SunCar Technology Group (NASDAQ:SDA) Trading Up 1.2% – Still a Buy?

Shares of SunCar Technology Group Inc. (NASDAQ:SDA) rose 1.2% during mid-day trading on Wednesday . The company traded as high as $0.82 and last traded at $0.7891. 60,088 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 185,263 shares. The stock had previously closed at $0.78.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of SunCar Technology Group in a research note on Friday, July 17th. BTIG Research decreased their target price on SunCar Technology Group from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Finally, Wall Street Zen raised SunCar Technology Group from a “hold” rating to a “buy” rating in a report on Sunday, June 14th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $5.00.

SunCar Technology Group Price Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.28 and a current ratio of 1.28. The firm’s 50-day simple moving average is $0.84 and its 200-day simple moving average is $1.48.

SunCar Technology Group (NASDAQ:SDA) last issued its quarterly earnings results on Thursday, May 28th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. The firm had revenue of $131.17 million for the quarter, compared to analyst estimates of $132.49 million. SunCar Technology Group had a net margin of 0.04% and a return on equity of 0.21%.

About SunCar Technology Group

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.