SunCar Technology Group (NASDAQ:SDA) Receives Buy Rating from BTIG Research

BTIG Research reissued their buy rating on shares of SunCar Technology Group (NASDAQ:SDA) in a research report released on Monday morning,Benzinga reports. The brokerage currently has a $6.00 price target on the stock.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of SunCar Technology Group in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, SunCar Technology Group presently has a consensus rating of “Hold” and an average target price of $4.75.

SunCar Technology Group Trading Up 1.0%

SunCar Technology Group stock opened at $2.07 on Monday. The company has a fifty day simple moving average of $1.96 and a 200-day simple moving average of $2.29. The stock has a market cap of $214.53 million, a P/E ratio of -29.57 and a beta of 0.09. SunCar Technology Group has a 12-month low of $1.54 and a 12-month high of $10.61.

SunCar Technology Group (NASDAQ:SDA) last posted its earnings results on Thursday, December 18th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). The company had revenue of $115.80 million during the quarter, compared to analysts’ expectations of $119.44 million. As a group, sell-side analysts forecast that SunCar Technology Group will post 0.11 earnings per share for the current fiscal year.

Institutional Trading of SunCar Technology Group

A hedge fund recently raised its stake in SunCar Technology Group stock. Invesco Ltd. increased its position in SunCar Technology Group Inc. (NASDAQ:SDA) by 11.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 49,008 shares of the company’s stock after purchasing an additional 5,157 shares during the period. Invesco Ltd.’s holdings in SunCar Technology Group were worth $202,000 at the end of the most recent quarter. 0.26% of the stock is currently owned by hedge funds and other institutional investors.

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.