SunCar Technology Group (NASDAQ:SDA) Shares Up 1.2% – Should You Buy?

SunCar Technology Group Inc. (NASDAQ:SDA)’s share price rose 1.2% during mid-day trading on Wednesday . The stock traded as high as $0.82 and last traded at $0.7891. Approximately 60,088 shares were traded during trading, a decline of 68% from the average session volume of 185,263 shares. The stock had previously closed at $0.78.

Analysts Set New Price Targets

Several equities research analysts recently commented on SDA shares. Weiss Ratings reissued a “sell (e+)” rating on shares of SunCar Technology Group in a research note on Friday, July 17th. BTIG Research reduced their target price on shares of SunCar Technology Group from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Finally, Wall Street Zen raised shares of SunCar Technology Group from a “hold” rating to a “buy” rating in a research report on Sunday, June 14th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $5.00.

SunCar Technology Group Stock Performance

The company has a fifty day simple moving average of $0.84 and a two-hundred day simple moving average of $1.47. 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 (NASDAQ:SDA) last released its quarterly earnings results on Thursday, May 28th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. The company had revenue of $131.17 million during the quarter, compared to the consensus estimate of $132.49 million. SunCar Technology Group had a return on equity of 0.21% and a net margin of 0.04%.

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.