BTIG Research Drops Coverage on SunCar Technology Group (NASDAQ:SDA)

Research analysts at BTIG Research dropped coverage on shares of SunCar Technology Group (NASDAQ:SDA) in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage had previously set a “buy” rating on the stock.

A number of other analysts have also recently commented on SDA. Weiss Ratings raised shares of SunCar Technology Group from a “sell (d-)” rating to a “sell (d)” rating in a research report on Thursday, October 15th. Wall Street Zen lowered SunCar Technology Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Zacks Research raised SunCar Technology Group to a “hold” rating in a research report on Monday, October 5th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

SunCar Technology Group Trading Down 5.5%

SDA stock traded down $0.01 during trading on Friday, hitting $0.21. The company had a trading volume of 112,895 shares, compared to its average volume of 568,475. The stock has a market cap of $22.12 million, a PE ratio of 6.98 and a beta of -0.10. The business has a 50-day moving average of $0.48 and a 200-day moving average of $1.15. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.01. SunCar Technology Group has a one year low of $0.19 and a one year high of $2.45.

SunCar Technology Group (NASDAQ:SDA) last released its quarterly earnings results on Thursday, September 24th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.04). SunCar Technology Group had a return on equity of 3.52% and a net margin of 0.60%. The firm had revenue of $145.34 million for the quarter, compared to the consensus estimate of $141.66 million. Research analysts predict that SunCar Technology Group will post 0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SunCar Technology Group

A hedge fund recently raised its stake in SunCar Technology Group stock. Citadel Advisors LLC lifted its stake in shares of SunCar Technology Group Inc. (NASDAQ:SDA) by 341.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,468 shares of the company’s stock after purchasing an additional 63,010 shares during the quarter. Citadel Advisors LLC owned about 0.08% of SunCar Technology Group worth $66,000 at the end of the most recent reporting period. Institutional investors own 0.26% of the company’s stock.

About SunCar Technology Group

SunCar Technology Group Inc (NASDAQ:SDA) operates a digital platform for automotive after-sales services and automobile insurance brokerage in China. The company connects vehicle owners and corporate customers with a network of service providers through online and mobile technology.

Its automotive services business includes vehicle maintenance and repair, car washing and detailing, roadside assistance, and other vehicle-related services. SunCar also provides insurance brokerage and related services, helping customers access automobile insurance products through its platform.