Oppenheimer initiated coverage on shares of SunCar Technology Group (NASDAQ:SDA - Free Report) in a research note published on Tuesday, MarketBeat.com reports. The brokerage issued an outperform rating and a $3.50 price objective on the stock.
SunCar Technology Group Price Performance
Shares of SDA stock traded down $0.07 on Tuesday, reaching $2.80. 25,537 shares of the company's stock were exchanged, compared to its average volume of 321,896. The company's fifty day simple moving average is $2.82 and its 200 day simple moving average is $5.69. SunCar Technology Group has a 52 week low of $2.41 and a 52 week high of $11.74.
SunCar Technology Group (NASDAQ:SDA - Get Free Report) last issued its earnings results on Wednesday, May 21st. The company reported ($0.03) earnings per share (EPS) for the quarter. The firm had revenue of $102.60 million for the quarter. As a group, sell-side analysts predict that SunCar Technology Group will post 0.11 earnings per share for the current year.
Hedge Funds Weigh In On SunCar Technology Group
A number of institutional investors have recently modified their holdings of the stock. Alpine Global Management LLC purchased a new stake in shares of SunCar Technology Group in the first quarter valued at approximately $402,000. Invesco Ltd. raised its position in SunCar Technology Group by 33.6% during the 4th quarter. Invesco Ltd. now owns 43,851 shares of the company's stock valued at $423,000 after purchasing an additional 11,033 shares in the last quarter. Geode Capital Management LLC raised its position in SunCar Technology Group by 42.7% during the 4th quarter. Geode Capital Management LLC now owns 34,865 shares of the company's stock valued at $336,000 after purchasing an additional 10,431 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of SunCar Technology Group in the 4th quarter worth $100,000. Finally, BNP Paribas Financial Markets bought a new position in shares of SunCar Technology Group during the 4th quarter worth $69,000. 0.26% of the stock is owned by hedge funds and other institutional investors.
SunCar Technology Group Company Profile
(
Get Free Report)
SunCar Technology Group Inc, through its subsidiaries, provides digitalized automotive after-sales service and online insurance intermediation services in the People's Republic of China. It operates through three segments: Insurance Intermediation Business; Automotive After-Sales Business; and Technology Business.
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