Wall Street Zen Downgrades SunCar Technology Group (NASDAQ:SDA) to Hold

SunCar Technology Group (NASDAQ:SDA) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Other equities research analysts also recently issued research reports about the stock. BTIG Research reaffirmed a “buy” rating on shares of SunCar Technology Group in a report on Wednesday, July 29th. Weiss Ratings restated a “sell (e+)” rating on shares of SunCar Technology Group in a research report on Friday, July 17th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, SunCar Technology Group currently has a consensus rating of “Hold” and an average target price of $5.00.

SunCar Technology Group Stock Performance

Shares of SunCar Technology Group stock opened at $0.85 on Friday. The business’s fifty day moving average price is $0.86 and its two-hundred day moving average price is $1.37. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.01. SunCar Technology Group has a 1-year low of $0.47 and a 1-year high of $2.93.

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

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.