Short Interest in SunCar Technology Group Inc. (NASDAQ:SDA) Declines By 17.5%

SunCar Technology Group Inc. (NASDAQ:SDA) was the recipient of a large decrease in short interest in the month of January. As of January 15th, there was short interest totaling 87,762 shares, a decrease of 17.5% from the December 31st total of 106,345 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 31,932 shares, the days-to-cover ratio is presently 2.7 days. Based on an average daily trading volume, of 31,932 shares, the days-to-cover ratio is presently 2.7 days. Currently, 0.1% of the shares of the company are short sold.

SunCar Technology Group Trading Up 0.8%

NASDAQ SDA traded up $0.02 on Monday, hitting $2.00. 4,513 shares of the company traded hands, compared to its average volume of 31,036. The business’s 50 day moving average price is $2.04 and its 200-day moving average price is $2.18. SunCar Technology Group has a 52-week low of $1.54 and a 52-week high of $10.61. The company has a market capitalization of $206.86 million, a price-to-earnings ratio of -28.51 and a beta of 0.10.

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. BTIG Research reiterated a “buy” rating and set a $6.00 price objective on shares of SunCar Technology Group in a research report on Monday, December 22nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SunCar Technology Group in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $4.75.

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.