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

SunCar Technology Group (NASDAQ:SDA) was upgraded by stock analysts at Zacks Research to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

Other analysts have also recently issued reports about the stock. BTIG Research restated a “buy” rating and set a $6.00 price target on shares of SunCar Technology Group in a research note on Monday, December 22nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SunCar Technology Group in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $4.75.

SunCar Technology Group Trading Up 0.6%

NASDAQ:SDA opened at $1.79 on Wednesday. The firm’s 50 day moving average is $2.03 and its 200 day moving average is $2.12. SunCar Technology Group has a 12 month low of $1.54 and a 12 month high of $4.83. The stock has a market capitalization of $185.52 million, a PE ratio of -25.57 and a beta of 0.08.

SunCar Technology Group (NASDAQ:SDA) last posted its quarterly earnings results on Thursday, December 18th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02). The firm had revenue of $115.80 million during the quarter, compared to the consensus estimate of $119.44 million. Research analysts predict that SunCar Technology Group will post 0.11 earnings per share for the current year.

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.