SunCar Technology Group's (SDA) Sell (E+) Rating Reiterated at Weiss Ratings

Key Points

• SunCar Technology Group (SDA) has had its "sell (e+)" rating reiterated by Weiss Ratings, indicating ongoing concerns about the company's stock performance.
• Oppenheimer has started coverage of SunCar Technology Group with an "outperform" rating and a target price of $3.50, contrasting with the current average rating of "Hold" and target price of $7.75.
• The company's stock is currently trading at $2.34, showing a decline of 0.8%, with a one-year low of $2.12 and a high of $11.28.

SunCar Technology Group (NASDAQ:SDA - Get Free Report)'s stock had its "sell (e+)" rating reiterated by equities researchers at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Separately, Oppenheimer started coverage on shares of SunCar Technology Group in a research note on Tuesday, June 10th. They issued an "outperform" rating and a $3.50 price target for the company. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, SunCar Technology Group currently has an average rating of "Hold" and a consensus target price of $7.75.

SunCar Technology Group Stock Down 0.8%

SDA opened at $2.34 on Wednesday. SunCar Technology Group has a 1-year low of $2.12 and a 1-year high of $11.28. The company has a fifty day moving average price of $2.45 and a two-hundred day moving average price of $2.71.

Institutional Investors Weigh In On SunCar Technology Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Alpine Global Management LLC bought a new stake in shares of SunCar Technology Group during the first quarter worth about $402,000. Invesco Ltd. increased its position in shares of SunCar Technology Group by 11.8% during the first quarter. Invesco Ltd. now owns 49,008 shares of the company's stock worth $202,000 after acquiring an additional 5,157 shares in the last quarter. Finally, XTX Topco Ltd boosted its holdings in SunCar Technology Group by 17.2% during the first quarter. XTX Topco Ltd now owns 31,389 shares of the company's stock worth $129,000 after purchasing an additional 4,616 shares during the last quarter. 0.26% of the stock is owned by institutional investors.

About SunCar Technology Group

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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