SunCar Technology Group Inc. (NASDAQ:SDA) Short Interest Update

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

SunCar Technology Group Trading Down 3.2%

Shares of NASDAQ:SDA opened at $0.76 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a 50 day moving average price of $0.85 and a 200-day moving average price of $1.42. SunCar Technology Group has a 52-week low of $0.47 and a 52-week high of $2.93.

SunCar Technology Group (NASDAQ:SDA) last released its quarterly earnings results on Thursday, May 28th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. The company 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%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. BTIG Research reissued a “buy” rating on shares of SunCar Technology Group in a research report on Wednesday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SunCar Technology Group in a research report on Friday, July 17th. Finally, Wall Street Zen raised shares of SunCar Technology Group from a “hold” rating to a “buy” rating in a research note on Sunday, June 14th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $5.00.

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.