SunCar Technology Group (NASDAQ:SDA) Rating Increased to Hold at Zacks Research

SunCar Technology Group (NASDAQ:SDA) was upgraded by equities researchers at Zacks Research to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

Several other brokerages have also recently weighed in on SDA. BTIG Research reaffirmed a “buy” rating and issued a $6.00 price target on shares of SunCar Technology Group in a research report on Monday, December 22nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of SunCar Technology Group in a report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $4.75.

SunCar Technology Group Stock Performance

Shares of SDA opened at $1.79 on Wednesday. The firm has a market cap of $185.52 million, a PE ratio of -25.57 and a beta of 0.08. SunCar Technology Group has a 52-week low of $1.54 and a 52-week high of $4.83. The business’s 50 day moving average price is $2.03 and its two-hundred day moving average price is $2.12.

SunCar Technology Group (NASDAQ:SDA) last announced its quarterly earnings data 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 firm had revenue of $115.80 million for the quarter, compared to analysts’ expectations of $119.44 million. Research analysts predict that SunCar Technology Group will post 0.11 EPS for the current fiscal year.

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.