SunCar Technology Group (NASDAQ:SDA) Shares Down 4% – Here’s Why

SunCar Technology Group Inc. (NASDAQ:SDA)’s stock price was down 4% on Tuesday . The stock traded as low as $1.91 and last traded at $1.93. Approximately 270,699 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 552,382 shares. The stock had previously closed at $2.01.

Wall Street Analyst Weigh In

SDA has been the subject of several recent analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of SunCar Technology Group in a report on Thursday, January 22nd. BTIG Research reaffirmed a “buy” rating and issued a $6.00 target price on shares of SunCar Technology Group in a research note on Monday, December 22nd. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $4.75.

SunCar Technology Group Price Performance

The stock has a 50 day moving average of $2.06 and a 200 day moving average of $2.14. The firm has a market cap of $200.03 million, a P/E ratio of -27.57 and a beta of 0.08.

SunCar Technology Group (NASDAQ:SDA) last issued its quarterly earnings results on Thursday, December 18th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.02). The business had revenue of $115.80 million during the quarter, compared to analysts’ expectations of $119.44 million. On average, research analysts predict that SunCar Technology Group Inc. 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.