Short Interest in SunCar Technology Group Inc. (NASDAQ:SDA) Expands By 22.2%

SunCar Technology Group Inc. (NASDAQ:SDA) saw a significant growth in short interest during the month of January. As of January 30th, there was short interest totaling 107,227 shares, a growth of 22.2% from the January 15th total of 87,762 shares. Based on an average daily volume of 32,530 shares, the days-to-cover ratio is currently 3.3 days. Currently, 0.1% of the shares of the company are short sold. Currently, 0.1% of the shares of the company are short sold. Based on an average daily volume of 32,530 shares, the days-to-cover ratio is currently 3.3 days.

Wall Street Analyst Weigh In

Several brokerages recently commented on SDA. BTIG Research reaffirmed a “buy” rating and issued a $6.00 price objective on shares of SunCar Technology Group in a report on Monday, December 22nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SunCar Technology Group in a research report on Thursday, January 22nd. Two equities 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, the stock has an average rating of “Hold” and a consensus target price of $4.75.

SunCar Technology Group Stock Up 1.5%

NASDAQ SDA opened at $2.03 on Tuesday. SunCar Technology Group has a 52 week low of $1.54 and a 52 week high of $5.35. The company has a market capitalization of $210.39 million, a P/E ratio of -29.00 and a beta of 0.10. The stock’s 50-day moving average price is $2.02 and its 200-day moving average price is $2.16.

SunCar Technology Group (NASDAQ:SDA) last announced its quarterly earnings data on Thursday, December 18th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The company had revenue of $115.80 million during the quarter, compared to the consensus estimate of $119.44 million. Research analysts anticipate that SunCar Technology Group will post 0.11 EPS for the current year.

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.