SunCar Technology Group Inc. (NASDAQ:SDA) Sees Large Decrease in Short Interest

Key Points

• Short interest fell 25.1% in April to 242,759 shares (about 0.3% of the stock), leaving a short-interest ratio of just 0.7 days based on average daily volume.
• Shares traded around $1.21 midday (1‑year range $1.15–$3.65) with a market cap of $123.4M and a negative P/E of -17.29; the company reported $0.03 EPS and $151.21M in quarterly revenue, while analysts forecast -$0.02 EPS for the fiscal year.
• Analyst sentiment is mixed—two Buy, one Hold and one Sell—with an average rating of "Hold" and an average price target of $4.75.

SunCar Technology Group Inc. (NASDAQ:SDA - Get Free Report) saw a large decline in short interest during the month of April. As of April 15th, there was short interest totaling 242,759 shares, a decline of 25.1% from the March 31st total of 324,221 shares. Approximately 0.3% of the company's stock are short sold. Based on an average daily volume of 346,502 shares, the short-interest ratio is currently 0.7 days.

SunCar Technology Group Stock Performance

Shares of NASDAQ SDA traded down $0.21 during midday trading on Wednesday, hitting $1.21. The company's stock had a trading volume of 413,058 shares, compared to its average volume of 248,243. SunCar Technology Group has a 1-year low of $1.15 and a 1-year high of $3.65. The firm's fifty day moving average price is $1.83 and its 200-day moving average price is $1.94. The firm has a market cap of $123.43 million, a P/E ratio of -17.29 and a beta of 0.23.

SunCar Technology Group (NASDAQ:SDA - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.03 EPS for the quarter. The business had revenue of $151.21 million during the quarter. As a group, research analysts predict that SunCar Technology Group will post -0.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SDA shares. Zacks Research raised shares of SunCar Technology Group to a "hold" rating in a research report on Wednesday, March 18th. Wall Street Zen raised shares of SunCar Technology Group to a "hold" rating in a report on Saturday, April 11th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of SunCar Technology Group in a report on Tuesday, April 21st. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, SunCar Technology Group currently has an average rating of "Hold" and an average target price 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.

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