SunCar Technology Group (NASDAQ:SDA) Rating Lowered to “Hold” at Wall Street Zen

SunCar Technology Group (NASDAQ:SDA) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

SDA has been the subject of a number of other reports. Zacks Research upgraded SunCar Technology Group to a “hold” rating in a research report on Wednesday, March 18th. Weiss Ratings restated a “sell (e+)” rating on shares of SunCar Technology Group in a research report on Tuesday, April 21st. Finally, BTIG Research cut their target price on SunCar Technology Group from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $4.25.

SunCar Technology Group Stock Down 14.2%

SDA opened at $1.15 on Friday. 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 1-year low of $0.47 and a 1-year high of $3.08. The business has a 50 day moving average price of $1.27 and a two-hundred day moving average price of $1.75.

SunCar Technology Group (NASDAQ:SDA) last released its earnings results on Wednesday, May 27th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. The firm had revenue of $131.17 million during the quarter, compared to the consensus estimate of $132.49 million. SunCar Technology Group had a return on equity of 0.21% and a net margin of 0.04%.

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.