BTIG Research Drops Coverage on SunCar Technology Group (NASDAQ:SDA)

BTIG Research dropped coverage on shares of SunCar Technology Group (NASDAQ:SDA) in a research report sent to investors on Friday,Benzinga reports. The brokerage had previously set a “buy” rating on the stock.

A number of other research firms have also recently weighed in on SDA. Weiss Ratings upgraded shares of SunCar Technology Group from a “sell (d-)” rating to a “sell (d)” rating in a research note on Thursday, October 15th. Zacks Research upgraded SunCar Technology Group to a “hold” rating in a research note on Monday, October 5th. Finally, Wall Street Zen cut SunCar Technology Group from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, SunCar Technology Group has a consensus rating of “Reduce”.

SunCar Technology Group Price Performance

Shares of NASDAQ:SDA opened at $0.21 on Friday. The company has a market capitalization of $22.12 million, a P/E ratio of 7.39 and a beta of -0.10. SunCar Technology Group has a 1-year low of $0.19 and a 1-year high of $2.45. The firm’s 50 day simple moving average is $0.47 and its two-hundred day simple moving average is $1.14. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.28 and a quick ratio of 1.28.

SunCar Technology Group (NASDAQ:SDA) last announced its quarterly earnings data on Thursday, September 24th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). The firm had revenue of $145.34 million during the quarter, compared to analysts’ expectations of $141.66 million. SunCar Technology Group had a return on equity of 3.52% and a net margin of 0.60%. Research analysts expect that SunCar Technology Group will post 0.05 EPS for the current fiscal year.

Institutional Investors Weigh In On SunCar Technology Group

An institutional investor recently raised its stake in SunCar Technology Group stock. Citadel Advisors LLC lifted its stake in SunCar Technology Group Inc. (NASDAQ:SDA) by 341.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 81,468 shares of the company’s stock after buying an additional 63,010 shares during the quarter. Citadel Advisors LLC owned approximately 0.08% of SunCar Technology Group worth $66,000 at the end of the most recent reporting period. 0.26% of the stock is owned by institutional investors and hedge funds.

About SunCar Technology Group

SunCar Technology Group Inc (NASDAQ:SDA) operates a digital platform for automotive after-sales services and automobile insurance brokerage in China. The company connects vehicle owners and corporate customers with a network of service providers through online and mobile technology.

Its automotive services business includes vehicle maintenance and repair, car washing and detailing, roadside assistance, and other vehicle-related services. SunCar also provides insurance brokerage and related services, helping customers access automobile insurance products through its platform.