SunCar Technology Group Inc. (NASDAQ:SDA) Sees Significant Increase in Short Interest

SunCar Technology Group Inc. (NASDAQ:SDA) saw a large growth in short interest in March. As of March 13th, there was short interest totaling 483,092 shares, a growth of 388.6% from the February 26th total of 98,866 shares. Currently, 0.6% of the shares of the company are sold short. Based on an average daily trading volume, of 694,086 shares, the days-to-cover ratio is presently 0.7 days. Based on an average daily trading volume, of 694,086 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.6% of the shares of the company are sold short.

Analysts Set New Price Targets

SDA has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SunCar Technology Group in a report on Thursday, January 22nd. Zacks Research raised shares of SunCar Technology Group to a “hold” rating in a report on Wednesday, March 18th. Finally, BTIG Research restated a “buy” rating and issued a $6.00 price objective on shares of SunCar Technology Group in a research report on Monday, December 22nd. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, SunCar Technology Group currently has an average rating of “Hold” and a consensus price target of $4.75.

SunCar Technology Group Price Performance

NASDAQ SDA remained flat at $1.82 during trading on Tuesday. The company’s stock had a trading volume of 35,866 shares, compared to its average volume of 257,108. The company has a market capitalization of $188.62 million, a PE ratio of -26.00 and a beta of 0.08. The stock has a 50 day moving average of $2.01 and a two-hundred day moving average of $2.09. SunCar Technology Group has a fifty-two week low of $1.54 and a fifty-two week high of $4.77.

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.