SunCar Technology Group (NASDAQ:SDA) Announces Quarterly Earnings Results

SunCar Technology Group (NASDAQ:SDA) posted its quarterly earnings data on Wednesday. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01, FiscalAI reports. The company had revenue of $131.17 million during the quarter, compared to analysts’ expectations of $132.49 million. SunCar Technology Group had a negative net margin of 0.81% and a negative return on equity of 4.44%.

SunCar Technology Group Price Performance

Shares of SDA traded up $0.03 during mid-day trading on Wednesday, reaching $0.71. 2,277,498 shares of the stock traded hands, compared to its average volume of 532,059. The company has a market cap of $74.80 million, a price-to-earnings ratio of -17.75 and a beta of -0.03. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.01. The firm has a fifty day moving average price of $1.38 and a 200 day moving average price of $1.79. SunCar Technology Group has a 1 year low of $0.47 and a 1 year high of $3.08.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SDA shares. Wall Street Zen upgraded SunCar Technology Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. BTIG Research cut their price objective on shares of SunCar Technology Group from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Weiss Ratings reiterated a “sell (e+)” rating on shares of SunCar Technology Group in a research note on Tuesday, April 21st. Finally, Zacks Research upgraded shares of SunCar Technology Group to a “hold” rating in a report on Wednesday, March 18th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, SunCar Technology Group currently has a consensus rating of “Hold” and a consensus price target of $4.25.

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.