SunCar Technology Group Inc. (NASDAQ:SDA) Short Interest Update

SunCar Technology Group Inc. (NASDAQ:SDA) was the recipient of a large growth in short interest in March. As of March 13th, there was short interest totaling 483,092 shares, a growth of 388.6% from the February 26th total of 98,866 shares. Based on an average daily volume of 694,086 shares, the short-interest ratio is currently 0.7 days. Approximately 0.6% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SDA. Weiss Ratings reiterated a “sell (e+)” rating on shares of SunCar Technology Group in a research report on Thursday, January 22nd. Zacks Research raised SunCar Technology Group to a “hold” rating in a research note on Wednesday, March 18th. Finally, BTIG Research reissued a “buy” rating and issued a $6.00 price objective on shares of SunCar Technology Group in a research note on Monday, December 22nd. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, SunCar Technology Group presently has a consensus rating of “Hold” and an average target price of $4.75.

SunCar Technology Group Trading Up 2.9%

Shares of NASDAQ SDA traded up $0.05 during trading on Thursday, reaching $1.83. The company had a trading volume of 4,068 shares, compared to its average volume of 248,664. SunCar Technology Group has a twelve month low of $1.54 and a twelve month high of $4.55. The stock has a 50-day moving average price of $2.00 and a two-hundred day moving average price of $2.09. The stock has a market capitalization of $189.76 million, a PE ratio of -26.01 and a beta of 0.08.

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.