Group has a 12 month low of $1.54 and a 12 month high of $3.65. The stock’s fifty day moving average price is $1.91 and its two-hundred day moving average price is $1.99.

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.