SunCar Technology Group (NASDAQ:SDA) Releases Earnings Results, Misses Estimates By $0.04 EPS

SunCar Technology Group (NASDAQ:SDA) announced its quarterly earnings data on Tuesday. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.04), FiscalAI reports. SunCar Technology Group had a return on equity of 3.57% and a net margin of 0.60%.The company had revenue of $145.34 million for the quarter, compared to analysts’ expectations of $141.66 million.

SunCar Technology Group Price Performance

SDA opened at $0.45 on Thursday. 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 52-week low of $0.42 and a 52-week high of $2.70. The company has a 50 day moving average of $0.69 and a two-hundred day moving average of $1.04. The company has a market cap of $47.15 million, a P/E ratio of 14.88 and a beta of -0.14.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SDA. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SunCar Technology Group in a research report on Friday, July 17th. Wall Street Zen downgraded SunCar Technology Group from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, BTIG Research reaffirmed a “buy” rating on shares of SunCar Technology Group in a research report on Wednesday, July 29th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $5.00.

SunCar Technology Group Company Profile

SunCar Technology Group Inc (NASDAQ: SDA) operates a digital platform for automotive after-sales services in China. The company connects vehicle owners with insurance providers, automobile dealerships, service centers and other automotive service providers through technology-enabled marketplaces and service-management solutions.

Its offerings include automotive insurance brokerage and related insurance services, as well as a range of vehicle services such as maintenance, repair, roadside assistance, cleaning, detailing and other convenience services.