SunCar Technology Group Inc. (NASDAQ:SDA) Sees Large Decline in Short Interest

SunCar Technology Group Inc. (NASDAQ:SDA) was the recipient of a large decrease in short interest in the month of June. As of June 15th, there was short interest totaling 579,522 shares, a decrease of 43.5% from the May 31st total of 1,025,446 shares. Based on an average daily volume of 1,305,662 shares, the short-interest ratio is currently 0.4 days. Approximately 0.7% of the shares of the company are sold short.

Analyst Ratings Changes

Several analysts recently issued reports on SDA shares. Weiss Ratings restated a “sell (e+)” rating on shares of SunCar Technology Group in a research report on Tuesday, April 21st. Zacks Research upgraded shares of SunCar Technology Group to a “hold” rating in a research report on Wednesday, March 18th. BTIG Research dropped their price target on shares of SunCar Technology Group from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Finally, Wall Street Zen upgraded shares of SunCar Technology Group from a “hold” rating to a “buy” rating in a research note on Sunday, June 14th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $5.00.

SunCar Technology Group Trading Down 2.1%

Shares of SDA opened at $0.81 on Friday. The business has a 50-day simple moving average of $0.94 and a two-hundred day simple moving average of $1.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.28 and a current ratio of 1.28. SunCar Technology Group has a 52 week low of $0.47 and a 52 week high of $2.93.

SunCar Technology Group (NASDAQ:SDA) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. The firm had revenue of $131.17 million for the quarter, compared to analysts’ expectations of $132.49 million. SunCar Technology Group had a return on equity of 0.21% and a net margin of 0.04%.

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.