Short Interest in SunCar Technology Group Inc. (NASDAQ:SDA) Decreases By 39.1%

SunCar Technology Group Inc. (NASDAQ:SDA) was the target of a significant decline in short interest in December. As of December 15th, there was short interest totaling 105,364 shares, a decline of 39.1% from the November 30th total of 173,010 shares. Based on an average trading volume of 86,405 shares, the short-interest ratio is currently 1.2 days. Approximately 0.1% of the company’s stock are short sold. Approximately 0.1% of the company’s stock are short sold. Based on an average trading volume of 86,405 shares, the short-interest ratio is currently 1.2 days.

Institutional Investors Weigh In On SunCar Technology Group

An institutional investor recently raised its stake in SunCar Technology Group stock. Invesco Ltd. grew its position in shares of SunCar Technology Group Inc. (NASDAQ:SDA) by 11.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,008 shares of the company’s stock after buying an additional 5,157 shares during the quarter. Invesco Ltd.’s holdings in SunCar Technology Group were worth $202,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 0.26% of the stock is owned by hedge funds and other institutional investors.

SunCar Technology Group Stock Performance

NASDAQ SDA opened at $2.06 on Friday. SunCar Technology Group has a one year low of $1.54 and a one year high of $10.61. The stock has a 50-day moving average of $1.96 and a 200 day moving average of $2.28. The company has a market capitalization of $213.49 million, a price-to-earnings ratio of -29.43 and a beta of 0.09.

SunCar Technology Group (NASDAQ:SDA) last announced its quarterly earnings results 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 firm had revenue of $115.80 million for the quarter, compared to analysts’ expectations of $119.44 million. On average, equities analysts predict that SunCar Technology Group will post 0.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SDA has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SunCar Technology Group in a research note on Wednesday, October 8th. BTIG Research restated a “buy” rating and issued a $6.00 price target on shares of SunCar Technology Group in a research note on Monday, December 22nd. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $4.75.

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.