BTIG Research Reiterates “Buy” Rating for SunCar Technology Group (NASDAQ:SDA)

SunCar Technology Group (NASDAQ:SDA)‘s stock had its “buy” rating reissued by BTIG Research in a note issued to investors on Monday,Benzinga reports. They currently have a $6.00 price objective on the stock. BTIG Research’s price target would indicate a potential upside of 188.46% from the stock’s previous close.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SunCar Technology Group in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $4.75.

SunCar Technology Group Trading Up 0.5%

SDA opened at $2.08 on Monday. SunCar Technology Group has a 12 month low of $1.54 and a 12 month high of $10.61. The business’s 50-day moving average price is $1.96 and its 200-day moving average price is $2.29. The company has a market cap of $215.57 million, a P/E ratio of -29.71 and a beta of 0.09.

SunCar Technology Group (NASDAQ:SDA) last issued its earnings results on Thursday, December 18th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02). The company had revenue of $115.80 million during the quarter, compared to the consensus estimate of $119.44 million. Equities research analysts forecast that SunCar Technology Group will post 0.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SunCar Technology Group

A hedge fund recently bought a new stake in SunCar Technology Group stock. Alpine Global Management LLC purchased a new position in SunCar Technology Group Inc. (NASDAQ:SDA) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 97,608 shares of the company’s stock, valued at approximately $402,000. Alpine Global Management LLC owned 0.09% of SunCar Technology Group as of its most recent SEC filing. 0.26% of the stock is currently owned by institutional investors and hedge funds.

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.