BTIG Research Cuts SunCar Technology Group (NASDAQ:SDA) Price Target to $5.00

SunCar Technology Group (NASDAQ:SDA) had its price target decreased by equities research analysts at BTIG Research from $6.00 to $5.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price target points to a potential upside of 306.50% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the stock. Wall Street Zen raised shares of SunCar Technology Group to a “hold” rating in a research report on Saturday, April 11th. Weiss Ratings reissued a “sell (e+)” rating on shares of SunCar Technology Group in a research report on Tuesday, April 21st. Finally, Zacks Research raised shares of SunCar Technology Group to a “hold” rating in a research report on Wednesday, March 18th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $4.25.

SunCar Technology Group Stock Up 1.7%

Shares of SDA opened at $1.23 on Friday. The stock has a market capitalization of $125.47 million, a P/E ratio of -30.75 and a beta of 0.23. The firm has a fifty day simple moving average of $1.80 and a two-hundred day simple moving average of $1.93. SunCar Technology Group has a twelve month low of $1.15 and a twelve month high of $3.65.

SunCar Technology Group (NASDAQ:SDA) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $0.03 earnings per share for the quarter. The firm had revenue of $151.21 million for the quarter. Sell-side analysts expect that SunCar Technology Group will post 0.14 EPS for the current fiscal year.

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.