SunCar Technology Group (NASDAQ:SDA) Upgraded at Zacks Research

Zacks Research upgraded shares of SunCar Technology Group (NASDAQ:SDA) to a hold rating in a research note released on Wednesday morning,Zacks.com reports.

A number of other research firms have also recently commented on SDA. BTIG Research reaffirmed a “buy” rating and issued a $6.00 target price on shares of SunCar Technology Group in a research report on Monday, December 22nd. Weiss Ratings reissued a “sell (e+)” rating on shares of SunCar Technology Group in a research note on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, SunCar Technology Group currently has a consensus rating of “Hold” and a consensus target price of $4.75.

SunCar Technology Group Stock Performance

Shares of SunCar Technology Group stock opened at $1.75 on Wednesday. The stock has a 50 day moving average of $2.02 and a 200 day moving average of $2.11. The firm has a market capitalization of $181.37 million, a price-to-earnings ratio of -25.00 and a beta of 0.08. SunCar Technology Group has a fifty-two week low of $1.54 and a fifty-two week high of $4.83.

SunCar Technology Group (NASDAQ:SDA) last announced its quarterly 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 firm had revenue of $115.80 million during the quarter, compared to analyst estimates of $119.44 million. Analysts forecast that SunCar Technology Group will post 0.11 EPS for the current 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.