SunCar Technology Group Inc. (NASDAQ:SDA) Short Interest Down 39.1% in December

SunCar Technology Group Inc. (NASDAQ:SDA) saw a large drop in short interest in the month of December. As of December 15th, there was short interest totaling 105,364 shares, a drop of 39.1% from the November 30th total of 173,010 shares. Based on an average trading volume of 86,405 shares, the short-interest ratio is currently 1.2 days. Approximately 0.1% of the shares of the stock are sold short. Approximately 0.1% of the shares of the stock are sold short. Based on an average trading volume of 86,405 shares, the short-interest ratio is currently 1.2 days.

Wall Street Analyst Weigh In

Several analysts have weighed in on SDA shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SunCar Technology Group in a report on Wednesday, October 8th. BTIG Research reaffirmed a “buy” rating and issued a $6.00 target price on shares of SunCar Technology Group in a research note on Monday, December 22nd. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, SunCar Technology Group presently has a consensus rating of “Hold” and an average price target of $4.75.

SunCar Technology Group Trading Down 1.0%

SDA traded down $0.02 during midday trading on Tuesday, hitting $2.02. The company’s stock had a trading volume of 28,820 shares, compared to its average volume of 240,273. SunCar Technology Group has a 52-week low of $1.54 and a 52-week high of $10.61. The firm has a 50-day moving average price of $1.96 and a two-hundred day moving average price of $2.27. The firm has a market cap of $209.35 million, a P/E ratio of -28.86 and a beta of 0.09.

SunCar Technology Group (NASDAQ:SDA) last released its earnings results on Thursday, December 18th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.02). The company had revenue of $115.80 million for the quarter, compared to analyst estimates of $119.44 million. On average, equities analysts expect that SunCar Technology Group will post 0.11 EPS for the current year.

Institutional Trading of SunCar Technology Group

An institutional investor recently raised its position in SunCar Technology Group stock. Invesco Ltd. raised its holdings in SunCar Technology Group Inc. (NASDAQ:SDA) by 11.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,008 shares of the company’s stock after purchasing an additional 5,157 shares during the period. Invesco Ltd.’s holdings in SunCar Technology Group were worth $202,000 as of its most recent SEC filing. 0.26% of the stock is owned by hedge funds and other institutional investors.

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.