SunCar Technology Group (NASDAQ:SDA) Announces Quarterly Earnings Results

SunCar Technology Group (NASDAQ:SDA) announced its earnings results on Wednesday. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01, FiscalAI reports. The firm had revenue of $131.17 million for the quarter, compared to the consensus estimate of $132.49 million. SunCar Technology Group had a negative net margin of 0.81% and a negative return on equity of 4.44%.

SunCar Technology Group Price Performance

Shares of SDA opened at $0.77 on Thursday. The stock has a market capitalization of $81.35 million, a P/E ratio of -19.25 and a beta of -0.03. SunCar Technology Group has a twelve month low of $0.47 and a twelve month high of $3.08. The company has a 50 day moving average of $1.36 and a 200-day moving average of $1.79. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.01.

Wall Street Analyst Weigh In

Several brokerages have commented on SDA. BTIG Research dropped their target price on shares of SunCar Technology Group from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Zacks Research upgraded shares of SunCar Technology Group to a “hold” rating in a report on Wednesday, March 18th. Wall Street Zen upgraded shares of SunCar Technology Group from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of SunCar Technology Group in a report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, SunCar Technology Group currently has an average rating of “Hold” and an average target price of $4.25.

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.