SunCar Technology Group Inc. (NASDAQ:SDA) Short Interest Down 17.5% in January

SunCar Technology Group Inc. (NASDAQ:SDA) was the target of a significant 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. Approximately 0.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 31,932 shares, the days-to-cover ratio is currently 2.7 days. Based on an average daily trading volume, of 31,932 shares, the days-to-cover ratio is currently 2.7 days. Approximately 0.1% of the shares of the stock are short sold.

SunCar Technology Group Stock Down 4.1%

SDA traded down $0.08 during trading on Wednesday, hitting $1.87. The company’s stock had a trading volume of 10,951 shares, compared to its average volume of 30,902. The firm’s 50 day moving average price is $2.04 and its two-hundred day moving average price is $2.18. The stock has a market capitalization of $193.81 million, a price-to-earnings ratio of -26.71 and a beta of 0.10. SunCar Technology Group has a 12 month low of $1.54 and a 12 month high of $9.02.

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

Analysts Set New Price Targets

SDA has been the subject of a number of research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SunCar Technology Group in a research report on Thursday, January 22nd. BTIG Research reissued a “buy” rating and issued a $6.00 price objective on shares of SunCar Technology Group in a research note on Monday, December 22nd. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, SunCar Technology Group currently has a consensus rating of “Hold” and an average 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.