SunCar Technology Group (NASDAQ:SDA) Coverage Initiated at Oppenheimer

Research analysts at Oppenheimer assumed coverage on shares of SunCar Technology Group (NASDAQ:SDAGet Free Report) in a note issued to investors on Tuesday, Marketbeat.com reports. The firm set an “outperform” rating and a $3.50 price target on the stock. Oppenheimer’s price target indicates a potential upside of 19.45% from the stock’s previous close.

SunCar Technology Group Trading Up 2.4%

Shares of SDA opened at $2.93 on Tuesday. The stock has a fifty day moving average of $2.83 and a two-hundred day moving average of $5.79. SunCar Technology Group has a fifty-two week low of $2.41 and a fifty-two week high of $11.74.

SunCar Technology Group (NASDAQ:SDAGet Free Report) last released its quarterly earnings data on Wednesday, May 21st. The company reported ($0.03) EPS for the quarter. The firm had revenue of $102.60 million during the quarter. As a group, equities research analysts anticipate that SunCar Technology Group will post 0.11 earnings per share for the current year.

Hedge Funds Weigh In On SunCar Technology Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd boosted its position in SunCar Technology Group by 17.2% in the 1st quarter. XTX Topco Ltd now owns 31,389 shares of the company’s stock valued at $129,000 after buying an additional 4,616 shares during the last quarter. Invesco Ltd. boosted its position in SunCar Technology Group by 11.8% in the 1st quarter. Invesco Ltd. now owns 49,008 shares of the company’s stock valued at $202,000 after buying an additional 5,157 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of SunCar Technology Group during the fourth quarter worth about $69,000. Marshall Wace LLP bought a new position in shares of SunCar Technology Group during the fourth quarter worth about $100,000. Finally, Geode Capital Management LLC lifted its position in shares of SunCar Technology Group by 42.7% during the fourth quarter. Geode Capital Management LLC now owns 34,865 shares of the company’s stock worth $336,000 after purchasing an additional 10,431 shares during the last quarter. 0.26% of the stock is owned by hedge funds and other institutional investors.

SunCar Technology Group Company Profile

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SunCar Technology Group Inc, through its subsidiaries, provides digitalized automotive after-sales service and online insurance intermediation services in the People's Republic of China. It operates through three segments: Insurance Intermediation Business; Automotive After-Sales Business; and Technology Business.

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