SunCar Technology Group (NASDAQ:SDA) Upgraded to “Buy” at Wall Street Zen

SunCar Technology Group (NASDAQ:SDA) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Sunday.

A number of other brokerages also recently weighed in on SDA. BTIG Research decreased their price objective on shares of 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. Weiss Ratings reissued a “sell (e+)” rating on shares of SunCar Technology Group in a research note 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. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $5.00.

SunCar Technology Group Stock Down 7.7%

Shares of SDA opened at $0.72 on Friday. The company’s fifty day moving average price is $1.19 and its 200-day moving average price is $1.72. SunCar Technology Group has a 1-year low of $0.47 and a 1-year high of $3.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.28 and a quick ratio of 1.28.

SunCar Technology Group (NASDAQ:SDA) last posted its earnings results on Thursday, May 28th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. The company had revenue of $131.17 million during the quarter, compared to the consensus estimate 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.