Zacks Research Upgrades SunCar Technology Group (NASDAQ:SDA) to Hold

SunCar Technology Group (NASDAQ:SDA) was upgraded by equities researchers at Zacks Research to a “hold” rating in a research note issued to investors on Monday, Zacks reports.

Other research analysts have also recently issued reports about the company. Wall Street Zen cut SunCar Technology Group from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings upgraded SunCar Technology Group from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 24th. Finally, BTIG Research reiterated 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 assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, SunCar Technology Group presently has a consensus rating of “Hold” and an average price target of $5.00.

SunCar Technology Group Stock Down 0.4%

SDA opened at $0.41 on Monday. The firm has a market cap of $42.93 million, a price-to-earnings ratio of 13.55 and a beta of -0.10. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.28 and a current ratio of 1.28. The firm’s 50-day simple moving average is $0.63 and its 200-day simple moving average is $0.95. SunCar Technology Group has a twelve month low of $0.39 and a twelve month high of $2.70.

SunCar Technology Group (NASDAQ:SDA) last released its quarterly earnings results on Thursday, September 24th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). SunCar Technology Group had a net margin of 0.60% and a return on equity of 3.52%. The firm had revenue of $145.34 million during the quarter, compared to analyst estimates of $141.66 million. Equities research analysts anticipate that SunCar Technology Group will post 0.05 EPS for the current fiscal year.

Institutional Investors Weigh In On SunCar Technology Group

An institutional investor recently raised its stake in SunCar Technology Group stock. Citadel Advisors LLC grew its position in SunCar Technology Group Inc. (NASDAQ:SDA) by 341.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 81,468 shares of the company’s stock after buying an additional 63,010 shares during the period. Citadel Advisors LLC owned approximately 0.08% of SunCar Technology Group worth $66,000 at the end of the most recent quarter. Institutional investors own 0.26% of the company’s stock.

About SunCar Technology Group

SunCar Technology Group Inc is a technology-enabled provider of automotive after-sales services and online automobile insurance services. The company operates a digital platform that connects vehicle owners and corporate customers with automobile dealers, insurance providers and third-party automotive service providers.

Its automotive services include vehicle maintenance and repair, roadside assistance, car washing and detailing, tire services and other vehicle-related offerings. SunCar also provides insurance-related services through online distribution and agency channels, helping customers access automobile insurance products through its platform.

Founded in 2007, SunCar primarily serves customers and business partners in China.