Short Interest in SunCar Technology Group Inc. (NASDAQ:SDA) Decreases By 32.9%

Key Points

• Short interest in SunCar fell by 32.9% to 324,221 shares as of March 31 (down from 483,092 on March 15), representing about 0.4% of shares and a days-to-cover ratio of 2.5.
• Analysts are mixed—two Buys, one Hold and one Sell—with a consensus rating of Hold and a consensus price target of $4.75.
• The stock traded at $1.69 on Tuesday, has a market cap of about $174.7M, a one-year range of $1.54–$3.65, and 50-/200-day moving averages near $1.92 and $2.00, respectively.

SunCar Technology Group Inc. (NASDAQ:SDA - Get Free Report) was the recipient of a large decrease in short interest in March. As of March 31st, there was short interest totaling 324,221 shares, a decrease of 32.9% from the March 15th total of 483,092 shares. Based on an average daily trading volume, of 127,832 shares, the days-to-cover ratio is currently 2.5 days. Currently, 0.4% of the shares of the stock are short sold.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. BTIG Research restated a "buy" rating and issued a $6.00 price objective on shares of SunCar Technology Group in a research report on Monday, December 22nd. Weiss Ratings restated a "sell (e+)" rating on shares of SunCar Technology Group in a report on Thursday, January 22nd. Wall Street Zen upgraded shares of SunCar Technology Group to a "hold" rating in a report on Saturday. Finally, Zacks Research raised shares of SunCar Technology Group to a "hold" rating in a research report on Wednesday, March 18th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, SunCar Technology Group currently has a consensus rating of "Hold" and a consensus price target of $4.75.

SunCar Technology Group Stock Performance

Shares of NASDAQ SDA traded up $0.02 during trading on Tuesday, reaching $1.69. The stock had a trading volume of 89,158 shares, compared to its average volume of 256,301. The stock has a market cap of $174.73 million, a PE ratio of -24.16 and a beta of 0.23. SunCar Technology Group has a one year low of $1.54 and a one year high of $3.65. The firm's 50 day moving average price is $1.92 and its two-hundred day moving average price is $2.00.

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.

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