SunCar Technology Group’s (SDA) “Buy” Rating Reiterated at BTIG Research

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

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of SunCar Technology Group in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $4.75.

SunCar Technology Group Stock Performance

SunCar Technology Group stock opened at $2.09 on Monday. The stock has a 50-day simple moving average of $1.96 and a 200 day simple moving average of $2.29. The stock has a market capitalization of $216.60 million, a P/E ratio of -29.86 and a beta of 0.09. SunCar Technology Group has a 52 week low of $1.54 and a 52 week high of $10.61.

SunCar Technology Group (NASDAQ:SDA) last released its quarterly earnings data 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. Research analysts forecast that SunCar Technology Group will post 0.11 earnings per share for the current year.

Hedge Funds Weigh In On SunCar Technology Group

An institutional investor recently bought a new position in SunCar Technology Group stock. Alpine Global Management LLC purchased a new stake in SunCar Technology Group Inc. (NASDAQ:SDA) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 97,608 shares of the company’s stock, valued at approximately $402,000. Alpine Global Management LLC owned 0.09% of SunCar Technology Group at the end of the most recent reporting period. 0.26% of the stock is currently owned by 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.