Short Interest in SunCar Technology Group Inc. (NASDAQ:SDA) Decreases By 32.9%

SunCar Technology Group Inc. (NASDAQ:SDA) was the recipient of a large drop in short interest in March. As of March 31st, there was short interest totaling 324,221 shares, a drop of 32.9% from the March 15th total of 483,092 shares. Approximately 0.4% of the shares of the stock are short sold. Based on an average daily volume of 127,832 shares, the days-to-cover ratio is currently 2.5 days.

Analyst Ratings Changes

A number of research firms have recently commented on SDA. Wall Street Zen raised SunCar Technology Group to a “hold” rating in a research note on Saturday. BTIG Research reaffirmed a “buy” rating and set a $6.00 target price on shares of SunCar Technology Group in a research note on Monday, December 22nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SunCar Technology Group in a report on Thursday, January 22nd. Finally, Zacks Research raised shares of SunCar Technology Group to a “hold” rating in a report on Wednesday, March 18th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $4.75.

SunCar Technology Group Stock Up 1.0%

Shares of NASDAQ:SDA traded up $0.02 during trading on Tuesday, reaching $1.69. 89,158 shares of the company traded hands, compared to its average volume of 256,301. The firm has a fifty day simple moving average of $1.92 and a 200 day simple moving average of $2.00. SunCar Technology Group has a 1-year low of $1.54 and a 1-year high of $3.65. The firm has a market cap of $174.73 million, a P/E ratio of -24.16 and a beta of 0.23.

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.