SunCar Technology Group Inc. (NASDAQ:SDA) Short Interest Down 33.0% in July

SunCar Technology Group Inc. (NASDAQ:SDA) saw a significant decrease in short interest during the month of July. As of July 15th, there was short interest totaling 324,862 shares, a decrease of 33.0% from the June 30th total of 484,990 shares. Approximately 0.4% of the shares of the stock are short sold. Based on an average daily volume of 204,018 shares, the short-interest ratio is presently 1.6 days.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of SunCar Technology Group from a “hold” rating to a “buy” rating in a research report on Sunday, June 14th. BTIG Research reissued a “buy” rating on shares of SunCar Technology Group in a report on Wednesday. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of SunCar Technology Group in a report on Friday, July 17th. 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. Based on data from MarketBeat.com, SunCar Technology Group has a consensus rating of “Hold” and a consensus target price of $5.00.

SunCar Technology Group Stock Performance

Shares of SDA stock opened at $0.78 on Friday. The business has a 50-day moving average price of $0.85 and a two-hundred day moving average price of $1.42. SunCar Technology Group has a 12-month low of $0.47 and a 12-month high of $2.93. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.01.

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

SunCar Technology Group Company Profile

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.