SunCar Technology Group Inc. (NASDAQ:SDA) Sees Significant Increase in Short Interest

SunCar Technology Group Inc. (NASDAQ:SDA) was the recipient of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 483,092 shares, a growth of 388.6% from the February 26th total of 98,866 shares. Currently, 0.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 694,086 shares, the short-interest ratio is presently 0.7 days. Based on an average daily trading volume, of 694,086 shares, the short-interest ratio is presently 0.7 days. Currently, 0.6% of the shares of the stock are short sold.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SunCar Technology Group in a report on Thursday, January 22nd. Zacks Research upgraded SunCar Technology Group to a “hold” rating in a research report on Wednesday, March 18th. Finally, BTIG Research reaffirmed a “buy” rating and set a $6.00 price target on shares of SunCar Technology Group in a research note on Monday, December 22nd. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $4.75.

SunCar Technology Group Stock Performance

NASDAQ SDA remained flat at $1.82 on Tuesday. 35,866 shares of the company’s stock were exchanged, compared to its average volume of 257,108. The firm has a market cap of $188.62 million, a PE ratio of -26.00 and a beta of 0.08. SunCar Technology Group has a twelve month low of $1.54 and a twelve month high of $4.77. The stock has a 50 day moving average price of $2.01 and a 200-day moving average price of $2.09.

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.