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

SunCar Technology Group (NASDAQ:SDA) released its quarterly earnings results on Wednesday. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01, FiscalAI reports. The business had revenue of $131.17 million during the quarter, compared to analysts’ expectations 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 Stock Performance

Shares of SDA traded up $0.03 during mid-day trading on Wednesday, hitting $0.71. 2,156,115 shares of the company traded hands, compared to its average volume of 529,620. The stock has a market cap of $75.01 million, a price-to-earnings ratio of -17.83 and a beta of -0.03. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a 50-day moving average price of $1.38 and a two-hundred day moving average price of $1.79. SunCar Technology Group has a 1 year low of $0.47 and a 1 year high of $3.08.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SDA. Weiss Ratings reissued a “sell (e+)” rating on shares of SunCar Technology Group in a research note on Tuesday, April 21st. Wall Street Zen upgraded shares of SunCar Technology Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Zacks Research upgraded SunCar Technology Group to a “hold” rating in a report on Wednesday, March 18th. Finally, BTIG Research reduced their target price on 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. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.