SunCar Technology Group (NASDAQ:SDA) Posts Quarterly Earnings Results, Misses Expectations By $0.04 EPS

SunCar Technology Group (NASDAQ:SDA) issued its earnings results on Tuesday. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.04), FiscalAI reports. SunCar Technology Group had a return on equity of 0.21% and a net margin of 0.04%.The company had revenue of $145.34 million during the quarter, compared to analysts’ expectations of $141.66 million.

SunCar Technology Group Stock Performance

Shares of NASDAQ SDA traded up $0.00 during midday trading on Tuesday, hitting $0.49. 279,612 shares of the company’s stock were exchanged, compared to its average volume of 545,187. The stock’s 50 day moving average price is $0.71 and its 200-day moving average price is $1.06. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.28 and a current ratio of 1.28. SunCar Technology Group has a twelve month low of $0.42 and a twelve month high of $2.70.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. BTIG Research restated a “buy” rating on shares of SunCar Technology Group in a report on Wednesday, July 29th. Weiss Ratings reissued a “sell (e+)” rating on shares of SunCar Technology Group in a report on Friday, July 17th. Finally, Wall Street Zen downgraded SunCar Technology Group from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $5.00.

SunCar Technology Group Company Profile

SunCar Technology Group Inc (NASDAQ: SDA) operates a digital platform for automotive after-sales services in China. The company connects vehicle owners with insurance providers, automobile dealerships, service centers and other automotive service providers through technology-enabled marketplaces and service-management solutions.

Its offerings include automotive insurance brokerage and related insurance services, as well as a range of vehicle services such as maintenance, repair, roadside assistance, cleaning, detailing and other convenience services.