SunCar Technology Group (NASDAQ:SDA) Posts Quarterly Earnings Results, Misses Estimates By $0.04 EPS

SunCar Technology Group (NASDAQ:SDA) released its earnings results on Tuesday. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.04), FiscalAI reports. SunCar Technology Group had a net margin of 0.04% and a return on equity of 0.21%. The business had revenue of $145.34 million for the quarter, compared to analysts’ expectations of $141.66 million.

SunCar Technology Group Trading Up 1.0%

SDA traded up $0.00 during trading on Tuesday, hitting $0.49. The company’s stock had a trading volume of 6,532,802 shares, compared to its average volume of 545,562. SunCar Technology Group has a twelve month low of $0.42 and a twelve month high of $2.70. The stock’s fifty day moving average price is $0.71 and its 200-day moving average price is $1.06. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.28 and a quick ratio of 1.28.

Wall Street Analyst Weigh In

SDA has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of SunCar Technology Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of SunCar Technology Group in a research report on Friday, July 17th. Finally, BTIG Research reaffirmed a “buy” rating on shares of SunCar Technology Group in a research report on Wednesday, July 29th. One research 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $5.00.

About SunCar Technology Group

SunCar Technology Group Inc (NASDAQ: SDA) operates a digital platform for automotive after-sales services in China. The company connects vehicle owners with insurance providers, automobile dealerships, service centers and other automotive service providers through technology-enabled marketplaces and service-management solutions.

Its offerings include automotive insurance brokerage and related insurance services, as well as a range of vehicle services such as maintenance, repair, roadside assistance, cleaning, detailing and other convenience services.