Short Interest in SunCar Technology Group Inc. (NASDAQ:SDA) Declines By 33.0%

Key Points

• SunCar Technology Group’s short interest fell 33.0% to 324,862 shares as of July 15, down from 484,990 shares on June 30. Short interest now represents 0.4% of shares outstanding, with a 1.6-day days-to-cover ratio.
• The stock opened at $0.78, below its 50-day moving average of $0.85 and 200-day moving average of $1.42. Shares have traded between $0.47 and $2.93 over the past year.
• Analyst views are mixed: one analyst rates the stock Buy, one Hold and one Sell, producing a consensus Hold rating and a $5.00 price target. SunCar reported quarterly EPS of $0.01, matching estimates, while revenue of $131.17 million slightly missed forecasts.

SunCar Technology Group Inc. (NASDAQ:SDA - Get Free Report) saw a significant decline in short interest in July. As of July 15th, there was short interest totaling 324,862 shares, a decline of 33.0% from the June 30th total of 484,990 shares. Currently, 0.4% of the shares of the company are sold short. Based on an average daily volume of 204,018 shares, the days-to-cover ratio is presently 1.6 days.

SunCar Technology Group Price Performance

NASDAQ SDA opened at $0.78 on Friday. The company's 50 day simple moving average is $0.85 and its two-hundred day simple moving average is $1.42. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.01. SunCar Technology Group has a 1 year low of $0.47 and a 1 year high of $2.93.

SunCar Technology Group (NASDAQ:SDA - Get Free Report) last released its quarterly earnings results on Thursday, May 28th. The company reported $0.01 EPS for the quarter, meeting analysts' consensus estimates of $0.01. The firm had revenue of $131.17 million during the quarter, compared to analyst estimates of $132.49 million. SunCar Technology Group had a net margin of 0.04% and a return on equity of 0.21%.

Analysts Set New Price Targets

SDA has been the topic of a number of analyst reports. Weiss Ratings reiterated a "sell (e+)" rating on shares of SunCar Technology Group in a research note on Friday, July 17th. BTIG Research restated a "buy" rating on shares of SunCar Technology Group in a research note on Wednesday. Finally, Wall Street Zen raised SunCar Technology Group from a "hold" rating to a "buy" rating in a report on Sunday, June 14th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $5.00.

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.

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